San Antonio Housing Trust Foundation

Posted on 04/17/2023 at 9:35 AM AGENDA A Regular Board Meeting for: SAN ANTONIO HOUSING TRUST FOUNDATION will be held at Municipal Plaza B Room 114 W Commerce St., San Antonio, TX 78205 and virtually via ZOOM: https://us02web.zoom.us/j/85969694621?pwd=QUZ4Kzg0NkNwOFoweW80aGxHdThSUT09 DIAL-IN NUMBER: 1-346-248-7799 MEETING ID: 859 6969 4621 PASSWORD: 731593 On Friday, April 21, 2023, beginning at 2:00 p.m. or immediately following the adjournment of the San Antonio Housing Trust PFC Board Meeting NOTICE: A quorum of the board of directors will be physically located at 114 W Commerce St., San Antonio, TX 78205 at 2:00 p.m. One or more of the Directors may attend this meeting by video conference pursuant to the requirements set forth in the Texas Open Meetings Act. An electronic copy of the agenda packet may be accessed at the San Antonio Housing Trust website under the CALENDAR/Board Meeting date page prior to the meeting. NOTICE: This meeting of the Board, being held for the reasons listed below, is authorized in accordance with the Texas Government Code, Sections 551.001 - 551.146. Verification of Notice of Meeting and Agenda are on file in the Office of the Executive Director. 1. Call to Order and Roll Call 2. Discussion and possible action to approve minutes of February 17, 2023 3. Public Comment – Interested speakers will have 3 minutes each to address the Board on agenda items or housing policy related matters. 4. Discussion and possible action to approve the Tenant Emergency Assistance Matters Program. 5. Discussion and possible action to approve Resolution to authorize Executive Director to negotiate and execute a lease agreement for San Antonio Housing Trust Foundation office space at Fountainhead Tower and other related matters. 6. Executive Director’s Report Executive Session. The San Antonio Housing Trust reserves the right to adjourn into Executive Session at any time during the course of this meeting to discuss any of the matters listed on the posted agenda, above, as authorized by the Texas Government Code, Sections 551.071 (consultation with attorney), 551.072 (deliberations about real property), 551.073 (deliberations about gifts and donations), 551.074 (personnel matters), 551.076 (deliberations about security devices), and 551.087 (economic development). ANY ITEM DISCUSSED IN EXECUTIVE SESSION MAY BE ACTED ON IN OPEN SESSION Attendance by Other Elected or Appointed Officials: It is possible that members City boards, commissions and/or committees may attend the open meeting in numbers that may constitute a quorum. Notice is hereby given that the meeting, to the extent required by law, is also noticed as a meeting of any other boards, commissions and/or committees of the City, whose members may be in attendance in numbers constituting a quorum. These members of other City boards, commissions, and/or committees may not deliberate or take action on items listed on the agenda. [Attorney General Opinion – No. GA-0957 (2012)]. This facility is wheelchair accessible and accessible parking spaces are available. Requests for accommodation or interpretative services must be made 48 hours prior to this meeting. Please contact Nicole Collazo, for concerns or requests, at (210) 735-2772 or FAX (210) 735-2112.  San Antonio Housing Trust Foundation Agenda Item 2 This item includes the approval of minutes from the February 17, 2023, meeting.  San Antonio Housing Trust Foundation 2023 OFFICIAL MEETING MINUTES DATE: Friday, February 17, 2023 TIME AND PLACE: The San Antonio Housing Trust Foundation met in session at 2:46 p.m., via Zoom and in person at 114 W Commerce St, San Antonio, TX 78205. PRESENT: Councilwoman Adriana Rocha, Mark Carmona, Jalen McKee-Rodriguez, Councilman John Courage, Jordan Ghawi, Rachell Hathaway, Marinella Murillo, Jane Pacione, Councilwoman Teri Castillo, and Councilwoman Phyllis Viagran. ABSENT: Antoinette Brumfield and Eric Cooper. STAFF/VISITORS PRESENT: Pedro Alanis- Executive Director San Antonio Housing Trust Foundation; Nicole Collazo- Director of Operations San Antonio Housing Trust Foundation; Tom Roth- Director of Development; Jessica Kuehne- Director of Asset Management San Antonio Housing Trust Foundation; John Hernandez- Senior Asset Manager San Antonio Housing Trust Foundation; Lauren Bejaran- Sr. Administrative Assistant San Antonio Housing Trust Foundation; Ruben Lizalde- D3; Edward Muniga- D4; Ileana Sandoval- D9; Summer Greathouse- Attorney Bracewell; Clarissa Rodriguez- Attorney DNRBZ; Avis Chaisson- Executive Director Palladium USA #8; Ryan Wilson- Franklin Development; Jose Gonzales- Alamo Community Group; Nikisha J. Baker- President and CEO SAMMinistries.. 1. CALL TO ORDER AND ROLL CALL: The meeting was called to order by President Adriana Rocha Garcia and the roll was called by Lauren Bejaran. 2. DISCUSSION AND POSSIBLE ACTION TO APPROVE MINUTES OF NOVEMBER 18, 2022, AND JANUARY 20, 2023. MINUTES COMMISSION ACTION: Councilman John Courage motioned, and Rachell Hathaway seconded to approve the November 18, 2022, and January 20, 2023, minutes, with the noted corrections. AYES: 10 NAYS: ABSTAINED: THE MOTION PASSED. 3. PUBLIC COMMENT – INTERESTED SPEAKERS WILL HAVE 3 MINUTES EACH TO ADDRESS THE BOARD ON AGENDA ITEMS OR HOUSING POLICY RELATED MATTERS. NONE. NO ACTION TAKEN. 4. RESOLUTION AUTHORIZING THE EXECUTION OF ALL FILINGS AND AGREEMENTS WITH THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS IN CONNECTION WITH APPLICATIONS FOR LOW INCOME HOUSING TAX CREDITS FOR  THE FOUR25 SAN PEDRO APARTMENTS TRANSACTION; AND OTHER MATTERS IN CONNECTION THEREWITH. Pete Alanis briefed to the board about The San Antonio Housing Trust Foundation serving as a non- profit member and Special Limited Partner and GRG Architects serving as the HUB with a 5% ownership interest in the general partner for the Four25 San Pedro Apartments. MINUTES COMMISSION ACTION: Jordan Ghawi motioned, and Councilwoman Phyllis Viagran seconded to approve Item #4 for the Four25 San Pedro Apartments. AYES: 10 NAYS: ABSTAINED: THE MOTION PASSED. 5. DISCUSSION AND POSSIBLE ACTION TO APPROVE A RESOLUTION AUTHORIZING RELEASING A REQUEST FOR QUALIFICATIONS FOR ON‐CALL PROJECT MANAGEMENT AND OWNERS’ REPRESENTATIVE. Pete Alanis briefed to the board about The San Antonio Housing Trust Foundation releasing a Request for Qualifications for qualified on-call Project Management and Owners Representative, to represent SAHT in all phases of the development process for future projects. MINUTES COMMISSION ACTION: Rachell Hathaway motioned, and Councilwoman Phyllis Viagran seconded to approve a resolution authorizing releasing a Request for Qualifications for On-Call Project Management and Owners Representative. AYES: 10 NAYS: ABSTAINED: THE MOTION PASSED. 6. DISCUSSION AND POSSIBLE ACTION TO APPROVE A RESOLUTION AUTHORIZING RELEASING A REQUEST FOR QUALIFICATIONS FOR ON‐CALL ARCHITECTURAL SERVICES. Pete Alanis briefed to the board about The San Antonio Housing Trust Foundation releasing a Request for Qualifications for a qualified Architectural firm, to represent SAHT in all phases of future projects, including conceptual renderings, cost estimation, site and redevelopment planning, master planning, and other related service required for completion of work items. MINUTES COMMISSION ACTION: Councilman John Courage motioned, and Councilwoman Phyllis Viagran seconded to approve a resolution authorizing releasing a Request for Qualifications for On-Call Architectural Services. AYES: 10 NAYS: ABSTAINED: THE MOTION PASSED. 7. EXECUTIVE DIRECTOR’S REPORT Pete Alanis briefed to the board that the Executive Director’s Report would be discussed in a future PFC  Meeting. No discussion was made. NONE. NO ACTION TAKEN. 8. ADJOURNMENT Vice President Jane Paccione adjourned the meeting. There being no further business, the meeting adjourned at 3:09 p.m.  San Antonio Housing Trust Foundation Agenda Item 3 Public Comment Interested speakers will have 3 minutes each to address the Board on agenda items or housing policy related matters; a total of 15 minutes will be provided. Instructions to sign up for Public Comment via Zoom video conference. To sign up for Public Comment please call 210-735-2772 24 hours prior to this meeting to place your name on the list.  San Antonio Housing Trust Foundation Agenda Item 4 Briefing and possible action on the Tenant Emergency Assistance Matters Program. Summary SAHT has integrated a Tenant Assistance Fund in three developments to date. The funding of which will occur as development fees and other revenues are earned in the project’s development. We are also establishing similar funds for new developments moving forward.  Lofts at Creekview ($451,000)  Loma Vista ($318,000)  Los Arcos ($486,000) Staff anticipates the first units built to come online in October 2023 and first eligible applications in January 2024. In anticipation of the start of the program, SAHT must develop policies and procedures to ensure the successful delivery of the program. The renamed Tenant Emergency Assistance Matters (TEAM) Program provides rental assistance to tenants at or below 60% of Area Median Income (AMI) at participating apartment communities who are experiencing emergency hardships, an increase in medical expenses due to an unexpected emergency hardship, or a financial crisis resulting from loss of employment, change in family composition, or change in household income. The program will also encourage and pay for optional financial literacy courses as well as provide resource references to tenants. Staff is recommending the administration of the program be implemented through the SAHT Foundation staff directly instead of relying on individual property management teams. This programmatic function will be incorporated into the responsibilities of a new Asset Management position that is currently budgeted. Staff also revised management procedures to accept and process applications. We are also recommending an annual cap on assistance per participating property based on 10% of the initial fund amount. Staff recommends caping the assistance to ensure SAHT can gauge the fiscal impacts of the fund. The annual cap may be adjusted in future years as needed. Recommendation Staff recommends the Foundation Board approve the program policy. Attachment: TEAM Policy and Procedures Tenant Emergency Assistance Matters (TEAM) Program Policy and Procedures The purpose of this Policy is in support of San Antonio Housing Trust Foundation’s mission of creating and preserving housing that is affordable, accessible, attainable, and sustainable to San Antonio residents; and to support community development efforts that build and sustain neighborhoods, empower residents, and provide positive equitable outcomes. The Foundation shall administer this program in accordance with this Policy, the Resident/Tenant Protection Policy and any guidelines provided by the Fair Housing Act. At SAHT affiliated apartment communities contributing to the Fund, the Tenant Emergency Assistance Matters (TEAM) Program provides rental assistance to tenants at or below 60% of Area Median Income (AMI) who are experiencing emergency hardships, increased medical expenses due to an unexpected emergency hardship, or a financial crisis resulting from loss of employment, change in family composition, or change in household income. These funds will be used to prevent displacement by making them available to residents in need of rental assistance. Approval will be based on a first come, first serve basis for eligible residents and will be subject to funding availability. Tenants will not be required to reimburse the apartment community or the Foundation. Use of these funds will require prior application, documentation, and verification by Property Management and Foundation staff. All applications and qualification documents will be submitted by Property Management electronically to the Foundation for review and final approval. Tenant Eligibility Requirements: • Must be a primary lease holder at the participating property for at least three (3) months before assistance is requested. • Must have a total gross household income at or below 60% of the Area Median Income (AMI) at time of initial certification or most recent recertification. • Must not have received rental assistance from the Tenant Emergency Assistance Matters Program in the last twelve (12) months. • Must not have received three (3) or more lease violations in last twelve (12) months. • Must not be in the eviction process for Non-Rent Breach of Lease. • Must prove that tenant’s household lacks the financial resources needed to continue to meet the financial obligations of the lease due to a change of household income or expenses. Evidence of a reduction in household income, change in family composition, or increase in household expenses will be required. Examples of documentation may include: o unemployment application o notice of termination\lay off\furlough o notice of reduction of pay o notice of reduction of hours o change of household size o proof of increased medical expenses due to an unexpected emergency hardship Other documentation such as bank statements may be required on a case-by-case basis. The application will not be considered completed until all supporting documentation is provided by tenant/household. San Antonio Housing Trust Foundation April 12, 2023 1 Eligible Tenants may receive: • Up to one (1) month of rental assistance, with a maximum of one (1) month’s contractual rent. Rental assistance may include rent, late fees and other reasonable fees needed to prevent displacement. • Payments will be administered directly to property management on behalf of the tenant, post approval. • Payments for rent and fees will be applied to the resident’s ledger if funds are available. An accepted/approved application does not guarantee that rental assistance will be provided. • Cost of registration and/or transportation fees for financial literacy courses up to $50. Financial literacy courses are encouraged but not required for approval. Tenants may lose eligibility for: • Failure to comply with this Policy. • Total household income increasing above 60% AMI during application period. • Ceasing to be a Tenant at the property. • Obtaining three (3) or more lease violations during the application process. Management Requirements: • Onsite office staff will gather the required application and qualification paperwork from applicant(s) and electronically submit the application packet, along with 1st page of active lease agreement, 60% Income Certification and resident’s ledger to the FOUNDATION email: TeamProgram@saht.org. • Once received by San Antonio Housing Trust administrator, the completed application file will be reviewed by FOUNDATION to verify the household qualified at or below the 60% AMI threshold as of the last Tenant Income Certification and that the household is experiencing an emergency hardship or financial crisis. • If the household meets all eligibility requirements, FOUNDATION will be responsible for approving the total amount authorized and arranging payment to property management. Upon approval -  FOUNDATION will notify on-site community management in writing and provide approval documentation.  Onsite community management will notify the applicant of the approval and provide FOUNDATION approval document to the applicant. Upon Denial -  If the household does not meet the eligibility requirements, FOUNDATION will notify on- site community management in writing within three (3) business days of the date of the completed application.  Onsite community management will notify the applicant of the denial and provide FOUNDATION denial document to the applicant.  No rental assistance will be granted for the household for at least 30 days from the date of denial. • Onsite management will keep a copy of the rent ledger including the balance due in the resident’s file along with documentation of the awarded amount or denial of application. • Funds approved by FOUNDATION must be applied to the approved resident’s ledger except for the financial literacy course which will be provided directly to the instructing entity. • Onsite management must keep a written summary of all households, including denied applicants, identifying the application date, tenant’s name, unit number, lease term, dates of assistance, type of assistance provided, and total amount funded, or reason for denial. • Onsite management will provide FOUNDATION with a copy of the updated resident ledger to reflect the Tenant Emergency Assistance Matters payment. San Antonio Housing Trust Foundation April 12, 2023 2  • Onsite management will keep a copy of this Policy onsite and ensure staff members are properly trained in implementing this Policy and making tenants aware of the TEAM Program Upon receipt of the maximum amount of assistance, the tenant will be expected to resume paying rent per the lease agreement. The TEAM policy is subject to change at the discretion of the San Antonio Housing Trust Board. The TEAM Program will comply with state and federal fair housing and anti-discrimination laws, including but not limited to consideration of reasonable accommodations requested to complete the application process. Annual Funding Caps: SAHT Foundation shall set a maximum cumulative amount of tenant assistance per calendar year at each participating apartment community at 10% of the initial fund amount unless otherwise specified. For example if the initial contribution is $300,000, the maximum annual amount of assistance will be $30,000 for that apartment community. San Antonio Housing Trust Foundation April 12, 2023 3  San Antonio Housing Trust Foundation Agenda Item 5 Possible action to approve resolution to authorize Executive Director to negotiate and execute a contract for San Antonio Housing Trust Foundation office lease. Executive Director executed a non-binding Letter of Intent on an office lease at Fountainhead Tower located at 8200 IH-10 W, San Antonio Texas, 78230. We have agreed to the following summarized terms. Term: Eighty-Nine Month Lease (7 years) Premises: 3,891 SF in Suite 510 (5th Floor) Abated Rent: Five Months of Base Rent and NNN (Months 1, 13, 25, 37, 49) plus 12 Months of Abated rent for 399 SF Base Rent: $17.50 NNN/SF (NNN est. at $14/SF) Renewal Option: One option for additional 5 years (9 Months’ Notice) ROFR: Neighboring Vacancy on adjacent space Termination Option: Option at 65th Month (5 years); Penalty equal to last month’s rent/NNN plus unamortized costs associated with TI and Brokers Commission at 8% interest rate. Improvements: Landlord to construct turnkey using Class A finishes with inclusion of negotiated alternatives at Landlords cost. Brokers Fee: 4% paid by landlord. Recommendation Staff recommends approving resolution authorizing the Executive Director to negotiate and execute a contract for San Antonio Housing Trust Foundation office lease. Attached: Resolution Letter of Intent  SAN ANTONIO HOUSING TRUST FOUNDATION, INC. RESOLUTION NO. _______________ A RESOLUTION BY THE BOARD OF DIRECTORS AUTHORIZING THE EXECUTIVE DIRECTOR TO NEGOTIATE AND EXECUTE A LEASE AGREEMENT FOR OFFICE SPACE LOCATED WITHIN THE FOUNTAINHEAD TOWER IN SAN ANTONIO, TEXAS, WITH EOS AT FOUNTAINHEAD LLC AS LANDLORD; AUTHORIZING SIGNATORIES; AND ADDRESSING RELATED MATTERS. RECITALS WHEREAS, the San Antonio Housing Trust Foundation, Inc. (sometimes “SAHT”) finds that the relocation of its offices and leasing more suitable office space as described herein is necessary for the successful operation of SAHT in carrying out its primary goals and purposes in providing low- and moderate-income housing and revitalizing neighborhoods in the community; and WHEREAS, the SAHT finds that the relocation of its offices through the leasing of premises within the Fountainhead Tower, located at 8200 IH-10, will provide the SAHT with a suitable and resourceful location from which to carry out its purposes; and WHEREAS, the SAHT has reviewed a letter of intent provided by the prospective Landlord, EOS at Fountainhead, LLC (sometimes “EOS”), and desires to lease approximately 3,891 square feet of rentable space within the Fountainhead Tower from EOS; and WHEREAS, the Board of Directors hereby finds that it is in the best interests of the San Antonio Housing Trust Foundation, Inc. to provide written authorization for the Executive Director to negotiate and execute a lease agreement with EOS and relocate its offices to the location described herein; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SAN ANTONIO HOUSING TRUST FOUNDATION, INC., THAT: Section 1. The above Recitals are true and correct, and are a material part of this Resolution and are incorporated herein for all purposes; Section 2. The Board of Directors of the San Antonio Housing Trust Foundation, Inc., hereby authorizes the Executive Director to negotiate, finalize, and execute a lease agreement for approximately 3,891 square feet of rentable space within the Fountainhead Tower, with reference to the letter of intent attached as Exhibit “A” to this Resolution. Section 3. The Executive Director, or any officer as authorized by and consistent with the San Antonio Housing Trust Foundation, Inc. bylaws and policies, is hereby authorized to submit this Resolution as written authorization to lease office space within the Fountainhead Tower, on behalf of the San Antonio Housing Trust Foundation, Inc., and to negotiate and execute all required lease transaction documents necessary to complete the transaction. Section 4. All resolutions, or parts thereof, which are in conflict or inconsistent with any provision of this Resolution are hereby repealed to the extent of such conflict, and the provisions of this Resolution shall be and remain controlling as to the matters resolved herein. Section 5. This Resolution shall be construed and enforced in accordance with the laws of the State of Texas and the United States of America. Section 6. If any provision of this Resolution or the application thereof to any person or circumstance shall be held to be invalid, the remainder of this Resolution and the application of such provision to other persons and circumstances shall nevertheless be valid, and the Board of Directors hereby declares that this Resolution would have been enacted without such invalid provision. Section 7. It is officially found, determined, and declared that the meeting at which this Resolution is adopted was open to the public and public notice of the time, place, and subject matter of the public business to be considered at such meeting, including this Resolution, was given, all as required by Chapter 551, Texas Government Code, as amended. Section 8. This Resolution shall be in force and effect from and after its final passage, and it is so resolved. PASSED AND APPROVED this day of , 2023. SIGNED: Councilwoman Adriana Rocha Garcia President ATTEST: Jordan Ghawi, Secretary  EXHIBIT “A” (SEE ATTACHED LOI)  San Antonio Housing Trust Foundation Agenda Item #6 EXECUTIVE DIRECTOR’S REPORT 2nd Quarter 2023 Quarter 2 Progress Report (thru March 31, 2023) The SAHT Five Year Strategic Plan established a new approach to goal setting and progress monitoring. Below is a list of priorities and actions by our team which provides insight into what our organization does day in and day out. Objective Q2 Priority Result Clarify the Role of the Trust in the Local Housing System Housing Commission  Presentation on Land Banks & CLT’s  Urged removing barriers committee to include universal design and land banks in priority topics in 2023 Learning Sessions  Executive Director provided City Manager’s Office with presentation on Land Banks and CLT’s  Provided Lunch and Learn for Board Members on CLT’s Invest in the Trust’s Capacity to Grow Asset Management/Compliance  Created internal dashboard to provide trends and insights on performance of apartment communities.  Began unannounced/anonymous site visits to each property  Finalized all 2022 monitoring reports. Organizational Development Plan  Met one on one with each staff member.  Prepared updated job descriptions.  Reviewed training opportunities. Financial Plan  Presented a Five-Year Financial Cash Flow Analysis to Board  Include a Five-Year expense & revenue forecast. Facilitate the Preservation of Affordable Rental Housing MF Development Policy  Board advised staff to accept conventionally financed applications.  Specific policy criteria were not established in Q2 Partner with LIHTC Developments  PFC Board Induced 3 - 4% LIHTC Partnerships (rehab) Contribute to Construction of New Affordable Rental Housing Universal Design Standards  Committee finalized workgroup elements and made recommendations to a technical working group finalize format and technical elements. Partner with LIHTC Developments  PFC Board Induced 4 - 4% LIHTC Partnerships  PFC Board Induced 1 - 9% LIHTC PSH Partnership Support Neighborhood Preservation Efforts Community Land Trust TA Grant RFP  Received and evaluating two CLT Proposals  Evaluation/Award will occur in Q3 Land Banking/Acquisition  Submitted LOI terms sheets for two potential properties.  Met with COSA staff to discuss Land Bank Strategy Engage in Advocacy at Local, State, and Federal Level Federal and State Agenda  Briefed Board on State Legislation impacting PFC/LIHTC  Board Members and staff attended the SA to DC Chamber Trip  Q2 Vitals Dashboard (thru March 31, 2023) FY 2023 FY 2023 FY 2023 Vital Definition 5 YR Goal Annual Q1 Q2 Target Total # of MF units of Total # of existing units closed from Oct. 2022 3,711 742 0 0 existing housing thru Sept., 2027 preserved 1 # of units preserved (below 30% AMI) 313 33 0 0 # of units preserved (31 and 80% AMI) 3,398 176 0 0 Total #of MF new units Total # of new units closed from Oct. 2022 5,925 103 563 0 added thru Sept., 2027 # of units added (below 30% AMI) 600 0 74 0 # of units added (31% and 60%AMI) 5,325 0 184 0 Total # of MF units Running total of rental units added for all Rolling # 8,649 7,361 7809 placed in service developments Total # of MF units Running total of rental units added for all Rolling # 2,961 3,886 3438 under construction developments # of PSH units produced PSH units produced for persons experiencing 300 0 0 0 chronic or at risk of homelessness Total # of land parcels Land parcels acquired for future housing Rolling # 0 0 0 placed in Land Bank projects Amount of $ for CLTs established and funded to prevent Rolling # $500k $0 $0 Community Land displacement and support neighborhoods Trust(s) Amount of $ awarded to Funding to non-profits to support the Rolling # $1M $0 $0 Non-Profits 2 preservation & production targets in the SHIP and provide PSH-related services. Amount of tax-exempt Rolling # $68M $0 $0 bonds issued 3 1. Rehabilitation Pipeline is 770 Units (Westwood, Spanish Spur & Pecan Manor, Winston Square & Roselawn) 2. Anticipate $1.2M award to Alamo Community Group in Q3 at closing. 3. SAHT PFC applied for $342M in tax exempt Bonds in support of 7 potential LIHTC projects. Quarter 2 Staff Engagements January 10, 2023: Executive Director and one board member attended ULI San Antonio Real Estate Outlook & Trends Luncheon January 13, 2023: Staff and Board members attended the Greenline North Ribbon Cutting Ceremony January 16, 2023: Staff and Board members attended the Martin Luther King Day Parade March January 19, 2023: Discussion with IDEA Carver School on Friedrich Abatement & Demolition Status January 24, 2023: Lunch and Learn for staff and board members on Community Land Trusts January 27, 2023: Staff attended site visit of Esperanza Peace and Justice Center CLT units under renovation. January 28, 2023: SAHT attended SHIP Public Event at Tafolla Middle School including presenting two workshops on the Housing Trust activities. January 31, 2023: Executive Director and Board President met with Albert Carrisalez and Peggy Eighmy regarding need for foster care housing Executive Director met with Jackie Gorman, National Development Council regarding the SEED program February 9, 2023: Executive Director was interviewed by Invest San Antonio Magazine; invited to subsequent speaking event in May. Executive Director participated in Successfully Aging & Living San Antonio Housing Workgroup discussion. February 10, 2023: Staff met with THRU Project representatives to discuss housing needs for Foster Youth Executive Director met with David Steinwedell with Affordable Central Texas Capital Fund February 16, 2023: Executive Director and Mark Carmona met with Representative Liz Campos’s Policy staff regarding state level housing issues. February 21, 2023: Site Visit of Towne Twin Village to see construction efforts for SAHT Funded PSH units. February 24, 2023: Executive Director met with Ramiro Gonzalez to catch up on Westside activities. Sustainable and Universal Design Committee work session occurred. March 6, 2023: Staff and 3 Board Members attended Groundbreaking at Los Arcos March 8, 2023: Director of Development attended Community Meeting for Legacy Apartments March 16, 2023: Sr. Asset Manager completed Tax Credit Specialist Training (NCHM) focusing on IRS regulations and guidance, including the IRS’s Guide for Completing Form 8823 March 20, 2023: Executive Director met with SAMM regarding Permanent Supportive Housing opportunities. March 21, 2023: Executive Director attended Removing Barriers Subcommittee Meeting March 27-30, 2023: Operations Director and 6 Board Members attended SA to DC Chamber Event Quarter 2 Treasurer’s Report (thru March 31, 2023) Foundation As of March 31, 2023, the SA Housing Trust Foundation has earned $962,513 in revenues, approximately 67% of the annual projected revenue of $1.43M. The SA Housing Trust Foundation has expended $522,769 in operating funds or 31% of the $1.66M adopted annual budget. While we had lower than expected spending across most of the budget categories, the Foundation had most of the savings in payroll expenses. On January 2, 2023, we welcomed Jessica Kuehne, SAHT Director of Asset Management to the team. We anticipate brining on a second budget approved position in Quarter 3. Public Facility Corporation As of March 31, 2023, the SA Housing Trust PFC earned $3,427,218 in revenues, approximately 56% of the annual projected revenue of $6.16M. The SA Housing Trust PFC has spent $1,038,186 in operating funds or 42% of the $2.01M adopted annual budget. The bulk of the PFC expense is the 25% administrative fee to the SAHT Foundation. Also in Q1/Q2, the PFC has expended $59,400 in onsite security at the Friedrich. These funds will be reimbursed at the financial closing in FY 2024. The remaining expenses were anticipated asset management & compliance monitoring costs which provides oversight of our existing PFC portfolio. We anticipate the bulk of the compliance work will be completed during Q3/Q4. Finance Corporation As of March 31, 2023, the SA Housing Trust FC earned $31,980 in revenues, approximately 23% of the annual projected revenue of $136k. The SA Housing Trust FC has spent $20,145 in operating funds or 45% of the $45,530 adopted annual budget. The FC expense is the 25% administrative fee to the SAHT Foundation. We anticipate the need to revise our revenue forecast based on the retirement of bonds which impact the collected fee. We will make the adjustment in our 9+3 in July. The remaining expenses are associated with asset management & compliance monitoring work which will be completed during Q3/Q4. Attached FY 2023 Budget to Actual Analysis  SAN ANTONIO HOUSING TRUST FOUNDATION, INC. FY 2023 ‐ BUDGET TO ACTUAL ANALYSIS October 1, 2022 ‐ March 31, 2023 Annual Actual % of Budget Budget* OPERATING REVENUES Administrative Fee Income SAHT Finance Corporation $ 19,102 $ 34,180 55.89% SAHT Public Facility Corporation 917,603 1,385,584 66.23% Total Administrative Fee Income 936,705 1,419,764 Interest Income ‐ Loans 25,808 10,000 258.08% TOTAL OPERATING REVENUES $ 962,513 $ 1,429,764 67.32% OPERATING EXPENSES Advertising and Marketing $ 3,231 $ 5,000 64.62% Bank Fees & Service Charges 39 500 7.80% Insurance Expense Insurance ‐ Business Owner's 2,316 3,940 Insurance ‐ Crime 673 1,357 Insurance ‐ Directors & Officers 4,785 9,727 Insurance ‐ Workers Comp 416 901 Total Insurance Expense 8,190 15,925 51.43% Maintenance & Repairs General Maintenance & Repairs ‐ 5,000 Grounds Maintenance & Mowing 1,500 5,638 Moving Expenses ‐ 7,500 Office Cleaning 2,450 1,925 Pest Control ‐ 477 Total Maintenance & Repairs 3,950 20,540 19.23% Meals & Events 1,775 4,500 39.44% Office Expenses Equipment Purchases 3,611 7,000 Furniture Purchases ‐ 20,000 Mileage, Parking & Tolls 358 ‐ Office Supplies 2,079 8,000 Printing & Photocopying ‐ 1,000 Security & Monitoring 543 656 Shipping & Postage 339 750 Shredding Services ‐ 100 Total Office Expenses 6,930 37,506 18.48%  SAN ANTONIO HOUSING TRUST FOUNDATION, INC. FY 2023 ‐ BUDGET TO ACTUAL ANALYSIS October 1, 2022 ‐ March 31, 2023 Annual Actual % of Budget Budget* OPERATING EXPENSES (Continued) Payroll Expenses Allowance ‐ Auto 10,750 24,000 Allowance ‐ Telephone 1,075 2,400 Insurance ‐ Dental 2,500 ‐ Insurance ‐ Health 30,150 75,601 Insurance ‐ Life 147 15,000 Payroll Tax Expense 23,875 59,019 Retirement Plan Expense 20,783 83,969 Salaries & Wages 268,554 709,739 Total Payroll Expense 357,834 969,728 36.90% Professional Services Accounting & CFO Services 65,422 130,800 Audit Services 2,625 40,000 Legal Services 13,775 72,000 Marketing & Public Relations Services 11,037 44,000 Strategic Planning Services 7,500 7,500 Web Hosting 750 3,575 Other Professional Services 8,025 50,000 Total Professional Services 109,134 347,875 31.37% Rent Expense Equipment Rent 2,460 5,084 Facilities Rent 474 83,550 Total Rent Expense 2,934 88,634 3.31% Subscriptions Subscriptions ‐ Memberships & Fees 1,910 4,717 Subscriptions ‐ Software Licenses 6,096 134,350 Total Subscriptions 8,006 139,067 5.76% Telephone & Internet 1,526 3,500 43.60% Travel & Training 16,306 25,000 65.22% Utilities 2,914 4,600 63.35% TOTAL OPERATING EXPENSES $ 522,769 $ 1,662,375 31.45% OPERATING INCOME (LOSS) $ 439,743 $ (232,611)  SAN ANTONIO HOUSING TRUST FOUNDATION, INC. FY 2023 ‐ BUDGET TO ACTUAL ANALYSIS October 1, 2022 ‐ March 31, 2023 Annual Actual % of Budget Budget* NONOPERATING REVENUES (EXPENSES) Intergovernmental Revenues Asset Management Services $ 52,816 $ 248,000 21.30% Compliance Monitoring Services 9,680 155,000 6.25% Security Services 59,400 ‐ 0.00% TOTAL INTERGOVERNMENTAL REVENUES 121,896 403,000 Intergovernmental Expenses Asset Management Services (52,816) (248,000) 21.30% Compliance Monitoring Services (9,680) (155,000) 6.25% Security Services (59,400) ‐ 0.00% TOTAL INTERGOVERNMENTAL EXPENSES (121,896) (403,000) Interest Income ‐ Banks 66,492 ‐ 0.00% Net Gain from Partnership 3,313 ‐ 0.00% Interest Expense (261) ‐ 0.00% Funding ‐ Operating Reserves ‐ 232,611 0.00% TOTAL NONOPERATING REVENUES (EXPENSES) 69,805 232,611 INCREASE (DECREASE) IN NET POSITION $ 509,548 $ ‐ REQUIRED OPERATING RESERVE FY 2023 Expenditures $ 1,662,375 Add: Funding ‐ Operating Reserves ‐ Adjusted FY 2023 Expenditures $ 1,662,375 Adopted Operating Expenditure Budget $ 1,662,375 REQUIRED ‐ 50% of Adopted Expenditure Budget $ 831,188 *Reflects budget amendment #2023‐001.  SAN ANTONIO HOUSING TRUST PUBLIC FACILITY CORP FY 2023 ‐ BUDGET TO ACTUAL ANALYSIS October 1, 2022 ‐ March 31, 2023 Annual Actual % of Budget Budget OPERATING REVENUES Fee Income Administrative Fee 61,025 $ 75,000 Application Fees 15,000 ‐ Asset Management Fee ‐ 150,000 Cash Flow Fee ‐ 421,559 Deferred Developer Fee 376,489 616,817 Developer Fee 2,181,849 4,496,070 Incentive Management Fee 9,765 45,539 Origination Fee 250,000 ‐ Partnership Management Fee 276,010 22,500 Sale Proceeds 212,020 ‐ Supervisory Management Fee ‐ 18,233 Total Fee Income 3,382,158 5,845,718 57.86% Distribution Income from Cash Flow 45,060 316,815 14.22% TOTAL OPERATING REVENUES $ 3,427,218 $ 6,162,532 55.61% OPERATING EXPENSES Administrative Fee $ 917,603 $ 1,540,633 59.56% Professional Services Asset Management Services 51,503 310,000 Compliance Monitoring Services 9,680 163,600 Real Estate Services ‐ 461,000 Security Services 59,400 ‐ Total Professional Services 120,583 934,600 12.90% TOTAL OPERATING EXPENSES $ 1,038,186 $ 2,475,233 41.94% OPERATING INCOME (LOSS) $ 2,389,032 $ 3,687,299 NONOPERATING REVENUES (EXPENSES) Interest Income ‐ Banks 243,195 200 121597.27% TOTAL NONOPERATING REVENUES (EXPENSES) 243,195 200 INCREASE (DECREASE) IN NET POSITION $ 2,632,226 $ 3,687,499  SAN ANTONIO HOUSING TRUST FINANCE CORP FY 2023 ‐ BUDGET TO ACTUAL ANALYSIS October 1 ‐ March 31, 2023 Annual Actual % of Budget Budget OPERATING REVENUES Fee Income Annual Issuer Fee 31,980 $ 136,720 TOTAL OPERATING REVENUES $ 31,980 $ 136,720 23.39% OPERATING EXPENSES Administrative Fee $ 19,102 $ 34,180 55.89% Professional Services Asset Management Services 1,313 7,750 Compliance Monitoring Services ‐ 3,600 Total Professional Services 1,313 11,350 11.57% TOTAL OPERATING EXPENSES $ 20,415 $ 45,530 44.84% OPERATING INCOME (LOSS) $ 11,565 $ 91,190 NONOPERATING REVENUES (EXPENSES) Interest Income ‐ Banks 44,427 90 49363.29% TOTAL NONOPERATING REVENUES (EXPENSES) 44,427 90 INCREASE (DECREASE) IN NET POSITION $ 55,992 $ 91,280