(VVSD) Phase 5 Loan Recommendation

San Diego Housing Commission
Veterans Village of San Diego (VVSD) Phase 5
Loan Recommendation
March 14, 2014
Ann Kern
Director, Housing Development and Finance
Real Estate Division
Ted Miyahara
Manager, Real Estate Division
San Diego Housing Commission
SDHC Loan Recommendation
VVSD Phase 5
Location Map
Subject
Marine Corps Recruit Depot
SD Airport
SDHC Loan Recommendation
VVSD Phase 5
Floor Plans
1
2
3
4
Transitional Units
2-Bedroom Apartment Style
5
6
7
9
Laundry
Manager
Storage
Dentist
Administrative &
Supportive Services
8
Laundry
Manager
Hygiene
Administrative
& Counseling
Gym
Library
SDHC Loan Recommendation
VVSD Phase 5
VVSD Program Specifics
Continuum of Care to Military Veterans
o Housing
o Outreach, Intake & Assessment
o Supportive Services & Treatment
o Links to Permanent Housing & Permanent Supportive
Housing
o Aftercare
Programs & Counseling Services
o Substance Abuse Recovery
o Mental Health Counseling
o Job Training & Job Search Assistance
o Legal Services
SDHC Loan Recommendation
VVSD Phase 5
VVSD Site Plan
SDHC Loan Recommendation
VVSD Phase 5
SDHC Financial Participation Phase I-V
SDHC Loan Recommendation
VVSD Phase 5
Sources & Uses of Permanent Financing
Sources of Funding
Use of Funding
City of San Diego
1,746,601 Construction Hard Costs
Housing Commission
1,444,846 Soft Costs
952,588
Federal Home Loan Bank
500,000 Reserves
36,850
Home Depot Grant
County of San Diego
200,000 Developer Consultant Fees
50,000
Total Project Sources
$3,941,447 Total Project Uses
Housing Commission Subsidy per Bed
180,000
$3,941,447
Funding Request
Housing Commission Total Subsidy
2,772,009
$1,444,846
$72,242
SDHC Loan Recommendation
VVSD Phase 5
End of Presentation