How simple ways to make money to bolster public housing in alexandria

The alexandria redevelopment and housing authority (ARHA) administers federal housing programs, including public housing and “section 8” vouchers, locally. ARHA currently serves over 2,700 households, 95 percent of which make less than $50,000 annually, and about a quarter of which make less than $10,000. The private housing market provides essentially zero options at these simple ways to make money income levels. ARHA’s waiting list includes another 8,500 households.

Despite the need, ARHA contends with severe money problems. Revenues from tenant rents are small, and HUD funding for traditional public housing has historically dwindled. As a result, ARHA faces an estimated $84 million of deferred capital maintenance, according to rhae parkes, a frequent consultant to ARHA and the city government on simple ways to make money public housing matters.

RAD enables housing authorities, by a kind of legal paperwork shuffle, to “convert” public housing properties to fall under a different framework of simple ways to make money federal housing legislation. While cost-neutral at the federal level, the conversion would streamline the way ARHA receives, and confer greater flexibility in how it may spend, its federal dollars. RAD conversion would also cede from HUD to ARHA fuller simple ways to make money control of ARHA’s land. ARHA would see increased operating cash flow and the ability simple ways to make money to lock in subsidization levels for 15-20 years at a time, under contracts which legally must be renewed. ARHA could take this localized control, improved cash flow and predictability to the bank in order simple ways to make money to secure loans.

In conjunction with RAD conversions, ARHA would likely continue redeveloping its more valuable properties, especially in old town, as it’s done in the past. ARHA wants “to redevelop at significantly greater scale [density] so [it] can cross-subsidize” the lowest-income units with land sale proceeds or higher rents from simple ways to make money better-off households in mixed-income communities, said parkes.

For example, ARHA recently sought to redevelop its andrew adkins site, together with CRC, a private builder. The adkins comprises 1.5 contiguous blocks immediately adjacent to the braddock road metro simple ways to make money station, making it a potentially lucrative redevelopment opportunity and ARHA’s most valuable piece of land. CRC would’ve bought part of the land to build a market-rate high-rise. ARHA would’ve used the land sale proceeds, plus financing through a federal tax credit program, to rebuild new subsidized units. That particular deal fell through, but the principle is illustrative.

The legal aid justice center, the nonprofit that represented the hopewell residents, said in a statement at the time: “RAD is often touted as the new frontier of public simple ways to make money housing, but advocates are concerned that the program lacks adequate accountability simple ways to make money to protect residents’ rights. Lack of HUD oversight and broad program discretion under RAD simple ways to make money can lead to situations like hopewell. … these ‘public-private partnerships’ are still publicly funded and their purpose is to serve simple ways to make money the lowest income community members, not primarily for developers or investors to make money.”

RAD legislation requires that, after conversion, tenants maintain the right to a clear grievance process and simple ways to make money to landlord-provided funds to support tenant organizing activities. The law also requires housing authorities to hold at least simple ways to make money two meetings with affected tenants and submit tenants’ comments to HUD, as part of HUD’s consideration of whether to approve conversion.

According to an april 10 memo from city manager mark simple ways to make money jinks: “the affordable housing plan will allow the city to review simple ways to make money ARHA’s plans for tenant relocation, identify temporary and permanent replacement units, and affordability levels of the proposed redevelopment project, among other things. Affordable housing plans are reviewed by the alexandria housing affordability simple ways to make money advisory committee and the landlord tenant relations board.”