Affordable Housing Management Inc

MANAGEMENT AND DEVELOPMENT OF AFFORDABLE RENTAL HOUSING FOR LOW TO MODERATE INCOME HOUSEHOLDS

THE ORGANIZATION PROVIDED TECHNICAL, MANAGERIAL, AND EDUCATIONAL ASSISTANCE TO LOW AND MODERATE INCOME HOUSING DEVELOPMENTS IN THE GREATER GREENSBORO, NORTH CAROLINA AREA.THE ORGANIZATION PROVIDED THESE SERVICES TO 523 HOUSING UNITS DURING THE YEAR ENDED JUNE 30, 2022, THROUGH PROPERTIES THAT WERE OWNED AND/OR MANAGED.THROUGH ITS RESIDENT EDUCATION AND ENRICHMENT FUND (REEF), TO DATE THE ORGANIZATION HAS PROVIDED 85 SCHOLARSHIPS TOTALING $43,910, OF WHICH 14 ARE MULTIPLE AWARDS TO THE SAME RESIDENTS, TO AHM RESIDENTS TO ASSIST THEM WITH FURTHERING THEIR EDUCATION AND CAREER ADVANCEMENT. THROUGH ITS YOUTH EDUCATION SUMMER SCHOLARSHIP PROGRAM 40 SCHOLARSHIPS TOTALING $10,867, TO DATE THE ORGANIZATION HAS PROVIDED 9,668 YOUTH EDUCATION SUMMER SCHOLARSHIPS TO CHILDREN LIVING AT AHM MANAGED APARTMENTS, TO ATTEND SUMMER CAMPS.THE ORGANIZATION RECEIVED A NORTH CAROLINA HOUSING FINANCE AGENCY 2013 HOUSING NORTH CAROLINA AWARD FOR EXCELLENCE IN AFFORDABLE HOUSING IN THE PERMANENT SUPPORTIVE HOUSING CATEGORY. THE AWARD ACKNOWLEDGED THE MAJOR REHABILITATION OF 20 UNITS KNOWN AS VILLAGE CROSSING. OF THOSE UNITS, 9 ARE RESERVED/TARGETED FOR FORMERLY HOMELESS AND/OR DISABLED HOUSEHOLDS.THE ORGANIZATION RECEIVED ANOTHER NORTH CAROLINA HOUSING FINANCE AGENCY 2017 HOUSING NORTH CAROLINA AWARD FOR EXCELLENCE IN AFFORDABLE HOUSING IN THE PERMANENT SUPPORTIVE HOUSING CATEGORY. THE AWARD ACKNOWLEDGED THE NEW CONSTRUCTION OF 16 UNITS KNOWN AS HOPE COURT. OF THOSE UNITS, 6 ARE RESERVED/TARGETED FOR FORMERLY HOMELESS AND/OR DISABLED HOUSEHOLDS.THE ORGANIZATION HAS RECENTLY COMPLETED A 72 APARTMENT NEW CONSTRUCTION DEVELOPMENT NAMED MUIRS LANDING. THIS IS A MIXED INCOME DEVELOPMENT WITH THREE LEVELS OF RENTS AFFORDABLE TO HOUSEHOLDS EARNING 30, 50, AND 60% OF THE AREA MEDIUM INCOME.THE ORGANIZATION IS DEVELOPING A NEW CONSTRUCTION DEVELOPMENT NAMED REDHILL POINTE. THIS IS ANOTHER MIXED INCOME DEVELOPMENT WITH THREE LEVELS OF RENTS AFFFORDABLE TO HOUSEHOLDS EARNING 30, 50, AND 60% OF THE AREA MEDIAN INCOME. AT THIS TIME THE DEVELOPMENT HAS JUST BEEN COMPLETED AND RENT UP IS UNDER WAY.ON OCTOBER 4, 2022, THE DEVELOPMENT KNOWN AS SOUTHWOODS WAS AWARDED LOW INCOME HOUSING TAX CREDITS OF $546,331 AND A $640,000 RENTAL PRODUCTION LOAN BY THE NORTH CAROLINA HOUSING FINANCE AGENCY. ADDITIONALLY, ON MAY 3, 2022, AHM WAS AWARDED A $2,070,000 AMERICAN RESCUE PLAN (ARP) GRANT FOR THE SOUTHWOODS DEVELOPMENT. THIS WILL BE A MAJOR REHABILITATION OF AN EXISTING AHM TAX CREDIT PROPERTY ORIGINALLY BUILT IN 1996. THE RENTS WILL BE AFFORDABLE TO HOUSEHOLDS EARNING 50% OR BELOW THE MEDIAN AREA INCOME. SOUTHWOODS HAS 59 STUDIO APARTMENTS THAT HAVE BEEN AND WILL CONTINUE TO PROVIDE HOUSING TO SINGLE PEOPLE, MANY WHO ARE DISABLED OR HAD BEEN PREVIOUSLY HOMELESS.SINCE 2011, ALL AHM NEW CONSTRUCTION DEVELOPMENTS HAVE RECEIVED NATIONAL ASSOCIATION OF HOME BUILDERS GREEN BUILDING STANDARD AND ENERGY STAR CERTIFICATIONS AND THE ORGANIZATION RECEIVED THE NATIONAL ASSOCIATION OF HOME BUILDERS RESEARCH CENTER 2011 GREEN PARTNER OF THE YEAR AWARD AND WAS SELECTED A 2020 NATIONAL GREEN BUILDING STANDARD GREEN PARTNER OF EXCELLENCE.OTHER ACTIVITY INCLUDED THE INVESTIGATION AND ANALYSIS OF PURCHASING EXISTING APARTMENT COMPLEXES AND LAND SUITABLE FOR AFFORDABLE HOUSING.