Tax Credit Funds Affordable Hsouing for Moorpark
The AHA recently was awarded Tax credit fundinf for a 20-unit affordabel housing development in Moorpark.
T
he 20-unit development will offer two and three bedroom units for working families. Centrally located on Charles Street, residents will be able to live, work, and play in the quaint, pedestrian friendly downtown area with easy access to public transportation, parks, schools, library, shopping, dining, and arts center. Estimated rents for two-bedroom units will range from approximately $591 to $1,082 and from $682 to $1,182 for three-bedroom units.
The $8.9 million project is estimated to take approximately 18 months once construction begins in September or October 2010.
For the initial lease up, applicants living or working in Moorpark will receive a preference. However, if an insufficient number of qualified local households apply, then applications from surrounding areas will be considered. Applications and income limits will be available once the development is near completion. Interested households can sign up for e-mail announcements here.
The development will receive $778,332 in federal tax credit funding through Moorpark 20, Limited Partnership. The Area Housing Authority will serve as the non-profit general partner, developer, and managing agent.
The city of Moorpark provided $1.77 million in Redevelopment funds. Another $476,619 in HOME funds from the County of Ventura was secured as part of the financial portfolio. Funding sources restrict the income limits for this development to between 30% and 55% of the area median income. The property will maintain affordability restrictions for 55 years.
"What Units Are Available?"
This is a question that we are often asked. Since vacancies in properties owned or managed by the AHA are unpredictable, we include our available units in the Rental Listing. The Rental Listing is available on the left side of this page or in our lobby.
Currently, the Area Housing Authority anticipates or has vacancies at the following properties. Section 8 is accepted at all Area Housing Authority properties.
Glenn Oaks Senior Apartments in Thousand Oaks:
One-bedroom Units
Rent: $800
Income Limits: 80% of AMI (see Income Limits)
Contact: 494-3120 or arb@ahacv.org
Los Arboles Apartments in Thousand Oaks
Two and Three Bedroom Units
Rents from: $1,130 to $1,503
Income Limits: 80% of AMI (see Income Limits)
Contact: 492-8350 or arb@ahacv.org
Peppertree Apartments in Simi Valley
One, Two, and Three Bedroom Units
Rent: $950 to $1450
Income Limits: None
Contact: 805-480-9991 ext. 230 or lotech@ahacv.org
Mira Vista Senior Village in Camarillo
One and Two Bedroom Units
Rent: $704 to $1,031
Income Limits: 60% of AMI (see Income Limits)
Contact: 805-987- 6486 or cclark@lomco.com
Colina Vista Apartments in Piru
(Tax Credit Property)
Three and Four Bedroom Units
Rent: $545 to $824
Income Limits: 30% and 50% of AMI (see Income Limits)
Contact: 805-480-9991 ext. 230 or lotech@ahacv.org
Landlords may list their available units using the on-line form, by calling the AHA at 805-480-9991 or faxing the information to us at 805-480-1021, Attn: Rental Listing. More information for landlords is available on-line (click here).
2010 Area Housing Authority Receives Clean Financial Report
The Area Housing Authority’s financial numbers are accurate and meet generally accepted accounting standards, a new independent audit report shows.
The Area Housing Authority Board of Commissioners, at its Wednesday, March 10, 2010 meeting, accepted the Audited Financial Statements for Fiscal Year 2009 from Mayer Hoffman McCann P.C. Certified Public Accountants. The auditors released an unqualified report noting that the financial statements “present fairly, in all material respects, the respective financial position” of the AHA as of June 30, 2009.
The audit report is presented each year to show how the housing authority’s finances fared in the previous fiscal year. “The audit is performed for the purpose of forming an opinion on the financial statements that collectively comprise the agency’s basic financial statements,” stated Douglas Tapking, Executive Director for Area Housing Authority.
The Area Housing Authority’s commitment to meeting and surpassing all Department of Housing and Urban Development standards has resulted in the agency’s multi-year rating as a “High” performer.
“This audit report shows we have a strong financial foundation,” stated Tapking, “and use our resources wisely. I commend staff for their high standards and prudence in financial matters in this uncertain economy.”
Stimulus Package Brings Benefits to County’s Lowest Income Residents
The recently approved stimulus package is anticipated to provide over $600,000 in energy improvements which will benefit low rent public housing residents in Ojai, Camarillo, Moorpark, Thousand Oaks and unincorporated Ventura County, according to the American Recovery and Reinvestment Act of 2009. According to announcements early this week, the Area Housing Authority is awaiting final confirmation and distribution of the funds, which are restricted to improvements at 355 units of low rent public housing managed by the Authority.
“This is a one time opportunity,” stated Douglas Tapking, Executive Director, “and we are thrilled to get funds which will ultimately serve some of the County’s lowest income residents.” According to Tapking, the funds are restricted to capital improvements at low rent public housing sites. “These funds will be used for new energy efficient windows in all of the public housing units,” said Tapking. “For our public housing residents, this means lower energy bills and more money for high cost items like healthcare and prescription medicines.”
The stimulus package sets strict limits on how the funds must be spent along with additional requirements for financial reporting. According to the recent announcement regarding the Award of American Recovery and Reinvestment Act Capital Funds, public housing authorities must give priority to capital projects that can award contracts based on bids within 120 days from receipt of the grant. In addition, priority is to be given to projects that are already underway or included in the Authority’s 5-year Capital Fund Plan. All funds must be obligated within one year and spent within three years, and under no circumstances can the funds be used for operations or rental assistance. The Area Housing Authority will provide a physical needs assessment prior to receiving any funds.
The Public Housing Program has struggled in the past due to a lack of funds for capital improvements. The Area Housing Authority has reduced overhead costs and staff, and continually improves efficiency to ensure that all Department of Housing and Urban Development standards are met or surpassed resulting in the agency’s multi-year rating as a “High” performer. “Continuing to invest in these properties will lengthen their useful life, maintain their internal and external appeal, and reduce energy costs for the residents,” said Tapking. “Ultimately, the overall quality of life for these residents will be improved.”
AHA Receives "High Performer" Rating from HUD
The Area Housing Authority is again recognized as a “High Performer”
by the Department of Housing and Urban Development (HUD) in the
administration of the Section 8 Housing Choice Voucher Program.
"It means a great deal to receive this designation,” said Douglas
Tapking, Executive Director, “and staff is to be applauded for their
continued commitment to effectively managing such a massive and complex
program."
This is the 4th consecutive year that the Area Housing Authority has
earned this distinction.
To
earn the rank of “High Performer” from HUD, the Agency demonstrated
compliance with HUD regulations and proved efficient use of funding and
resources while serving the greatest possible number of needy
residents. All aspects of the Section 8 program administration were
subjected to HUD audits and inquiries to quantify the Agency’s
performance. A total score of 90% is required to be ranked as a high
performing agency.
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