2015: A YEAR IN REVIEW. ROEM Corporation - Franklin St. Family Apartments

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Evelyn Johnston
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1 2015: A YEAR IN REVIEW ROEM Corporation - Franklin St. Family Apartments

John Barton, Chair Stanford University Hon.

2 ROEM Corporation - Franklin St. Family Apartments OUR MISSION Our mission is to make Silicon Valley a more aﬀordable place to live. The Housing Trust makes loans and grants to increase the supply of aﬀordable housing, assist ﬁrst-time homebuyers, prevent homelessness & stabilize neighborhoods. John Barton, Chair Stanford University Hon. Daniel Furtado City of Campbell Candice Gonzalez, First Vice Chair Rachel Grossman Google Palo Alto Housing Corporation Kathleen King, Second Vice Chair Healthier Kids Foundation Hon. Ash Kalra City of San Jose Robert Sherrard, Treasurer Technology Credit Union Linda Mandolini Eden Housing, Inc. Sparky Harlan, Secretary Bill Wilson Center Lorena Mendez-Quezada Wells Fargo Shiloh Ballard Silicon Valley Bicycle Coalition John McLemore Goliath Business Group George Brown Gibson, Dunn & Crutcher, LLP Amanda Montez Silicon Valley Leadership Group John Paul Bruno Yahoo! Hilda Ramirez Santa Clara County Association of REALTORS Mary Chandler Bank of America Art Fatum MidPen Housing Eden Housing - Ford Road Plaza Craig Robinson Silicon Valley Bank Hon. Steve Tate City of Morgan Hill

A LETTER FROM THE CEO This past year was a big year for Housing Trust Silicon Valley, as we celebrated our 15 th Anniversary, marking a decade and a half of working with our partners to make Silicon

This year we served our 20,000 th client Lynn Lovely, a single mother who finally realized her dream of homeownership with the assistance of Housing Trust s first-time homebuyer program.

3 A LETTER FROM THE CEO This past year was a big year for Housing Trust Silicon Valley, as we celebrated our 15 th Anniversary, marking a decade and a half of working with our partners to make Silicon Valley a more affordable place to live. This year we served our 20,000 th client Lynn Lovely, a single mother who finally realized her dream of homeownership with the assistance of Housing Trust s first-time homebuyer program. We also hit another milestone this year as we invested $100 million into our community to create more affordable housing opportunities for the valley s residents also saw other exciting accomplishments for the Trust - in February Housing Trust Silicon Valley became the first non-profit CDFI to become Standard & Poor s rated, earning a AAcredit rating. We welcomed six new community partners to our Board, reflecting not only its outstanding leadership, but also the broad range of support from the corporate and nonprofit sectors in the region. This past summer, two years of research, focus groups and hard work culminated with the launch of SV@Home, a new affordable housing policy organization. Currently incubated at the Trust, SV@Home is lead by former City of San Jose Housing Director Leslye Corsiglia, and will lead affordable housing policy and advocacy efforts in Santa Clara County. The launch of the organization was the product of a great deal of support from local stakeholders, housing organizations, and corporate partners, and produced what is sure to be a new affordable housing champion for the region. While we look back at our highlights from the past year, we are also reminded of the work that remains to be done in the coming year. We can t thank you enough for your support and partnership in helping to make the impact we ve had. We value this partnership more than ever as we move into the new year and continue to work to make Silicon Valley a more affordable place to live for all its residents. Sincerely, Kevin Zwick CEO, Housing Trust Silicon Valley

Eden Housing - Ford Road Plaza Eden Housing - Ford Road Plaza MULTI-FAMILY LENDING Housing Trust provides predevelopment, acquisition, construction/rehab or bridge ﬁnancing to developers throughout

These aﬀordable rental homes provide housing for low-income households, seniors living on ﬁxed incomes, the formerly homeless, and individuals with disabilities.

4 Eden Housing - Ford Road Plaza Eden Housing - Ford Road Plaza MULTI-FAMILY LENDING Housing Trust provides predevelopment, acquisition, construction/rehab or bridge ﬁnancing to developers throughout the Bay Area who are developing multi-family housing for extremely low- to low-income households. These aﬀordable rental homes provide housing for low-income households, seniors living on ﬁxed incomes, the formerly homeless, and individuals with disabilities. THIS YEAR, 728 AFFORDABLE RENTAL UNITS WERE BUILT, PROVIDING HOMES FOR 1,019 PEOPLE SUPPORTIVE HOUSING FUND Housing Trust Silicon Valley s Supportive Housing Fund, launched in August of 2015, is a joint venture between the County of Santa Clara and Housing Trust Silicon Valley that oﬀers 0% interest loans to spur development of supportive housing for the homeless and those with special needs. Allied Housing has received a loan for a motel to serve the homeless, providing 56 temporary housing opportunities with supportive services, including permanent housing placement assistance. First Community Housing was awarded the second loan for Leigh Avenue Senior Apartments. This transit-oriented inﬁll property will create 64 senior apartments, with at least 15 reserved for seniors with disabling conditions who will receive supportive services.

This program provides onetime security deposit grants of up to $2,500 to families and individuals who are at risk of becoming homeless or who are moving from homelessness to permanent housing.

5 FINALLY HOME Homelessness prevention and assistance has been a top priority for Housing Trust since our inception 15 years ago. The latest form this assistance has taken is the Finally Home Grant Program, launched in 2012 in response to changing community needs and new collaborations. This program provides onetime security deposit grants of up to $2,500 to families and individuals who are at risk of becoming homeless or who are moving from homelessness to permanent housing. IN 2015, 202 SECURITY DEPOSIT GRANTS WERE GIVEN, TOTALING $309,844 AND HELPING 483 INDIVIDUALS HOMEOWNERSHIP ASSISTANCE Housing Trust provides down payment assistance and mortgage assistance loans to help low- to moderate- income homebuyers break into one of the most expensive housing markets in the country. In addition to preapproving 76 ﬁrst-time homebuyer loans, the Homeownership Program oﬀered educational resources to 630 prospective homebuyers and new homeowners in the form of pre-purchase education workshops, one-on-one counseling, and post-purchase boot camps this year. THIS YEAR, 37 HOUSEHOLDS RECEIVED LOANS OR GRANTS TO PURCHASE OR PRESERVE THEIR HOME Charlotte bought her first home in the fa

6 Financials As of June 2015 (Audited) ASSETS Cash & Investments $ 13,706,480 Accounts & Contributions Receivable $ 1,431,856 Total Notes Receivable $ 37,069,733 Other Assets $ 346,007 Total Assets $ 52,554,076 LIABILITIES & NET ASSETS Accounts Payable $ 92,231 Notes Payable $ 6,650,000 Grants Payable $ 28,764 Other Liabilities $ 639,772 Bank Loan Capital $ 5,002,813 Net Assets $ 40,140,496 Five-Year History of Net Assets $45,000, $40,000, $35,000, $30,000, $25,000, $20,000, $15,000, $10,000, $5,000, $ Total Liabilities & Net Assets $ 52,554,076 Condensed Statement of Activities and Changes in Net Assets for the Fiscal Year Ended June 30, 2015 REVENUE NSP2 $ 3,215,563 Government Grants & Contributions $ 2,545,064 Private Contributions $ 1,156,020 Investment & Program Revenue $ 993,417 Total Revenue $ 7,910,064 EXPENSES Management & General $ 134,897 Program & Operating Expenses $ 3,007,775 Fundraising Expenses $ 175,190 Total Expenses $ 3,317,862 Five-Year History of Total Assets $60,000, $50,000, $40,000, $30,000, $20,000, $10,000, Increase in Net Assets $ 4,592,202 Net Assets, Beginning of the Year $ 35,548,294 Net Assets, End of the Year $ 40,140,496 $

7 THANK YOU FOR YOUR GENEROUS SUPPORT IN FISCAL YEAR 2015 $1 million and more Department of Treasury $250,000 to $1 million State of California - Department of Housing & Community Development Silicon Valley Leadership Group $100,000 to $250,000 City of Mountain View City of Sunnyvale Google Wells Fargo Foundation $50,000 to $99,999 Bank of America Housing Authority of Santa Clara County Knight Foundation Taproot Foundation $25,000 to $49,999 Applied Materials Cisco Systems, Inc. LinkedIn Silicon Valley Bank Silicon Valley Community Foundation U.S. Bank $10,000 to $24,999 Boston Private Bank City of Morgan Hill City of San José The Core Companies EAH Housing Eden Housing, Inc. MidPen Housing Schwab Fund for Charitable Giving Synopsys Corporation $5,000 to $9,999 Bridge Housing California Apartment Association, Tri-County Division Charities Housing Development Corporation Comerica Bank-California CTBC Bank Cupertino Electric, Inc. First Community Housing Habitat for Humanity East Bay/Silicon Valley HSBC Bank Junior League of San Jose Jim Koshland John McLemore LifeSTEPS, Inc. North 40 Palo Alto Housing Corporation Symantec Technology Credit Union Union Bank of California $2,000 to $4,999 Armanino LLP Bridge Bank Chase Focus Business Bank Gibson, Dunn & Crutcher LLP Heritage Bank of Commerce McPharlin Sprinkles & Thomas LLP MLSListings Neighborhood Housing Services Silicon Valley Pacific Gas & Electric Related Companies of California ROEM Development Corporation Maureen Shilling Sunpower Foundation $1,000 to $1,999 American Leadership Forum George Brown John Bruno Mary Chandler City of San Jose - Housing Department Hunter s View Development Team Linda Mandolini Lorena Mendez-Quezada Michael Roberts Construction Resources For Community Development Jack Russi Santa Clara County Assoc. of REALTORS The John Stewart Company William H. Cilker Family Foundation Yahoo!

Strategic Plan

Strategic Plan 2016-2020 Eden Housing s mission is to build and maintain high-qualit y, well-managed, ser vice-enhanced af fordable housing communities that meet the needs of lower income families, seniors