CSG ADVISORS, INC. - 2015 - Laserfiche WebLink

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CSG Advisors Incorporated January 28, 2015 Proposal; Housing Financial Analytical and Advisory Services Page 9 of 25 million City of Industry Funds administered by the County of Los Angeles and for the Long Bench Housing Development Department. New housing trust funds for San Francisco, Denver, Seattle, Los Angeles and Sacramento. Example: Phoenix Best Practices Study. CSG undertook an extensive study of affordable housing best practices for the City of Phoenix. Our client, the Housing Department of the City of Phoenix, is unusual in combining many functions under one roof that are handled by separate agencies elsewhere. The Department administered federal housing funds "'(HOME, CDBG and HOPWA), general obligation bond proceeds, public housing funds, and other funding sources. It, addition to public housing, it owns and operates rental housing funded from City sources, makes loans and grants to developers, and administers first time homebuyer programs. The Department sought the study in order to help it respond to changes in both the Phoenix housing market (rapidly appreciating in the past several years) and the federal public housing programs. CSG drew upon its experience with housing agencies across the country to analyze the Departments programs and operations and recommend new financing strategies for its homeownership programs, rental housing programs (including public housing) and general departmental operations. Some recommendations focused on how existing resources could be restructured to provide a greater impact (for example, by implementing 40, year first time homebuyer mortgages, using HOME funds to write down interest rates for first time homebuyers, and establishing consistent affordability standards as a condition of receiving public funds). Other recommendations emphasized securing new resources for the Department (e.g. incorporating 4% tax credits into its new affordable rental housing development, earning development fees on public housing "redevelopineat, and making -efficient use "of publicly owned land for affordable housing). A key element of CSG's recommendations was to establish a set of objectives or criteria that the City could use to judge new initiatives, and to require that initiatives contribute to achieving all four of those objectives: provide long-term affordability; create wellclesigned, mixed income neighborhoods; increase the Department's financial and development capacity; and create ;effective partnerships. Following the study we have helped implement numerous b. Advisory Services for Multi- Family Bond Transactions Overall Level of Experience. CSG has been the leading advisor both in California and nationally on private activity multi- family housing bonds. Total Private Activity Multi - Family Housing Transactions