Presentation to Arc of Illinois: June 6, 2012

Nonprofit financial and real estate resourcesWhere nonprofits come first

Presentation to Arc of Illinois: June 6, 2012

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Agenda

• Overview of IFF

• IFF’s Housing Experience

• Overview of Home First Illinois

• Next Steps

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Who We Are• Nonprofit lender and real estate consultant founded in 1988,

with over $235 million in assets

• CARSTM rated AAA+1, one of four in the country with the highest rating

• Assists nonprofits across sectors serving low-income or special-needs populations, including health care, education, child care, and housing• Operates in Illinois, Indiana, Iowa, Missouri, and Wisconsin with investment and support from banks, insurance companies, religious investors, foundations and government

• Provides significant experience with staff backgrounds in: commercial banking, community and economic development, nonprofit operations, real estate, planning, engineering, green design, and architecture

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What We Do

• Accessible capital for nonprofits• Tailored solutions for community

facilities• 5-year to 15-year loans • Financing from $10,000 to $1.5

million

• Affordable facilities planning and project management

• Effective community development

Real Estate Services

• Community investment analysis

• Nonprofit financial health studies

Research

Loan Program

“Well placed, well planned, well designed, well financed. It’s not an ideal. It’s what should be.”

- Trinita Logue, President, IFF

Our Housing Work

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• Our Lending Department has helped finance 2,291 housing units

• Our Real Estate Services Department has developed 71 housing units by assisting with project conception, site selection, finance packaging, oversight of design and construction, and other key services

• Neighborhood Stabilization Program – IFF was awarded $12.27 million in NSP funds from the State of Illinois and Cook County to develop supportive housing in 9 Illinois counties

• West Cook Housing Collaborative – IFF leads a consortium of 5 west suburban municipalities to increase affordable homeownership options near public transit, an effort backed by $7.3 million in federal funds

• Home First Illinois – launched in December 2011, Home First Illinois is a wholly-owned subsidiary of IFF that develops and owns integrated housing units for people with disabilities

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Housing Needs: Consent Decrees, MFP, and Closures

• Ligas v. Hamos State must assess approximately 9,000 people and assist those who desire services and housing in the community

• Williams v. Quinn State must assess approximately 5,000 people in IMDs and assist those who wish to transition to the community

• Colbert v. Quinn State must assess 14,000+ people in nursing facilities in Cook County and assist those who wish to transition

• Planned closures of Jacksonville, Tinley Park, Murray, and other Developmental Centers requires community placement of 600+ people

• Money Follows the Person State-selected transition coordinators moving 3,400 people with disabilities into the community

• Where will they live and how will they afford it?

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Home First Illinois

Home First Illinois’ advisory board consists of disability advocates and supportive housing developers and advocates, and is guided by the following:

Mission Statement:  Home First Illinois is a nonprofit housing development corporation that acquires, develops, owns, and operates integrated housing for very low-income persons with disabilities.

Vision Statement:  Home First Illinois will become a national model for developing and operating scattered-site, non-institutional housing for very low-income persons with disabilities. Home First Illinois believes that individuals with disabilities have a right to live in the most integrated setting.

Principles: Permanent housing with a standard lease Rent typically does not exceed 30% of household income Tenants have access to a flexible array of services Participation in services is not a condition of tenancy

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How Does Home First Illinois Work?

Partnerships!• Development – IFF Real Estate Services

• Financing – State, federal, foundations, banks, IFF Lending

• Property Management – contracting with professional management companies

• Services Coordination/Provision – working with transition coordinators and community-based services providers

• Informing Public Policy – keeping lines of communication open with allies, associations, funding agencies, and the Governor’s Office

What will Home First Illinois do?

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Project: Illinois Accessible Housing InitiativeUsing $15 million in State capital funds committed by Governor Quinn, HFI is

acquiring scattered-site condominiums in Chicago and Chicago metro, making them accessible for wheelchair users, and housing people leaving nursing homes.

Project: Keystone Lease-to-Purchase ProgramHFI and IFF will create 2-3 CILAs for each Keystone Alliance affiliate. IFF will

finance, find, acquire, and renovate the homes, and enter a lease-to-purchase contract with each Keystone affiliate that will operate the resulting CILAs.

Project: Community Living InitiativeHFI proposes to develop and permanently own CILAs for 4 people or less in areas

of geographic need, leasing them to CILA providers.

Project: Scattered-Site Housing for People with DisabilitiesHFI will seek grants, tax credits, and debt financing to develop new scattered-site

housing units on City- or bank-owned lots, for people with all types of disabilities.

IFF and HFI are interested in your project ideas!

Nonprofit financial and real estate resourcesWhere nonprofits come first

For additional information, contact:

Tara PeeleDirector of Home First [email protected] (312) 521-7383