19 CHH Board Meeting March - Capitol Hill Housing...and people are moving in. LOI’s have been signed for all three commercial spaces and the grand opening celebration is scheduled

CHH Board Meeting

March 2019

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SECTION 1:

Meeting Keys

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March 2019 Keys Page 1 of 2

March 2019 Capitol Hill Housing Board Meeting Keys and Agenda

Reminder: Dinner begins at 5:00. The meeting starts promptly at 5:30 PM. We will enter into executive session as needed pursuant to RCW 42.30.110. Introductions: Board, staff and guests make brief introductions. Consent Agenda, Disclosures and Recusals: The consent agenda will be moved for adoption. Board members will review items on the agenda and make any necessary disclosures and recusals. Public Comment: The Chair will ask any members of the public present for comment not to exceed 5 minutes per individual or 15 minutes combined.

Presentation and Discussion Liberty Bank Building: The Board will be updated on the Liberty Bank Building. The building is opened, and people are moving in. LOI’s have been signed for all three commercial spaces and the grand opening celebration is scheduled for March 23rd. Our preliminary data show that the affirmative marketing effort worked very well and the building is staffed for ongoing operations. Because the lease-up has gone a little slower than expected, there is a modest financial impact. Additionally, the cost of the commercial units balanced against the lower than market rents that we are charging is affecting our development budget on the commercial side more than we had anticipated. Several of our key team members will present on all these topics.

o What is the long-term financial impact and how does this impact our view of projects like this moving forward?

o How do we learn from the successes and challenges of this project? o What is our current standing with our community partners?

Systems Change, Strategic Planning and 2019 Boards Retreat: Over the past several months, we have faced and have been addressing challenges in property management and organization-wide systems, communications and decision-making. These challenges and our response to them have been reported to and discussed in great detail with the Board. We have reorganized leadership decision-making, eliminated key positions, redistributed responsibilities and created new reporting procedures among others. We have embarked on an over-haul of the Property Management department and have been analyzing organizational culture. As we consider systems changes, how do we incorporate long-term strategic planning? Chris will open this discussion with a view to creating a planning and system change process culminating in the annual Boards retreat in September or October of this year.

Finance and Asset Management

Financial Summary: The Finance and Asset Management Committee presents its regular report and dashboard through January 2019 as well as December 2018, since that item was postponed for approval at the shortened February Board meeting. 2019 Capital Projects Budget: Brad will present the final 2019 Capital Projects Budget for consideration and adoption by the Board. This budget has been reviewed by the FAM Committee who recommend its adoption.

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March 2019 Keys Page 2 of 2

Executive Committee and Governance

Branding and Foundation Update: Michael and his team will update the Board on the activities of the Foundation as well as the rebrand process.

Pipeline Review and Project Introductions Introduction to YouthCare Resolutions: Jeremy will present an overview of the upcoming YouthCare project resolutions. Review of Pipeline Projects: Jeremy will give an update on the property development pipeline.

CEO Review Might be taken in Executive Session per RCW 42.30.110(g), To evaluate the qualifications of an applicant for public employment or to review the performance of a public employee. Board Packet Sections 1. Meeting Keys, p. 5-6 2. Board Agenda, p. 9 3. Board Candidate Bio: George Staggers, p. 13 4. Liberty Bank Building Ribbon Cutting Celebration Invitation, p. 17 5. March 2019 Finance Report, January Statements and Asset Management Report, p. 21-28 6. February 2019 Finance Report, December 2018 Statements and Asset Management Report, p. 31-39 7. 2019 Capital Projects Budget, p. 43-44 8. Consent Agenda and Attachments, p. 47-70

a. Contracts and Expenditures, p. 47 b. February 2019 Board Minutes Draft, p. 49-50 c. Tenant Communications Log, p. 51 d. Property Management Report and Minutes, p. 52-55 e. Property Management Dashboard, p. 56-57 f. Maintenance Service Personnel (MSP) Capital Projects Report, p. 58-59 g. Fundraising & External Relations Memo, p. 60-64 h. Property Development Report and Minutes, p. 65 i. Community Development Committee Report and Minutes, p. 66-67 j. Executive Committee Report and Minutes, p. 68-69 k. Joint Board Development Committee Report and Minutes, p. 70

Upcoming Meetings and Events

Please let Chris or Sarah know if you’d like additional information on any event or meeting. March 18 Joint Board Book Club – Date #1 March 23 LBB Ribbon cutting event March 25 CHH Executive Committee March 26 Joint Board Book Club – Date #2 April 8 CHH Board Meeting April 23 CHHF Board Meeting April 29 CHH Executive Committee

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SECTION 2:

Board Agenda

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CAPITOL HILL HOUSING BOARD March 11, 2019

5:30 PM – 7:30 PM Regular Meeting 12th Ave Arts Pike-Pine Room

1620 12th Avenue, Seattle

AGENDA

5:30 Call to Order (Schwartz) – 5 min total

1. Introductions, welcome Sec. 3, Page 13 2. Approve consent agenda Sec. 8, Page 47 3. Disclosures and recusals 4. Board Development

5:35 Public Comment (Not to exceed 5 minutes per individual or 15 for combined speakers) 5:40 Presentation and Discussion – 35 min total

1. Liberty Bank Building – 25 mins Presentation a. Residential lease-up (lease-up numbers, demographics, financial

impact) (House, Hagen) b. Commercial lease-up (Persons, Fleming) c. Grand opening (K. Dhatt) Sec. 4, Page 17 d. On-going operations (Walsh)

2. Systems Change, Strategic Planning and 2019 Boards Retreat (Persons) – 10 mins Presentation 6:15 Finance and Asset Management – 20 min total

1. Finance Report (Gibson) – 10 mins a. Financial summary, cash management report:

January 2019 Financial Statements Sec. 5, Page 21 b. December 2018 Financial Statements Sec. 6, Page 31

2. 2019 Capital Projects Budget (Lange) – 10 mins Sec. 7, Page 43 6:35 Executive Committee and Governance (Seiwerath, K. Dhatt, Okrent, Wong) – 10 min total

1. Branding and Foundation Update 6:45 Pipeline Review and Project Introductions (Wilkening) – 15 min total

1. Introduction to YouthCare Resolutions – 10 mins Presentation 2. Pipeline Review – 5 mins Might be taken in Executive Session per RCW 42.30.110(b), to consider

the acquisition of real estate when public knowledge of such consideration would cause a likelihood of increased price.

7:00 CEO Review (Schwartz) – 30 min total Handout

Will be taken in Executive Session per RCW 42.30.110(g), To evaluate the qualifications of an applicant for public employment or to review the performance of a public employee.

7:30 Adjourn (Schwartz)

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SECTION 3:

Board Candidate Bio:

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CHH Board Member Candidate – March 2019

George M. Staggers - CEO - Central Area Development Association

George plays a key role in navigating the direction of CADA. He has

been the Chief Executive Officer of CADA since its inception in

1994. George’s responsibilities include ensuring that CADA meets

the objectives of its mission and overall organizational

management. George holds a bachelor’s degree from Central

Washington University and has 20 years’ work experience in the

financial industry. George grew up within blocks of the CADA

office. George is an active board member for Community Capital

Development, First Place School and Seattle Neighborhood Group.

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SECTION 4:

Liberty Bank Building

Ribbon Cutting

Celebration Invitation

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SECTION 5:

March 2019

Finance Report,

January Statements and

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MARCH 2019 FINANCE & ASSET MANAGEMENT BOARD REPORT AND MINUTES

Finance & Asset Management Committee Members: Drew Porter, Frank Alvarado, Chasten Fulbright, Jill

Cronauer

Staff Liaisons to the Board: Brad Lange, Greg Gibson (BOLD indicates those members in attendance)

Date, time and location of meeting: Tuesday March 5, 2019 4-5:00 pm Malden conference room

Financial Position Summary: During January, unrestricted cash increased by approximately $225K, primarily

resulting from two transactions; $100K from the second half of the Q4 Foundation distribution and a $100K

transfer to operating cash from board designated operation reserves. The remaining fluctuations on the balance

sheet were the result of routine monthly transactions and continued predevelopment spending. The unaudited

operating statement for January 2019 shows an operating deficit that is $12K greater than the budgeted

operating deficit for January of $262,376. This deficit is the result of several small variances, none of which are of

significant concern through one month; however, we will continue to monitor as the year progresses.

Financial Review: The committee reviewed the monthly financial reports and the monthly financial ratio analysis.

The rolling twelve-month cash forecast was also reviewed. Comments and Analysis regarding the January Balance

Sheet and Operating Statement are included as annotations in the attached statements. As part of the cash flow

review, the committee also reviewed anticipated predevelopment spending projections.

The committee reviewed the Property Management dashboard report

Vacancy loss: The monthly portfolio vacancy rate was 3.8% with a rolling 12-month vacancy percentage of 3.4%.

Staff provided an update on the ongoing initiatives that CHH is working through to address the rising vacancy issues.

Project Updates: Staff provide brief updates on the following projects currently underway

Yesler Terrace predevelopment financing

2019 CHH and Limited Partnership Audits

Transition of banking services to electronic payment platform

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Capitol Hill Housing

Blended Balance Sheet

01.31.2019

unaudited

12.31.2018

unaudited

Change from

prior month

12.31.2017

audited*

12.31.2016

audited*

Assets

Unrestricted Cash 2,245,694 2,019,689 226,005 1 2,037,757 1,549,568

Accounts Receivable 1,024,408 1,058,363 (33,955) 811,476 605,408

Prepaids & Other Current Assets 327,899 358,771 (30,872) 341,351 145,836

Contributions/Grants Receivable 2,197 149,540 (147,343) 2 61,282 71,138

Due from Affiliates 5,184,998 5,059,335 125,663 3 5,193,026 5,591,990

Board Designated Operating Reserve 1,000,000 1,000,000 0 1,000,000 1,000,000

Board Designated Opportunity Reserve 147,449 244,931 (97,482) 4 567,083 651,507

Restricted Cash 6,410,620 6,492,351 (81,731) 5 6,135,901 5,605,330

Notes Receivable from Affiliates 15,313,542 15,313,542 0 15,322,710 15,411,829

Land 22,794,157 22,794,157 0 20,394,157 14,643,757

Buildings, Improvements & Equipment 75,107,202 75,038,480 68,722 6 74,146,986 72,923,292

Accumulated Depreciation (41,724,098) (41,538,356) (185,742) 7 (39,304,834) (37,093,003)

Lease Receivable 792,137 792,137 0 817,531 890,908

Investment in LPs/LLCs 1,512,376 1,512,376 0 1,527,084 1,534,145

Other Assets (2,636) (5) (2,631) (5) 0

Total Assets 90,135,945 90,295,311 (159,366) 89,051,505 83,531,705

Liabilities

Notes Payable 61,103,183 61,205,570 (102,387) 8 58,479,561 52,278,219

Accrued Interest Payable 4,415,596 4,415,596 0 4,385,715 4,406,834

Accounts Payable & Accrued Liabilities 5,035,775 4,798,516 237,259 9 4,956,384 4,859,505

Tenant Security Deposit Liability 541,409 547,061 (5,652) 579,612 562,478

Total Liabilities 71,095,963 70,966,743 129,220 68,401,272 62,107,036

Net Position 19,039,982 19,328,568 (288,586) 20,650,233 21,424,669

Total Liabilities and Net Assets 90,135,945 90,295,311 (159,366) 89,051,505 83,531,705

* Internal presentation, certain amounts netted for audit presentation

Significant balance sheet changes from prior month

1)

2)

3)

4)

5) $100K drawn down from Seneca replacement reserves was used for envelope project

6)

7)

8)

9)

Increase in cash is a function of the following transactions:

Received $100K from foundation for Q.4 distribution, plus transferred $100K from the LGIP board designated reserve. $35K was also

received for Q3 & Q4 OIS grant reimbursements.

Cash receipt offset by the following: $31K distribution to ACLT for Enterprise Grant fiscal agent costs were paid out (reimbursement

anticipated in March). $7.5K paid for rebranding consultant.

Foundation Q.3 & 4 grant, OIS grant, and PPG Q.3 were all received in January 2019. These amounts were all accrued at year-end.

Change due to timing fluctuation of due to/from affiliates balances as well as additional predevelopment expense incurred on the

Bonanza and CHP Portfolio 1 resyndication projects.

Routine fluctuation in accrued payable balances based on timing of payroll and accounts payable check run relative to month-end as

well as fluctuations in intercompany "Due to CHH" balance that results from the recording of additional predevelopment expenses for

those projects still included as blended component units.

Transferred $100K from LGIP for general operations due to continued slide of Bonanza closing

Capitalization of additional predevelopment expenditures, primarily for the Bonanza and CH Portfolio 1 syndication/resyndication

projects. Routine monthly depreciation expenseRoutine decrease resulting from monthly mortgage payments

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Capitol Hill Housing Improvement Program

Statement of Revenues and Expenditures - Unaudited

From 1/1/2019 Through 1/31/2019

Year to Date

Actual

Year to Date

Budget

Year to Date

Budget

Variance Variance Pct Total Budget

Budget

Remaining

Revenue

Tenant Rent

Residential tenant revenue 849,871 856,784 (6,913) -0.81% 10,481,789 9,631,918

Commercial rent revenue, net 129,527 135,224 (5,697) -4.21% 1,700,206 1,570,679

Triple net revenue 3,090 0 3,090 0.00% 277,800 274,710

Parking, laundry and other 15,751 13,530 2,221 16.42% 167,575 151,824

Res vacancy and concessions (25,913) (22,824) (3,089) 13.53% (298,020) (272,107)

Total Tenant Rent 972,326 982,714 (10,388) -1.06% 12,329,350 11,357,024

Other Operating Revenue 0 0 0

Accounting & Compliance fees 57,480 56,952 528 0.93% 723,188 665,708

Developer Fees 0 0 0 0.00% 1,474,755 1,474,755

Partnership Management Fees 15,849 14,227 1,622 11.40% 342,717 326,868

Property Management Fees 133,488 132,808 680 0.51% 1,738,291 1,604,803

Total Other Operating Revenue 206,817 203,987 2,830 1.39% 4,278,951 4,072,134

Other Revenue 0 0 0

Grants & Donations 5,446 0 5,446 0.00% 1,093,164 1,087,718

Interest Income 2,530 2,000 530 26.50% 24,000 21,470

Other Income (non-operating) 2,709 2,333 376 16.12% 61,034 58,325

Total Other Revenue 10,685 4,333 6,352 77.12% 1,178,199 1,167,514

Total Revenue 1,189,828 1,191,034 (1,206) -0.10% 17,786,499 16,596,671

Expenses 0 0 0

Accounting, Audit & Legal 62,613 54,706 (7,907) 1 -14.45% 488,894 426,281

Administration 35,060 37,194 2,134 5.74% 485,761 450,701

Bad Debt 2,940 3,970 1,030 25.94% 46,950 44,010

Board Expense 111 600 489 81.50% 10,200 10,089

CHH Occupancy Expense 23,125 23,621 496 2.10% 364,913 341,788

Compliance, Taxes & License 15,316 12,329 (2,987) -24.23% 257,614 242,298

Consulting 19,331 15,305 (4,026) -26.31% 252,640 233,309

Debt Service 256,671 247,870 (8,801) 2 -3.55% 2,632,638 2,375,967

Insurance 24,230 25,238 1,008 3.99% 319,293 295,063

Leasing/Compliance Expense 11,392 11,291 (101) -0.89% 142,743 131,351

Miscellaneous Financial Expense 563 563 0 0.00% 11,756 11,193

Other Operating Expense 5,446 2,083 (3,363) -161.44% 27,475 22,029

Partnership Mgmt Fee Expense 12,389 10,767 (1,622) -15.06% 182,639 170,250

Payroll, Taxes and Benefits 564,082 574,746 10,664 3 1.86% 6,906,276 6,342,194

Preventive Maintenance 39,596 37,093 (2,503) -6.75% 406,568 366,972

Property Mgmt Fee Expense 95,329 94,303 (1,026) -1.09% 1,110,573 1,015,244

Repair and Maintenance 103,198 111,535 8,337 4 7.47% 1,287,608 1,184,410

Resident activities 483 1,570 1,087 69.24% 69,483 69,000

Technology 8,177 10,551 2,374 22.50% 204,884 196,707

Utilities 131,271 125,969 (5,302) 5 -4.21% 1,511,428 1,380,157

Total Expenses 1,411,323 1,401,304 (10,019) (0) 16,720,335 15,309,013

0 0 0 Operating Surplus (Deficit) B4 Reserves (221,495) (210,270) (11,225) 5.34% 1,066,164

Reserve Contributions 0 0 0

Replacement Reserve (44,252) (43,840) (412) 0.94% (478,154) (433,902)

Operating Reserve (4,049) (4,049) 0 0.00% (45,084) (41,035)

Other Reserve (4,217) (4,217) 0 0.00% (50,600) (46,383)

Total Reserve Contributions (52,518) (52,106) (412) 0.79% (573,838) (521,320)

0 0 0 Operating Surplus (Deficit) (274,013) (262,376) (11,637) 4.44% 492,326

0 0 0 Other Income (non-operating) 0 0 0.00% 0

0 0 0 Income/Loss (274,013) (262,376) (11,637) 4.44% 492,326

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1)

2)

3)

4)

5)

Variance Discussion (Greater than $5K and 5%)

Timing of audit invoices fluctuates during Q1. Annual variance is expected to be minimal given fixed fee contract.

Ground lease expense associated for 12AA development of $10K. Budget for entity was not imported, net impact to overall budget is

minimal as quarterly interest income offsets the lease expense.

Variance due to vacant Associate Director of Real Estate and Vice President of Property Operations, both of which were budgeted for

a full year and are yet to be hired.

Repair and maintenance projects under budget due to use of general building reserves to pay for significant repairs associated with

the Union James REAC and the ongoing repairs at Joe Black.

Water, sewer and garbage are each over budget by approximately $2K. We will continue to monitor these amounts to determine if

this represents a billing/timing issue, monthly spike, or a permanent variance resulting from errors in budgeting.

Date: 3/5/2019, 12:59 PM Page: 2

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Asset Management Dashboard

Year to Date at January 31, 2019

12-Month

Rolling Avg.(2)

Building

Vacant

Units

Vacancy

%

Total

Units Actual

Budget

Var % Actual

Budget

Var % Actual

Budget

Var %

Make

Ready

Total

Turn Time Jan. 2019

12 MO

Rolling

2018

Vacancy

Byron Wetmore 12 991 1% 472 34% 45 -79% 0.8% 0.1% 0.0%

Elizabeth James 60 882 1% 858 -38% (190) -594% 27 79 1.7% 2.5% 2.5%

Four Twelve 12 1,089 -18% 931 3% (190) -595% 46 153 0.0% 5.1% 5.0%

Hazel Plaza 1 6.3% 16 2,144 -5% 670 19% 716 6% 0 61 3.3% 2.1% 1.9%

Joe Black Apartments 3 12.5% 24 1,019 -14% 682 24% 197 31% 128 227 14.0% 13.8% 12.7%

Mary Ruth Manor 20 2,109 0% 971 -7% 356 -18% 21 93 0.0% 4.2% 4.5%

Union James 2 8.3% 24 1,646 7% 1,222 -35% 241 -5% 61 124 0.0% 4.5% 5.8%

Asia Total 6 3.6% 168 1,300 -3% 858 9% 95 -54% 64 150 2.7% 4.6% 4.6%Eighteenth Avenue 9 1,148 1% 842 -3% (106) -11% 0 0 0.0% 5.0% 6.0%

El Nor 1 1.8% 55 903 2% 734 -6% (13) -294% 20 97 1.8% 2.0% 2.1%

Helen V 2 5.3% 38 1,525 -1% 644 29% 585 72% 30 71 5.5% 4.5% 4.4%

Holden Vista 16 1,305 6% 953 2% (684) -403% 0 0 0.0% 1.9% 2.4%

Holiday 30 956 -6% 594 12% 1 103% 0 0 0.2% 0.2% 0.4%

Park Hill 1 3.3% 30 1,269 -1% 734 13% 358 32% 14 91 4.3% 2.5% 2.1%

Ponderosa 3 13.0% 23 695 -11% 858 -24% (220) -723% 58 87 13.3% 5.0% 3.9%

Silvian 32 1,252 -1% 777 32% 163 190% 33 94 0.0% 4.1% 4.2%

Unity Village 2 6.7% 30 837 -5% 883 -4% (83) -6454% 11 228 6.9% 5.5% 5.4%

Lynn Total 9 3.4% 263 1,090 -2% 755 -9% 69 -3% 31 95 3.5% 3.3% 3.3%Berneva 12 824 0% 800 -13% (69) -335% 0 0 0.0% 0.1% 0.8%

Brewster 3 8.6% 35 747 -7% 497 8% 187 -6% 0 152 8.6% 4.3% 3.8%

Broadway Crossing 2 4.5% 44 749 -17% 1,070 -30% (461) -687% 15 65 15.8% 4.5% 3.2%

Haines AAA 30 988 2% 632 15% 126 1199% 6 161 0.0% 5.1% 3.8%

Jefferson Housing 40 1,173 2% 865 -14% 192 863% 28 90 0.0% 3.7% 4.2%

Oleta 6 17.6% 34 691 -17% 653 -10% (218) -863% 29 120 17.8% 9.8% 8.4%

Pantages 2 4.1% 49 847 -3% 826 -2% (216) -144% 43 123 4.9% 3.7% 3.3%

Twelfth Avenue Arts 2 2.3% 88 1,006 -1% 478 5% 159 8% 17 40 2.3% 1.7% 1.7%

Nelda Total 15 4.5% 332 901 -5% 700 5% (21) -164% 23 88 5.7% 3.7% 3.4%Boylston Howell 1 3.3% 30 912 -7% 800 -9% 84 -61% 13 64 5.8% 1.8% 1.3%

Bremer 4 8.2% 49 750 -6% 376 30% 185 134% 30 139 8.0% 6.4% 5.9%

Centennial 1 3.3% 30 1,006 -4% 487 15% 170 31% 13 77 3.5% 6.0% 6.3%

Devonshire 1 1.6% 62 825 1% 630 -6% (89) -205% 13 65 1.8% 2.8% 2.7%

Fleming 1 2.8% 36 801 -1% 659 -17% (229) -526% 17 83 5.8% 3.8% 4.0%

Fremont Solstice 1 5.6% 18 925 -5% 528 27% 84 388% 16 64 5.1% 2.8% 2.4%

Gilman Court 25 1,073 -6% 506 51% 513 642% 0 0 0.0% 0.0% 0.0%

John Carney 1 3.7% 27 720 -4% 464 19% 128 175% 18 80 3.0% 1.4% 1.1%

Larned 33 873 -7% 557 10% 261 -2% 23 65 4.0% 2.6% 2.3%

Melrose 1 3.3% 30 778 -2% 615 -15% 57 -62% 12 75 2.5% 3.3% 3.5%

Villa 62 1,037 -3% 711 -9% 3 -97% 12 59 0.0% 0.9% 1.0%

Skye Total 11 2.7% 402 880 -4% 586 -7% 78 -21% 18 82 3.5% 3.0% 3.0%Broadway 5 1,185 3% 681 17% 269 178% 0.0% 0.0% 0.0%

Burke Gilman Gardens 15 1,143 1% 582 23% (1,015) -404% 13 151 0.9% 5.7% 5.6%

Casa di Cinque 3 1,549 #DIV/0! 993 #DIV/0! 763 #DIV/0! 0 0 0.0% 0.0% 0.0%

Four Ten 6 735 -18% 672 1% (76) -194% 15 152 14.7% 6.9% 5.6%

Fredonia 12 2,143 -13% 979 10% 639 -26% 8 48 0.0% 1.7% 1.7%

Harrison at 15th 19 1,616 -18% 1,022 5% 27 -88% 0.0% 0.0% 0.0%

Lincoln Court 1 3.4% 29 853 -1% 609 -11% (138) -817% 36 120 3.5% 2.3% 2.2%

Maxwell 4 1,039 1% 749 2% 164 23% 0.0% 0.0% 0.0%

Miller Park 12 1,081 -1% 791 11% 62 393% 13 39 0.3% 2.6% 2.6%

Seneca 32 935 0% 902 9% (129) 40% 67 167 0.8% 1.4% 1.3%

Squire Park Plaza 3 5.0% 60 1,668 1% 623 -3% 346 -1% 13 95 6.1% 6.8% 3.3%

Valencia Total 4 2.0% 197 1,322 -2% 745 -3% 52 -72% 18 97 3.2% 2.5% 2.4%

Portfolio Total 45 3.3% 1362 1,041 -3% 703 -2% 50 -51% 26 93 3.8% 3.4% 3.3%

1) After debt payments and reserve payments

2) Portfolio Manager averages are averages across all unit turns within portfolio and not averages across buildings

Physical Vacancy

(at month end) Economic VacancyOp Exp Per Unit Cash Flow Per Unit(1)

Op Rev Per Unit

M:\Asset Management\AM - General Asset Management\Reporting\January-2019-AM dashboard.xlsx

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Bank CHH Blended Component Unit Type Balance

Chase Larned Reserves 119,601

Chase 412 Reserves 97,086 Total Chase 216,686

KeyBank Capitol Hill Housing Security Deposit 272,992

KeyBank Capitol Hill Housing - SoundFamilies Restricted Savings 21,805

KeyBank Hazel Plaza Reserves 199,427

KeyBank Hazel Plaza Security Deposit 3,494

KeyBank Larned Security Deposit 22,102

KeyBank Byron Wetmore Reserves 54,680

KeyBank Byron Wetmore Security Deposit 9,318

Key Bank 412 Security Deposit 2,811

KeyBank Holden Vista Reserves 57,189

KeyBank Holden Vista Security Deposit 3,640

KeyBank Mary Ruth Manor Reserves 278,873

KeyBank Mary Ruth Manor Security Deposit 6,037

KeyBank EJSH Security Deposit 11,491

KeyBank Fleming Apts LP Security Deposit 22,587

KeyBank Gilman Court LP Reserves 116,508

KeyBank Gilman Court LP Security Deposit 20,335

KeyBank Villa Apts LP Reserves 190,992

KeyBank Villa Apts LP Security Deposit 44,282

KeyBank El Nor LP Security Deposit 9,313

KeyBank El Nor LP Reserve 574,841

KeyBank El Nor LP Capital Reserves 184,825

KeyBank 18th Ave Apartments Security Deposit 2,010

KeyBank Harrison Security Deposit 20,071 KeyBank Ponderosa Reserves 484,087

KeyBank Ponderosa Security Deposit 2,834

KeyBank 12th Avenue Arts Master Tenant LLC Security Deposit 49,077

KeyBank 12th Avenue Arts Master Tenant LLC Reserves 12,990

Key Bank Union James Security Deposit 5,964

Key Bank Union James Reserves 71,760

Key Bank Lake City Security Deposit 6,545

Total KeyBank 2,762,881

Banner Berneva Reserves 13,163

Banner Seneca Reserves 141,024

Banner Seneca Security Deposit 20,197

Total Banner 174,384

LGIP Capitol Hill Housing Reserves 2,708,380

Total LGIP 2,708,380

Oppenheimer EJSH Escrow 22,662

Oppenheimer EJSH Reserves 122,251

Total Oppenheimer 144,913

Chase Harrison Reserves 164,743

Total Chase 164,743

US Bank 18th Ave Apartments Reserves 151,204

Total USBank 151,204

BofA Fleming Apts LP Reserves 87,428

Total BofA 87,428

Total Restricted - CHH Blended Components 6,410,620

LGIP Capitol Hill Housing Board Designated Reserves 1,147,449

Total Designated 1,147,449

UnionBank Capitol Hill Housing EQII (2,111)

Total Union Bank (2,111)

KeyBank Capitol Hill Housing EQII 44,997

Total KeyBank 44,997

HPN Capitol Hill Housing HPN 41,092

Total HPN 41,092

KeyBank Capitol Hill Housing Payroll -

KeyBank Capitol Hill Housing Operating Checking 291,197

KeyBank Capitol Hill Dev. Assoc Operating Checking 1,265

KeyBank Capitol Hill Real Estate Mgmt Services Operating Checking 34,235

KeyBank Cash-Restricted Operating Checking 148,950

KeyBank Hazel Plaza Operating Checking 196,751

KeyBank Larned Operating Checking 195,573

KeyBank Byron Wetmore Operating Checking 26,514

KeyBank 412 Operating Checking 40,221

KeyBank Holden Vista Operating Checking 55,370

KeyBank Mary Ruth Manor Operating Checking 63,672

KeyBank EJSH Operating Checking 30,003

KeyBank Fleming Apts LP Operating Checking 29,693

KeyBank Gilman Court LP Operating Checking 58,065

KeyBank Villa Apts LP Operating Checking 131,318

KeyBank El Nor LP Operating Checking 159,882

KeyBank 18th Ave Apartments Operating Checking 10,278

KeyBank Harrison Operating Checking 108,696

KeyBank Ponderosa Operating Checking 25,140

KeyBank 12th Ave Arts Development Operating Checking 94,955

KeyBank 12AA Master Tenant LLC Operating Checking 99,372

KeyBank Union James Operating Checking 74,276

KeyBank Lake City Operating Checking 13,289

KeyBank Africa Town(Mid-town) Operating Checking 14,292


CHH

CASH IN BANK

FOR THE MONTH ENDING: Jan 2019

3/2/2019 12:26 PM M:\Finance & Accounting\@Secured\Board reports\2019\1.Jan\ Jan19 Cash report.xlsx Jan19 Page 1 of 2Page 26 of 70

CHH

CASH IN BANK

FOR THE MONTH ENDING: Jan 2019

Cash Various Petty Cash - CHHIP 100

Total Petty Cash 100

Banner Berneva Operating Checking 14,182

Banner Seneca Operating Checking 244,428


Total Unrestricted - CHH Blended Components 2,245,694

Total All Cash - CHH Blended Components 9,803,763

Bank Discrete Component Unit Type Balance

Chase Oleta Reserves 135,964

Chase Woodland Park Ave LLC Reserves 139,938

Chase AAA Security Deposit 6,025

Chase AAA Reserves 138,420

Total Chase 420,347

KeyBank Broadway & Pine Reserves 285,436

KeyBank Broadway & Pine Security Deposit 22,513

KeyBank Helen V Apts LLC Reserves 301,910

KeyBank Helen V Apts LLC Security Deposit 8,262

KeyBank Holiday Apts Security Deposit 22,315

KeyBank Jefferson & 12th Reserves 303,712

KeyBank Jefferson & 12th Security Deposit 36,187

KeyBank Oleta Security Deposit 21,253

KeyBank Pantages Apts LLC Security Deposit 27,282

KeyBank Silvian Security Deposit 6,936

KeyBank SOPI / Unity Village Reserves 207,191

KeyBank SOPI / Unity Village Security Deposit 15,856

KeyBank Woodland Park Ave LLC Security Deposit 10,630

KeyBank 12th Avenue Arts Housing Security Deposit 72,551

KeyBank 12th Avenue Arts Housing Reserves 680,970

KeyBank Union & 24th Construction Residential Construction (293,655)

KeyBank Union & 24th Construction Commercial Construction 8,092

KeyBank 12th Avenue Arts Associates LLC 12AA HEDC Fee Reserve Account 132,176

KeyBank 12th Avenue Arts Associates LLC 12AA Key Fee Reserve Account 106,302

KeyBank Squire Park Plaza Security Deposit 54,255

KeyBank Squire Park Plaza Reserves 73,372 Total KeyBank 2,103,545

UnionBank Holiday Reserves 208,299

Total UnionBank 208,299

US Bank Pantages Apts LLC Reserves 454,353

US Bank Silvian Reserves 541,853 Total USBank 996,206

Total Restricted - Discrete Components 3,728,396

Chase AAA Operating Checking 29,473 Total Chase 29,473

KeyBank Oleta Operating Checking 29,393

KeyBank Helen V Apts LLC Operating Checking 204,004

KeyBank Pantages Apts LLC Operating Checking 53,487

KeyBank Silvian Operating Checking 195,703

KeyBank Broadway & Pine (BX) Operating Checking 28,821

KeyBank Woodland Park Ave LLC Operating Checking 17,608

KeyBank Holiday Apts Operating Checking 61,343

KeyBank SOPI / Unity Village Operating Checking 25,848

KeyBank Jefferson & 12th Construction 241

KeyBank Jefferson & 12th Operating Checking 47,908

KeyBank Twelfth Avenue Arts Res Operating Checking 201,954

KeyBank 12th Avenue Arts Associates LLC 12AA Commercial Operating (Debt Service) 314,751

KeyBank Squire Park Plaza Operating Checking 149,063 Total KeyBank 1,330,125

Total Unrestricted - Discrete Components 1,359,598

Total All Cash - Discrete Components 5,087,994


Total All Cash 14,891,758

TOTALS BY BANK

Key Bank 8,099,556$

Chase 876,246$

Banner 432,995$

US Bank 1,147,410$

Union Bank 206,188$

Bank of America 87,428$

Beneficial State bank -$

LGIP 3,855,829$

Other and Petty 186,105$

TOTAL CASH 14,891,758$

3/2/2019 12:26 PM M:\Finance & Accounting\@Secured\Board reports\2019\1.Jan\ Jan19 Cash report.xlsx Jan19 Page 2 of 2Page 27 of 70

Ratio Analysis

Calculations

CHHIP Operating Cash Balance: CHH main operating account balance at month end - prior 3 years

Receivable as a % of GPR: Measures how effective the Organization is at collecting rent charged to tenants

Calculation: Month end balance of tenant receivables accounts by site / total monthly gross potential rent

Target: CHH is still working to establish benchmarks for different receivable types

Self Sufficiency Ratio: Measures the Organization's ability to cover operating expenses with operating revenues

Calculation: Total operating expenses / total operating revenue less developer fees (grant income = prior 12 month avg)

Target: 100% = Operating revenues are sufficient to cover operating expenses

Days Operating Cash: Measures the c ash on hand to cover operating expenses based on current spend rate

Calculation: Month end operating cash balance / Avg expense per day (prior 3 months)

Target: 2 months operating cash on hand

Leverage Ratio: Measures the ratio of assets funded through debt relative to other sources (operating/grants etc)

Calculation: Total liabilities at month end / end of month net position

Target: 2.5 - 4: 4.0 maximum ratio

30

35

40

45

50

55

60

65

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan

Days Operating Cash

2.90

3.05

3.20

3.35

3.50

3.65

3.80

Leverage Ratio

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%Total Receivable as a % of GPR

-200,000

0

200,000

400,000

600,000

800,000

February March April May June July August September October November December January

CHHIP Operating Cash

Prior Year 2 Prior Year 1 Current Year

80%

85%

90%

95%

100%

105%

110%

Q1

2017

Q2

2017

Q3

2017

Q4

2017

Q1

2018

Q2

2018

Q3

2018

Q4

2018

Q1

2019

Self Sufficiency Ratio

Page 28 of 70

SECTION 6:

February 2019

Finance Report,

December 2018 Statements

and Asset Management

Report SE

CTI

ON

8

SEC

TIO

N 6

Page 29 of 70


Page 30 of 70

FEBRUARY 2019 FINANCE & ASSET MANAGEMENT BOARD REPORT AND MINUTES

Finance & Asset Management Committee Members: Drew Porter, Frank Alvarado, Chasten Fulbright

Staff Liaisons to the Board: Brad Lange, Greg Gibson (BOLD indicates those members in attendance)

Date, time and location of meeting: Tuesday February 5, 2019 4-5:00 pm Malden conference room

Financial Position Summary (June financial statements): During December, unrestricted cash increased by

approximately $140K. Cash increases of $200K from an operating line of credit draw and $75K from the first half

of the Foundation’s Q4 distribution were offset by the annual ORCA card prepayment and continued

predevelopment spending on multiple projects including Bonanza and CH Portfolio 1. The remaining fluctuations

on the balance sheet were the result of routine monthly transactions and continued predevelopment spending.

The unaudited operating statement for 2018 shows an operating surplus that is $9K less than the budgeted

operating surplus of $122,373. This is driven by expenses, which were $200,000 under budget due to decreased

office remodel costs and budget to actual differences for payroll expense resulting from changes in anticipated

start dates for new positions as well as timing of the Organizations annual merit increase relative to the budget.

The organization also experienced higher than normal turnover during 2018, which has led to several vacant

positions throughout the year. On the revenue side, CHH continues to be under budget on grants and donation

revenue as well as developer fees due to the slide of the Bonanza closing into Q1 of 2019 (originally budgeted

$300K in developer fee revenue in August).

Financial Review: The committee reviewed the monthly financial reports and the monthly financial ratio analysis.

The rolling twelve-month cash forecast was also reviewed. Comments and Analysis regarding the December Balance

Sheet and Operating Statement are included as annotations in the attached statements. As part of the cash flow

review, the committee also reviewed anticipated predevelopment spending projections.

The committee reviewed the Property Management dashboard report

Vacancy loss: The monthly portfolio vacancy rate was 4.1% with a year-to-date and rolling 12-month vacancy

percentage of 3.3%. Staff are aware of the continued uptick in vacancy percentage year-to-date and are actively

working to address the issues within Property Management.

Capital Projects Budget: The committee reviewed the 2019 capital projects budget. As part of this review, the

committee also reviewed CHH’s capital project policy as well as the list of planned maintenance projects for 2019.

The committee recommend the board adopt the capital projects budget as presented by staff.

Project Updates: Staff provide brief updates on the following projects currently underway

Yesler Terrace predevelopment financing (reviewed draft term sheet)

2019 CHH and Limited Partnership Audits

Transition of banking services to electronic payment platform

Grace Hill training program implementation

Park Hill repositioning

Portfolio Manager assignment reorganization

Page 31 of 70


Blended Balance Sheet

12.31.2018

unaudited

11.30.2018

unaudited

Change from

prior month

12.31.2017

audited*

12.31.2016

audited*

Assets

Unrestricted Cash 2,027,510 1,883,042 144,468 1 2,037,757 1,549,568

Accounts Receivable 959,305 939,639 19,666 811,476 605,408

Prepaids & Other Current Assets 362,811 314,641 48,170 2 341,351 145,836

Contributions/Grants Receivable 144,064 0 144,064 3 61,282 71,138

Due from Affiliates 4,983,382 4,754,498 228,884 4 5,193,026 5,591,990

Board Designated Operating Reserve 1,000,000 1,000,000 0 1,000,000 1,000,000

Board Designated Opportunity Reserve 244,931 242,426 2,505 567,083 651,507

Restricted Cash 6,492,351 6,506,081 (13,730) 6,135,901 5,605,330

Notes Receivable from Affiliates 15,322,710 15,322,710 0 15,322,710 15,411,829

Land 22,794,157 22,794,157 0 20,394,157 14,643,757

Buildings, Improvements & Equipment 74,943,421 74,594,101 349,320 5 74,146,986 72,923,292

Accumulated Depreciation (41,531,221) (41,345,309) (185,912) 6 (39,304,834) (37,093,003)

Lease Receivable 837,364 817,531 19,833 817,531 890,908

Investment in LPs/LLCs 1,512,376 1,513,091 (715) 1,527,084 1,534,145

Other Assets (5) (5,267) 5,262 (5) 0

Total Assets 90,093,156 89,331,341 761,815 89,051,505 83,531,705

Liabilities

Notes Payable 61,266,015 61,102,740 163,275 6 58,479,561 52,278,219

Accrued Interest Payable 4,411,104 4,385,715 25,389 4,385,715 4,406,834

Accounts Payable & Accrued Liabilities 4,694,934 4,479,542 215,392 7 4,956,384 4,859,505

Tenant Security Deposit Liability 547,786 550,319 (2,533) 579,612 562,478

Total Liabilities 70,919,839 70,518,316 401,523 68,401,272 62,107,036

Net Position 19,173,317 18,813,025 360,292 20,650,233 21,424,669

Total Liabilities and Net Assets 90,093,156 89,331,341 761,815 89,051,505 83,531,705

* Internal presentation, certain amounts netted for audit presentation

Significant balance sheet changes from prior month

1)

2)

3)

4)

5)

6)

7)

Capitalization of additional predevelopment expenditures, primarily for the Bonanza and CH Portfolio 1 syndication/resyndication

projects. In addition, CHH capitalized fixed asset projects completed during the year as part of the annual audit process.

Routine monthly depreciation expense

Increase is due to 2019 employee Orca card payment, which was made in December (annual pmt amortizes monthly).

Increase in cash is a function of the following transactions:

Received $75k foundation Q.4 distribution and $10K from LISC. In addition, we drew down $200K on the Banner Bank operating

line of credit. Quarterly reserve transfer of $46K was also completed which increased cash as we took reserves on several large

projects during the quarter.

These receipts were offset by the following expenditure: $67K for 2019 employee Orca card payment, $12K berneva payment for

the annual mortgage and $10K for LBB lease-up crisis consultation. Other expenses includes $15k Bonanza, $10k for CH portfolio 1,

and $22K for Jazz house projects, which were paid for using the HPN line of credit.

Accrued $100k of foundation Q.4 distribution which was declared in December 2018, but received in Jan2019. OIS grant of $11K

for Q.3 & Q.4 was also billed for in Dec and received in Jan. Final closeout of EJSH RENEW grant was also received subsequent to

year-end.

Change due to timing fluctuation of due to/from affiliates balances as well as additional predevelopment expense incurred on the

Bonanza and CHP Portfolio 1 resyndication projects.

Routine fluctuation in accrued payable balances based on timing of payroll and accounts payable check run relative to month-end as

well as fluctuations in intercompany "Due to CHH" balance that results from the recording of additional predevelopment expenses

for those projects still included as blended component units. December balance is typically higher due to year-end financial

statement accruals that are not made on a monthly basis.

Page 32 of 70

Capitol Hill Housing Improvement Program

Statement of Revenues and Expenditures - Unaudited

From 1/1/2018 Through 12/31/2018

Year to Date

Actual

Year to Date

Budget

Year to Date

Budget

Variance Variance Pct Total Budget

Budget

Remaining

Revenue

Tenant Rent

Residential tenant revenue 9,878,999 9,845,808 33,191 0.34% 9,845,808 (33,191)

Commercial rent and NNN 1,949,127 1,873,845 75,282 1 4.02% 1,873,845 (75,282)

Parking, laundry and other 213,643 205,606 8,037 3.91% 205,606 (8,037)

Res vacancy and concessions (336,817) (323,646) (13,171) 4.07% (323,646) 13,171

Total Tenant Rent 11,704,952 11,601,613 103,339 0.89% 11,601,613 (103,339)

Other Operating Revenue

Property Management Fees 1,575,360 1,593,451 (18,091) -1.14% 1,593,451 18,091

Partnership Management Fees 586,765 610,180 (23,415) -3.84% 610,180 23,415

Development Fees 539,140 706,000 (166,860) 2 -23.63% 706,000 166,860

Acctg, Leasing & Compliance Fees 893,510 876,428 17,082 1.95% 876,428 (17,082)

Other Operating Revenue 56,786 67,798 (11,013) -16.24% 67,798 11,013

Total Other Operating Revenue 3,651,561 3,853,857 (202,297) -5.25% 3,853,857 202,297

Other Revenue

Grants & Donations 784,957 882,570 (97,613) 3 -11.06% 882,570 97,613

Interest Income 149,525 180,710 (31,185) 4 -17.26% 180,710 31,185

Other Income (non-operating) 41,498 17,100 24,398 142.68% 17,100 (24,398)

Total Other Revenue 975,980 1,080,380 (104,400) 77.12% 1,080,380 104,400

Total Revenue 16,332,492 16,535,850 (203,358) -1.23% 16,535,850 203,358

Expenses

Accounting, Audit & Legal 546,758 517,518 (29,240) 5 -5.65% 517,518 (29,240)

Administrative Expenses 426,336 483,991 57,655 6 11.91% 483,991 57,655

Bad Debts 35,758 0 (35,758) 7 100.00% 0 (35,758)

Board Expense 4,462 6,700 2,238 33.40% 6,700 2,238

CHH Occupancy Expense 345,408 343,690 (1,718) -0.50% 343,690 (1,718)

Compliance, Taxes & License 283,527 220,639 (62,888) 8 -28.50% 220,639 (62,888)

Consulting 242,449 227,603 (14,846) -6.52% 227,603 (14,846)

Debt Service 2,626,741 2,642,878 16,137 0.61% 2,642,878 16,137

Insurance 309,061 309,171 110 0.04% 309,171 110

Leasing/Compliance Expense 247,344 247,344 0 0.00% 247,344 0

Miscellaneous Financial Expense 22,235 16,043 (6,192) -38.60% 16,043 (6,192)

Other Operating Expense 41,219 2,390 (38,829) 9 -1624.64% 2,390 (38,829)

Payroll, Taxes and Benefits 6,472,675 6,732,624 259,949 10 3.86% 6,732,624 259,949

Partnership Mgmt Fee Expense 130,467 138,812 8,345 6.01% 138,812 8,345

Property Mgmt Fee Expense 1,103,103 1,142,655 39,552 3.46% 1,142,655 39,552

Repair and Maintenance 1,619,213 1,613,862 (5,351) -0.33% 1,613,862 (5,351)

Technology 151,482 230,093 78,611 11 34.16% 230,093 78,611

Training, Dues, Subscriptions 136,473 150,480 14,007 9.31% 150,480 14,007

Utilities 1,443,652 1,362,165 (81,487) 12 -5.98% 1,362,165 (81,487)

Total Expenses 16,188,363 16,388,658 200,295 1.22% 16,388,658 200,295

Operating Surplus (Deficit) B4 Reserves 144,129 147,192 (3,063) -2.08% 147,192

Reserve Contributions

Replacement Reserve (497,082) (492,311) (4,771) 0.97% (492,311) 4,771

Operating Reserve (44,084) (43,084) (1,000) 2.32% (43,084) 1,000

Other Reserve (34,424) (34,424) 0 0.00% (34,424) 0

Total Reserve Contributions (575,590) (569,819) (5,771) 1.01% (569,819) 5,771

Operating Surplus (Deficit) (431,461) (422,627) (8,834) 2.09% (422,627)

Other Income (non-operating) 545,000 545,000 0.00% 545,000

Income/Loss 113,539 122,373 (8,834) 2.09% 122,373 See note

Page 33 of 70

Note

1)

2)

3)

4)

5)

6)

7)

8)

9)

10)

11)

12)

Includes $32K paid in relocation costs - A portion of this cost may be reimbursed through insurance proceeds.

Budget assumes annual merit increase was in effect for the full fiscal year; however, adjustments were not effective until February.

In addition, the Community Liaison position was budgeted to begin in January; however, hiring did not occur until the end of March.

The remainder of the difference is due to vacant positions, as the CHH budget assumes full staffing throughout the course of a year.

Technology costs were under budget due to the delay in implementation of Concur invoice (completed mid-September). In addition,

the 2018 budget included $35k for website redesign and $20K for implementation of SharePoint. Both projects have now moved to

a 2019 workplan.

Sewer and garbage/recycling expenses are both over budget year-to-date. Difference appears to related to rate increases in excess

of budget projections. The 2018 budget included a 3.2% increase for both categories while rates appear to have increased 4.1%

and 7.2% for sewer and garbage, respectively.

Interest income on operating accounts was less than budgeted projections.

$300K for Bonanza developer fee was budgeted in August. Projected timing for close is now anticipated to be Q1 of 2019; however,

projected fee is now estimated to be approximately $500K. Note: Station house developer fee received in October exceeded budget

by approximately $150K.

Foundation distributions year to date are under budget as reimbursement for the capital campaign coordinator position did not occur

in 2018. In addition, revenue from government grants directly to the PDA is also underbudget as billings for the PPG Home grant

have been less than anticipated as work on this project has partially shifted to 2019.

In addition, the grants & contributions line item above is net of related party grants made to CHH buildings. The Brewster SCL

concessions to tenants is recorded in this manner. Grant revenue from SCL was recorded in the prior year and concessions are

recorded monthly. Due to excess funding, these continued beyond the originally budgeted date.

Audit fees are over budget by $24K. This is partially due to engagement of CPA firm to convert K-1's from GAAP basis to tax basis.

Legal fees have also slightly exceeded budget.

Administrative costs are under budget as a result of the office expansion in early 2018. Office expansion costs were under budget by

approximately $15K in total, plus $28K of work was completed prior to year-end and was therefore reflected in the December 2017

financials.

No budget allocated for bad debt - this was an error in the budget process

Property taxes are over budget due to increases above projections for 2018.

Variance Discussion (Greater than $20K and 5%)

Original board approved budget assumed CHH would retain ownership of the Harvey in January, 2017. Subsequent to budget

finalization, it was determined that CHH would no longer be pursuing an ownership strategy. As such, the operating results and

budget totals for the Harvey are not included in the above report. This amount plus a $7K budget adjustment posted subsequent to

board approval, to reallocate rent credits, represents the difference between the final board approved budget and the total budget

column above.

Revenues have exceeded budget due to significant increases in property tax and utility costs that are billed back to tenants.

Date: 1/31/2019, 1:37 PM Page: 2

Page 34 of 70


Finance Dashboard

Year to Date at December 31, 2018

Unit Count

12-Month

Rolling Avg. Economic Vacancy

Blended Component Units: Affordable Market Total Actual Budget Var % Actual Budget Var %

Make

Ready

Total

Turn Time

Dec.

2018

12 MO

Rolling

2018

YTD

2017

Vacancy Actual Budget Variance

Berneva Nelda 12 12 9,522 9,353 2% 8,296 7,875 -5% 45 47 0.0% 0.8% 0.8% 1.4% 1,412 4,435 (3,024)

Boylston Howell Colby 30 30 11,229 11,361 -1% 8,280 8,749 5% 13 54 3.9% 1.3% 1.3% 0.8% 20,539 10,410 10,130

Bremer Colby 49 49 8,932 9,195 -3% 5,784 5,798 0% 27 135 8.0% 5.9% 5.9% 2.6% 53,410 56,435 (3,025)

Brewster Colby 35 35 9,291 8,464 10% 5,835 6,473 10% 121 8.6% 3.8% 3.8% 6.8% 67,774 16,507 51,267

Broadway Nelda 3 2 5 13,516 12,917 5% 7,742 7,988 3% 0.0% 0.0% 0.0% 0.2% 14,768 10,547 4,221

Burke Gilman Gardens Skye 15 15 12,548 12,629 -1% 9,364 9,097 -3% 13 151 6.4% 5.6% 5.6% 0.7% 17,238 22,461 (5,223)

Byron Wetmore Colby 12 12 11,459 11,548 -1% 10,075 10,423 3% 0.0% 0.0% 0.0% 1.1% 4,494 1,405 3,089

Casa di Cinque Skye 4 4 19,994 20,209 -1% 9,672 11,632 17% 0.0% 0.0% 0.0% 0.0% 23,743 15,356 8,387

Centennial Colby 21 9 30 11,839 12,091 -2% 5,767 6,073 5% 14 71 7.4% 6.3% 6.3% 2.7% 56,200 54,686 1,514

Devonshire Asia 62 62 9,492 9,528 0% 7,166 6,762 -6% 13 62 1.8% 2.7% 2.7% 2.3% 33,621 60,902 (27,281)

Eighteenth Avenue Valencia 9 9 12,221 13,538 -10% 7,757 8,067 4% 0.0% 6.0% 6.0% 2.5% (11,592) (2,519) (9,074)

El Nor Asia 55 55 10,712 10,721 0% 7,579 7,727 2% 19 83 1.8% 2.1% 2.1% 2.8% 39,455 31,676 7,779

Elizabeth James Nelda 60 60 10,366 10,262 1% 6,971 7,178 3% 27 74 0.0% 2.5% 2.5% 1.5% 50,013 14,792 35,221

Fleming Colby 36 36 9,245 9,434 -2% 6,680 5,814 -15% 16 64 8.5% 4.0% 4.0% 0.3% (3,171) 34,776 (37,947)

Four Ten Nelda 6 6 9,146 9,407 -3% 7,158 6,811 -5% 15 123 16.9% 5.6% 5.6% 1.8% 1,926 5,574 (3,648)

Four Twelve Colby 12 12 15,275 15,474 -1% 10,608 11,653 9% 46 122 9.6% 5.0% 5.0% 0.6% 22,113 7,211 14,902

Fredonia Skye 7 5 12 26,573 26,183 1% 14,260 15,512 8% 8 48 0.0% 1.7% 1.7% 2.0% 66,810 52,595 14,216

Gilman Court Skye 25 25 13,044 12,854 1% 9,533 10,229 7% 0.0% 0.0% 0.0% 1.1% 46,702 30,224 16,478

Harrison at 15th Nelda 19 19 20,777 19,622 6% 11,216 10,856 -3% 0.0% 0.0% 0.0% 0.1% 29,434 37,484 (8,049)

Hazel Plaza Nelda 16 16 25,383 25,492 0% 8,475 10,012 15% 3.3% 1.9% 1.9% 0.2% 127,628 107,346 20,282

Helen V Skye 38 38 18,302 18,188 1% 7,732 8,407 8% 30 69 5.2% 4.4% 4.4% 3.7% 243,411 213,413 29,998

Holden Vista Asia 16 16 15,073 14,421 5% 10,057 10,666 6% 0.0% 2.4% 2.4% 5.5% 57,280 37,118 20,161

Joe Black Apartments Colby 24 24 12,324 13,544 -9% 11,105 10,814 -3% 128 252 17.0% 12.7% 12.7% 1.7% (15,253) 25,207 (40,460)

John Carney Colby 27 27 8,614 8,472 2% 5,807 6,507 11% 18 65 3.1% 1.1% 1.1% 1.4% 34,629 11,567 23,061

Larned Colby 33 33 10,416 10,380 0% 6,935 7,132 3% 23 55 5.7% 2.3% 2.3% 1.9% 92,573 85,237 7,336

Lincoln Court Nelda 29 29 10,072 10,155 -1% 6,707 6,355 -6% 36 120 3.0% 2.2% 2.2% 2.3% (15,248) (2,625) (12,623)

Mary Ruth Manor Nelda 20 20 23,982 23,846 1% 9,178 10,475 12% 21 93 12.9% 4.5% 4.5% 3.6% 109,513 82,139 27,374

Maxwell Nelda 4 4 11,667 11,368 3% 6,669 8,184 19% 0.0% 0.0% 0.0% 0.4% 13,907 6,652 7,255

Melrose Asia 30 30 9,105 9,092 0% 6,319 6,994 10% 12 59 7.2% 3.5% 3.5% 1.8% 45,283 24,667 20,616

Miller Park Skye 12 12 12,215 12,125 1% 8,418 8,583 2% 13 43 8.2% 2.6% 2.6% 1.6% 12,719 9,656 3,063

Oleta Colby 34 34 8,966 9,514 -6% 6,500 5,827 -12% 29 99 18.0% 8.4% 8.4% 3.4% (39,706) 17,855 (57,562)

Park Hill Skye 18 12 30 14,859 14,432 3% 8,907 9,747 9% 14 76 3.9% 2.1% 2.1% 3.8% 114,750 76,743 38,006

Ponderosa Valencia 23 23 9,093 9,214 -1% 7,577 7,236 -5% 9.4% 3.9% 3.9% 0.1% 20,366 31,006 (10,640)

Seneca Nelda 32 32 10,675 10,933 -2% 7,492 7,979 6% 67 157 3.0% 1.3% 1.3% 0.2% (61,108) 32,500 (93,607)

Union James Asia 24 24 14,898 13,674 9% 12,757 9,082 -40% 65 207 0.0% 5.8% 5.8% 6.9% (66,107) 1,379 (67,486)

Villa Asia 62 62 12,099 11,864 2% 7,362 8,135 10% 13 53 0.0% 1.0% 1.0% 1.4% 42,004 (2,314) 44,318

1,251,530 1,222,504 29,026

Portfolio

Manager

YTD 2018

Op expenses B4 Debt

Cost Per Unit

2018 YTD Cash Flow

after debt and reserves

YTD 2018

Income Per Unit

M:\Finance & Accounting\@Secured\Board reports\2018\12-December Reports - February Meeting\12-18-Finance dashboard.xlsx

Page 35 of 70

Discrete Component Units:

Broadway Crossing Colby 44 44 10,243 11,399 -10% 8,143 8,405 3% 15 65 4.4% 3.2% 3.2% 1.7% 18,876 58,350 (39,474)

Fremont Solstice Skye 18 18 11,175 11,502 -3% 8,484 8,055 -5% 16 66 5.3% 2.4% 2.4% 0.4% (15,404) 96 (15,500)

Haines AAA Asia 30 30 11,346 11,376 0% 6,923 8,166 15% 6 161 0.0% 3.8% 3.8% 3.5% (45,354) 13,453 (58,807)

Holiday Skye 30 30 11,794 11,587 2% 5,937 6,539 9% 45 0.2% 0.4% 0.4% 1.9% 45,743 21,481 24,261

Jefferson Housing Asia 40 40 13,046 13,314 -2% 8,907 7,887 -13% 28 90 0.0% 4.2% 4.2% 0.6% (22,045) 18,219 (40,264)

Pantages Colby 49 49 10,064 10,498 -4% 7,612 7,490 -2% 43 112 3.6% 3.3% 3.3% 0.8% 16,251 39,717 (23,466)

Silvian Skye 32 32 13,240 11,762 13% 7,703 7,130 -8% 33 94 0.0% 4.2% 4.2% 0.5% 57,400 29,475 27,925

Squire Park Plaza Valencia 33 27 60 20,000 20,283 -1% 8,413 8,379 0% 13 84 2.8% 3.3% 3.3% 4.5% 191,908 211,015 (19,107)

Twelfth Avenue Arts Valencia 88 88 11,475 11,354 1% 5,543 5,758 4% 13 35 3.6% 1.7% 1.7% 1.6% 131,619 102,296 29,323

Unity Village Asia 30 30 10,333 10,081 3% 7,894 8,734 10% 11 197 7.2% 5.4% 5.4% 5.2% 60,049 27,277 32,772

439,043 521,379 (82,336)

Portfolio Totals 1308 55 1363 12,274 12,272 0% 7,655 7,789 -2% 25 86 4.1% 3.3% 3.3% 2.3% 1,690,573 1,743,883 (53,310)

Explanation of select properties with high vacancies or large vacancy increases:

Bremer - four vacancies in Dec. (two are hard turns)

Brewster - three vacancies in Dec.

Burke Gilman Gardens - one vacancy in Dec. (2-bdr unit with higher rent). Leased at end of month

Centennial - two vacancies in Dec. (one a 2-bdr with higher rent)

Fleming - two vacancies in Dec.

Four Ten - one vacancy in Dec.

Four Twelve - two vacancies in Dec. (one a 2-bdr and the other a 3-bdr)

Joe Black - four vacancies in Dec.; all 3-bdr units with higher rents. One requires extensive maintenance repairs and clean up.

Mary Ruth Manor - No vacancies in Dec., all concessions related to late certifications from Sept. - Dec. posting in Dec.

Melrose - one vacancy in Dec. (unit was vacant in Oct. and Nov. but was not recorded - posted to Dec.)

Miller Park - one vacancy in Dec. (2-bdr unit with higher rent)

Oleta - six vacancies Dec. Three vacancies related to rodent infestation

Ponderosa - three vacancies in Dec. (one was partial move-out towards end of month, hard turn due to water damage). Waitlist challenges

Unity Village - two vacancies in Dec. (both 2-brds with higher rents)

M:\Finance & Accounting\@Secured\Board reports\2018\12-December Reports - February Meeting\12-18-Finance dashboard.xlsx

Page 36 of 70

Bank CHH Blended Component Unit Type Balance

Chase Larned Reserves 117,774

Chase 412 Reserves 95,353 Total Chase 213,127

KeyBank Capitol Hill Housing Security Deposit 272,637

KeyBank Capitol Hill Housing - SoundFamilies Restricted Savings 21,801

KeyBank Hazel Plaza Reserves 196,406

KeyBank Hazel Plaza Security Deposit 3,494

KeyBank Larned Security Deposit 21,802

KeyBank Byron Wetmore Reserves 54,097

KeyBank Byron Wetmore Security Deposit 9,318

Key Bank 412 Security Deposit 2,811

KeyBank Holden Vista Reserves 56,604

KeyBank Holden Vista Security Deposit 3,640

KeyBank Mary Ruth Manor Reserves 276,623

KeyBank Mary Ruth Manor Security Deposit 6,037

KeyBank EJSH Security Deposit 11,491

KeyBank Fleming Apts LP Security Deposit 23,497

KeyBank Gilman Court LP Reserves 115,175

KeyBank Gilman Court LP Security Deposit 20,335

KeyBank Villa Apts LP Reserves 187,139

KeyBank Villa Apts LP Security Deposit 44,282

KeyBank El Nor LP Security Deposit 9,313

KeyBank El Nor LP Reserve 571,627

KeyBank El Nor LP Capital Reserves 184,678

KeyBank 18th Ave Apartments Security Deposit 2,010

KeyBank Harrison Security Deposit 20,071 KeyBank Ponderosa Reserves 482,704

KeyBank Ponderosa Security Deposit 3,054

KeyBank 12th Avenue Arts Master Tenant LLC Security Deposit 54,764

KeyBank 12th Avenue Arts Master Tenant LLC Reserves 11,657

Key Bank Union James Security Deposit 5,964

Key Bank Union James Reserves 85,988

Key Bank Lake City Security Deposit 6,545


Banner Berneva Reserves 12,938

Banner Seneca Reserves 240,274

Banner Seneca Security Deposit 19,483


LGIP Capitol Hill Housing Reserves 2,702,660

Total LGIP 2,702,660

Oppenheimer EJSH Escrow 20,843

Oppenheimer EJSH Reserves 119,540

Total Oppenheimer 140,384

Chase Harrison Reserves 163,822

Total Chase 163,822

US Bank 18th Ave Apartments Reserves 149,996

Total USBank 149,996

BofA Fleming Apts LP Reserves 84,103

Total BofA 84,103

Total Restricted - CHH Blended Components 6,492,351

LGIP Capitol Hill Housing Board Designated Reserves 1,244,931

Total Designated 1,244,931

UnionBank Capitol Hill Housing EQII 7,936

Total Union Bank 7,936

KeyBank Capitol Hill Housing EQII 81,363

Total KeyBank 81,363

HPN Capitol Hill Housing HPN 65,228

Total HPN 65,228

KeyBank Capitol Hill Housing Payroll -

KeyBank Capitol Hill Housing Operating Checking 236,450

KeyBank Capitol Hill Dev. Assoc Operating Checking 1,265

KeyBank Capitol Hill Real Estate Mgmt Services Operating Checking 29,544

KeyBank Cash-Restricted Operating Checking 197,650

KeyBank Hazel Plaza Operating Checking 185,272

KeyBank Larned Operating Checking 182,347

KeyBank Byron Wetmore Operating Checking 18,571

KeyBank 412 Operating Checking 45,999

KeyBank Holden Vista Operating Checking 49,591

KeyBank Mary Ruth Manor Operating Checking 53,874

KeyBank EJSH Operating Checking 28,107

KeyBank Fleming Apts LP Operating Checking 25,611

KeyBank Gilman Court LP Operating Checking 62,167

KeyBank Villa Apts LP Operating Checking 139,718

KeyBank El Nor LP Operating Checking 146,177

KeyBank 18th Ave Apartments Operating Checking 8,095

KeyBank Harrison Operating Checking 105,393

KeyBank Ponderosa Operating Checking 28,343

KeyBank 12th Ave Arts Development Operating Checking 65,249

KeyBank 12AA Master Tenant LLC Operating Checking 67,052

KeyBank Union James Operating Checking 17,589

KeyBank Lake City Operating Checking 12,237

KeyBank Africa Town(Mid-town) Operating Checking 14,292


CHH

CASH IN BANK

FOR THE MONTH ENDING: Dec 2018

1/31/2019 12:42 PM M:\Finance & Accounting\@Secured\Board reports\2018\12-December Reports - February Meeting\ Dec18 Cash report.xlsx Dec18 Page 1 of 2Page 37 of 70

CHH

CASH IN BANK

FOR THE MONTH ENDING: Dec 2018

Cash Various Petty Cash - CHHIP 100

Total Petty Cash 100

Banner Berneva Operating Checking 15,194

Banner Seneca Operating Checking 137,097


Total Unrestricted - CHH Blended Components 2,027,510


Bank Discrete Component Unit Type Balance

Chase Oleta Reserves 134,972

Chase Woodland Park Ave LLC Reserves 138,622

Chase AAA Security Deposit 5,748

Chase AAA Reserves 136,999

Total Chase 416,341

KeyBank Broadway & Pine Reserves 282,902

KeyBank Broadway & Pine Security Deposit 23,019

KeyBank Helen V Apts LLC Reserves 299,722

KeyBank Helen V Apts LLC Security Deposit 8,262

KeyBank Holiday Apts Security Deposit 22,315

KeyBank Jefferson & 12th Reserves 302,319

KeyBank Jefferson & 12th Security Deposit 35,875

KeyBank Oleta Security Deposit 21,253

KeyBank Pantages Apts LLC Security Deposit 27,283

KeyBank Silvian Security Deposit 6,820

KeyBank SOPI / Unity Village Reserves 206,598

KeyBank SOPI / Unity Village Security Deposit 15,856

KeyBank Woodland Park Ave LLC Security Deposit 10,630

KeyBank 12th Avenue Arts Housing Security Deposit 72,426

KeyBank 12th Avenue Arts Housing Reserves 677,303

KeyBank Union & 24th Construction Residential Construction 36,288

KeyBank Union & 24th Construction Commercial Construction 73

KeyBank 12th Avenue Arts Associates LLC 12AA HEDC Fee Reserve Account 138,301

KeyBank 12th Avenue Arts Associates LLC 12AA Key Fee Reserve Account 178,073

KeyBank Squire Park Plaza Security Deposit 55,955

KeyBank Squire Park Plaza Reserves 71,737 Total KeyBank 2,493,009

UnionBank Holiday Reserves 207,195

Total UnionBank 207,195

US Bank Pantages Apts LLC Reserves 451,911

US Bank Silvian Reserves 538,807 Total USBank 990,718

Total Restricted - Discrete Components 4,107,263

Chase AAA Operating Checking 19,428 Total Chase 19,428

KeyBank Oleta Operating Checking 30,834

KeyBank Helen V Apts LLC Operating Checking 244,915

KeyBank Pantages Apts LLC Operating Checking 49,288

KeyBank Silvian Operating Checking 214,189

KeyBank Broadway & Pine (BX) Operating Checking 32,255

KeyBank Woodland Park Ave LLC Operating Checking 12,249

KeyBank Holiday Apts Operating Checking 60,948

KeyBank SOPI / Unity Village Operating Checking 41,657

KeyBank Jefferson & 12th Construction 241

KeyBank Jefferson & 12th Operating Checking 39,013

KeyBank Twelfth Avenue Arts Res Operating Checking 188,480

KeyBank 12th Avenue Arts Associates LLC 12AA Commercial Operating (Debt Service) 338,491

KeyBank Squire Park Plaza Operating Checking 132,168 Total KeyBank 1,384,727

Total Unrestricted - Discrete Components 1,404,155

Total All Cash - Discrete Components 5,511,418


Total All Cash 15,276,209

TOTALS BY BANK

Key Bank 8,363,892$

Chase 894,081$

Banner 424,985$

US Bank 1,140,714$

Union Bank 215,131$

Bank of America 84,103$

Beneficial State bank -$

LGIP 3,947,591$

Other and Petty 205,712$

TOTAL CASH 15,276,209$

1/31/2019 12:42 PM M:\Finance & Accounting\@Secured\Board reports\2018\12-December Reports - February Meeting\ Dec18 Cash report.xlsx Dec18 Page 2 of 2Page 38 of 70

Ratio Analysis

Calculations

CHHIP Operating Cash Balance: CHH main operating account balance at month end - prior 3 years

Receivable as a % of GPR: Measures how effective the Organization is at collecting rent charged to tenants

Calculation: Month end balance of tenant receivables accounts by site / total monthly gross potential rent

Target: CHH is still working to establish benchmarks for different receivable types

Self Sufficiency Ratio: Measures the Organization's ability to cover operating expenses with operating revenues

Calculation: Total operating expenses / total operating revenue less developer fees (grant income = prior 12 month avg)

Target: 100% = Operating revenues are sufficient to cover operating expenses

Days Operating Cash: Measures the c ash on hand to cover operating expenses based on current spend rate

Calculation: Month end operating cash balance / Avg expense per day (prior 3 months)

Target: 2 months operating cash on hand

Leverage Ratio: Measures the ratio of assets funded through debt relative to other sources (operating/grants etc)

Calculation: Total liabilities at month end / end of month net position

Target: 2.5 - 4: 4.0 maximum ratio

30

35

40

45

50

55

60

65

Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Days Operating Cash

2.90

3.05

3.20

3.35

3.50

3.65

3.80

Leverage Ratio

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%Total Receivable as a % of GPR

-200,000

0

200,000

400,000

600,000

800,000

January February March April May June July August September October November December

CHHIP Operating Cash

Prior Year 2 Prior Year 1 Current Year

80%

85%

90%

95%

100%

105%

110%

Q4

2016

Q1

2017

Q2

2017

Q3

2017

Q4

2017

Q1

2018

Q2

2018

Q3

2018

Q4

2018

Self Sufficiency Ratio

Page 39 of 70


Page 40 of 70

SECTION 7:

2019 Capital Projects

Budget SEC

TIO

N 8

SE

CTI

ON

7

Page 41 of 70


Page 42 of 70

2018 Capital Projects Budget2/28/2018

Per the CHH Charter, an annual capital projects budget is to be approved by the board. This budget is intended to summarize capital projects at CHH buildings that will be undertaken during the year.

Building Capital Project Estimated Cost Funding Source

Replacement

Reserves

2/12/18

Operating

Reserves

2/12/18 Priority

Difficulty of

Execution 12/31/18 Update

Helen V Roof 80,000$ Reserves 234,770$ 111,786$ Medium Low Complete

Park Hill* Window sill repair, stairwell windows 100,000$ Building cash flow and reserves 75,314$ 104,817$ High Low 2019 project

Miller Park Roof 80,000$ Reserves 194,000$ 37,982$ Medium Low Complete

Elizabeth James Roof, solar, efficiency upgrades 700,000$ Incentive reimb, new loans, grants 115,063$ -$ Medium Medium Roof in 2019

Seneca Exterior sealent repair 125,000$ Reserves 227,074$ 5,618$ High Medium Complete

Union James Site drainage, replace downspouts, hallways 125,000$ Reserves, resid recpts, and cash on hand 50,046$ -$ High Low

Downspouts complete, rest in

process

Villa Recoat exterior, sealant work, leak repair 210,000$ Reserves, cash on hand and CHH funds 114,615$ 15,822$ High Medium 2019 project

Holden Vista Replace electrical panels 60,000$ Reserves, cash on hand, refinance? 67,220$ -$ High Medium Complete

Boylston Howell Exterior envelope replacement, roof 2,600,000$ Bank debt, city investment, syndication? 80,040$ 21,539$ High High CHP 1

Gilman Court Roof, siding, windows, cabinets 3,000,000$ Reserves/Cash flow/refi 81,340$ 7,282$ High Medium Future Project

Fleming Tuckpoint 80,000$ Bank debt, city investment? 59,397$ 14,692$ High High 2019 project

John Carney Siding replacement, windows 2,000,000$ Bank debt, city investment? 1,658$ 56,367$ High High CHP 1

Total 9,160,000$

Color Code

Green -- property has ability to pay for capital item from reserves or refinance proceeds

Yellow-- property can pay for some of capital item from reserve or refinance proceeds

Red-- property will require extraordinary funding or funds from CHH general account to pay for capital needs

* repositioning of building is under consideration by Board

Page 43 of 70

2019 Capital Projects Budget1/31/2019

Per the CHH Charter, an annual capital projects budget is to be approved by the board. This budget is intended to summarize capital projects at CHH buildings that will be undertaken during the year.

Building Capital Project Estimated Cost Funding Source

Replacement

Reserves

1/30/19

Operating

Reserves

1/30/19 Priority

Difficulty of

Execution

Holden Vista Roof replacement 50,000$ Replacement Reserves 57,184$ -$ High Low

Helen V Window replacement and repaint sills 165,000$ Replacement Reserves 188,721$ 113,184$ Medium Medium

Villa Repair/recoat exterior 50,000$ Replacement Reserves 136,768$ 17,205$ Medium Medium

Broadway Crossong Exterior paint 65,000$ Replacement Reserves 167,508$ 117,927$ Medium Medium

Park Hill Masonry Repair 150,000$ Replacement and Operating Reserves 77,665$ 98,841$ High Medium

Berneva Masonry Repair 100,000$ General Building Reserves 8,076$ 12,818$ Medium Medium

Fredonia Siding replacement (partial) and repaint 65,000$ Operating Reserves 42,029$ 152,533$ Medium Medium

Fleming Window sills and water sealing 50,000$ General Building Reserves 67,528$ 16,575$ High High

Holden Vista Domestic water pipe replacement 125,000$ General Building Reserves II 57,184$ -$ Medium Medium

Oleta Masonry Repair 70,000$ General Building Reserves II 135,964$ -$ Medium Medium

Total 890,000$

Color Code

Green -- property has ability to pay for capital item from replacement reserves

Yellow-- property can pay for capital item through General Building Reserves or Operating Reserves

Red-- property will require General Building Reserves II (requires closing of Bonanza transaction for funding)

Page 44 of 70

SECTION 8:

Consent Agenda

and Attachments SEC

TIO

N 8

SE

CTI

ON

8

Page 45 of 70


Page 46 of 70

CAPITOL HILL HOUSING REGULAR MEETING

March 11, 2019 5:30-7:30 PM Regular Meeting

12th Ave Arts Pike Pine Meeting Room 1620 12th Avenue, Seattle

CONSENT ITEMS

MINUTES AND REPORTS

1. February 2019 Draft Board Meeting Minutes (attached for adoption) 2. Tenant Communications Tracking (attached for review) 3. Committee Reports and Minutes (attached for acceptance)

DONATIONS, TRANSACTIONS OVER $10,000 OR 1-YEAR, AGREEMENTS WITH PUBLIC ENTITIES

Blended

Date Bldg/Entity Contract with: Amount Purpose

March 6, 2019 CHH Aakanksha Sinha $10,850.00

Consultant to conduct unmet needs and strengths assessment of CHH residents to help develop a Community Informed Resident Services Program. The consultant will survey and interview residents, as well as a two-day ideation session with residents, resident services staff, and other CHH staff.

February 20, 2019 JOE BLACK Mac Air Northwest

$113,954.00 Install ductless split system heat pumps in all units.

February 20, 2019 JOE BLACK Mac Air Northwest

$18,828.00 Replace all bath fans and insulate/replace vent ducts for 9 units.

February 20, 2019 CHH WegoWise $11,976.00 Extension of WegoWise services for 1359 CHH units, plus addition of services for Liberty Bank Building.

January 28, 2019 PARKHILL

Allied Restoration dba Servpro of Central Seattle

$24,161.00 Repair water damage in units 1, 4, 7, and laundry room.

September 18, 2018 EJSH City of Seattle Office of Housing

$92,553.00 Add additional funds for roof insulation, lighting upgrades, fan vent cleaning, and fan replacement.

June 4, 2018 EJSH City of Seattle Office of Housing

$29,955.00 Add additional funds to pay for additional engineering and commissioning of the heat pump system.

Page 47 of 70


Page 48 of 70

REGULAR BOARD MEETING MINUTES

February 11, 2019 Note: Because of severe weather, the Board meeting was taken telephonically so that vital matters could be addressed. All other matters were tabled. The meeting was properly noticed and open to the public. Members Present (via phone): Frank F. Alvarado III, Derrick Belgarde, Paul Breckenridge, Jill Cronauer, Sara Cubillos (Emerging Leader Fellow), Bob Fikso, Chasten Fulbright, Shalimar Gonzales, Robert Schwartz, Eric Snow, Rachael Steward Members Absent: Dana Behar, Rachel Ben-Shmuel, b.g Nabors-Glass, Cathy Hillenbrand Staff Present (via phone): Kiley Dhatt, Jill Fleming, Chris Persons, Michael Seiwerath, Sarah Shoemake (taking minutes) The meeting was called to order by Robert Schwartz at 5:35 pm. A motion to approve the Consent Agenda was made by Bob Fikso, seconded by Shalimar Gonzales and Frank Alvarado, and passed unanimously. Disclosures and recusals: Rachael Steward disclosed that she works at Seattle Housing Authority. Public comment: None.

Presentation and Discussion Public Policy Agenda: This topic was tabled to a future meeting. Foundation 2018 Review and 2019 Outlook: This topic was tabled to a future meeting.

Finance and Asset Management Finance and Asset Management Report: This topic was tabled to a future meeting. 2019 Capital Projects Budget: This topic was tabled to a future meeting.

Page 49 of 70

Executive Committee and Governance

Board Development: Rob gave a brief update on potential Board candidates. Resolution 2019-02: Rise Together Expanded Goal: Kiley reviewed the resolution, which she presented in detail at the January Board meeting, regarding increasing the fundraising goal for the Rise Together Capital Campaign. A motion to approve Resolution 2019-02: Rise Together Expanded Goal was made by Rachael Steward, seconded by Shalimar Gonzales, and passed unanimously.

Pipeline Review and Project Introductions Resolution 2019-03: Yesler Family Housing Predevelopment Loan: Jill reviewed the resolution, which authorizes predevelopment financing for the Yesler Family Housing Project. Initial predevelopment was approved in December in Resolution 2018-27; however, this Resolution authorizes the specific financing. A motion to approve Resolution 2019-02: Yesler Family Housing Predevelopment Loan was made by Chasten Fulbright, seconded by Bob Fikso, and passed unanimously. Development Pipeline Update: This topic was tabled to a future meeting.

Other Initial CEO Annual Review: Rob reviewed the CEO Annual Review documents recently distributed to the Board. He gave an update on the status of the review. The meeting was adjourned by Robert Schwartz at 5:56 pm. Attested, ________________________________________ Derrick Belgarde, Secretary March 11, 2019

Page 50 of 70

Resident Communications Tracking

Tenant communication tracking

Resident Services Manager (Ashely Thomas), Associate Director of Property Management (Terra Walsh)

& IT Director (Michael Appleton) are collaborating to create a new Tennant Communication Tracking

system.

Building Issue Status Resolution Berneva Tenant has submitted multiple

complaints regarding his neighbors, their guests, and the Site Manager. His comments and communication have become harassing in nature.

Open Meeting conducted between tenant, Portfolio Manager, Sr. Director of Property Management, and VP of Organizational Performance scheduled for 3/28. Follow-up meetings with PM held monthly.

Larned Resident sent a complaint about CHH Staff cleaning out storage unit after notification that the unit contents would be removed after August 7, 2018 (unit contents removed on August 14, 2018).

Open After investigation by SDPM and review by Lawyers it was determined that CHH should settle with this Resident. The Resident has agreed to a settlement and CHH is working with the lawyer 12th AA to draw up an agreement.

12th AA Resident sent in a complaint about behavior from the Building Specialist, overheard conversations from Staff and general neglect from CHH personnel.

Open The SDPM contacted Resident to determine what has happened on 10/8/2018 by email to set an appointment to discuss concerns and start an investigation of the facts. Resident didn’t respond. SDPM made another attempt to contact Resident by e-mail on 12/3/2018 to set a meeting date, waiting for response.

Page 51 of 70

March 2019 PROPERTY MANAGEMENT COMMITTEE BOARD REPORT AND MINUTES Property Management Committee Members: b.g. Nabors-Glass, Chasten Fulbright, Derrick Belgarde, Felicia Cross Staff Liaisons to the Board: Terra Walsh, Chris Persons, Ashley Thomas, Noah Wernstedt-Lynch (BOLD indicates those members in attendance) Date, time and location of meeting: March 4, 2018 -3:00 –4:00 PM Belmont Conference Room Date, time and location of next meeting: April 2, 2018 -3:00 -4:00 PM Belmont Conference Room

- Elizabeth James Water Savings Project

o Scope – Replace all toilets, aerators, and shower heads for water conservation. o Status – Reschedule for march. Additional toilet bowls need to ordered.

- 12th Ave Arts Theater Lobby Acoustics Project o Scope – Install carpet, acoustic panels, and door seals. o Status – Painting, carpet, and acoustic panels installed. Door sweeps to be installed mid

Feb 2019. - Oleta Projects

o Apt 201/202 Renovation – Demo and reconstruct after rodent inspection and eradication. o Status – Demo complete. Start construction by Feb 2019. o Front Entry Hand Rail Installation (life/Safety issue). o New rails to be installed mid March.

- Broadway Crossing Paint Project o Scope – Repaint front canopy, resident deck structures, and trim. o Status – Design completed. Bid next spring.

- Gilman Ct Sidewalk Repair Project o Scope – Repair/Replace damaged sections of sidewalk. o Status – Design complete and permit ready. Bid in Jan for work Feb 18-22.

- Fredonia Water Heater Replacement Project o Scope – Replace existing gas water heater and associated piping and reinsulate tank and

piping. o Status – Developing scope of work and send for bids mid March. Tested for asbestos. No

asbestos found. - Cal Anderson Sprinkler Head Replacement Project

o Scope – Replace recalled sprinkler heads throughout bldg. o Status – Work completed.

- Park Hill Water Damage Restoration Project o Scope – Repair water damaged surfaces in apts 1, 4, 7, and the laundry room. o Status – Received HAZMAT report. Bids due March 17.

Page 52 of 70

- Larned Sprinkler Head Replacement Project o Scope – Replace recalled sprinkler heads throughout bldg. o Status – Not started.

- Fleming Parapet Wall/Chimney Bracing Project o Scope – Design and install bracing systems for URM bldg. construction. o Status – Design in progress. Advertise for bids mid-March.

- Joe Black Indoor Air Quality Project o Scope – Identify cause of indoor air quality issues, design and install mitigation measures. o Status – Heat pump and bath fan projects are out for bids. Bids due Feb 5.

- 12th Ave Arts Bldg Commercial Door Project o Scope – Repair/replace exterior folding doors in commercial spaces. o Status – ARC contracted to evaluate systems and provide bid documents. Expect work to

commence July 2019. - Lincoln Ct Structural Repairs

o Scope – Install post/beam connectors in basement. o Status – Design complete. Bids due Feb 5. o Masonry Evaluation at 4 Buildings o Scope – Evaluate condition of masonry in response to Office of Housing inspection items.

Fleming, Oleta, Lincoln Ct., and Berneva. o Status – Received reports.

- Union James Remodel Unit 105 (James) Project o Scope – Address mold and rodent issues. o Status – Demo scope to be developed and bid out in March. Added apt 207.

- Fleming Cable TV Wiring Relocation Project o Scope – Relocated cable TV wiring from exterior of building/repair wire molding. o Status – After masonry evaluation.

- Oleta Cable TV Wiring Relocation Project o Scope – Relocated cable TV wiring from exterior of building/repair wire molding. o Status – After masonry evaluation.

- Lincoln Ct. Cable TV Wiring Relocation Project o Scope – Relocated cable TV wiring from exterior of building/repair wire molding. o Status – After masonry evaluation.

Building Operations:

• January monthly snapshot vacancy was 3.8%

• 12-month rolling vacancy rate was 3.4% Target Properties with high vacancies:

• Bremer - four vacancies in Jan. (two are hard turns)

• Brewster - three vacancies in Jan.

• Broadway Crossing - two vacancies in Jan. (one a 2-bdr unit with higher rent). Each unit received a $100 rent concessions due to elevator outage

• Joe Black - four vacancies in Jan.; two 3-bdr and two 2-bdr units with higher rents. One requires extensive maintenance repairs and clean up.

• Oleta - six vacancies Jan. Three vacancies related to rodent infestation

• Ponderosa - three vacancies in Jan. (one was hard turn due to water damage). Waitlist challenges.

Page 53 of 70

Department Highlights:

Resident Services for January 2018 Rental Assistance:

• 12 residents applied

• 14 residents attended Financial Fitness Bootcamp

• 12 residents received rental assistance Service Referrals:

• 62 total service touches

• 50 total service connections to resources

• 12 non-referral-based meetings (5 PM Complaints, 1 Resident Conflict, and 6 1:1 Check-In’s) Community Events: 3 events

January 2019 REAC Scores

Ponderosa 85c

Silvian 84b Bayview Tower 91b

Mary Ruth Manor 92b

$5,446

$5,446

$25,941

$0

$5,000

$10,000

$15,000

$20,000

$25,000

$30,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total

Rental Assistance Program

Funds Awarded Balance

CHH Rental Assistance Program: There was $6,387 left over in our CHH Rental Assistance funds from 2018, starting our 2019 year off with a total of $31,387. Allowing us to award a more rental assistance funds in January 2019. 1. 12 Residents applied

2. 14 Residents attended Financial Fitness Workshop

3. 12 residents received rental assistance

Page 54 of 70

January Service Touches by Type

• 62 Total Service Touches (Donut Chart represents top 6 types of service touch)

• Non-Referral Services: 1:1 check ins (relationship building) as well as conversations between RSC and residents

about PM complaints, MSP complaints, or conflict. • 6 Check-Ins

• 5 Property Management Complaints

• 1 Neighbor Conflict Discussion

Page 55 of 70

https://app.powerbi.com/reports/da2e9893-7a91-4fdb-af02-9945d8ffd1b8/ReportSection?pbi_source=PowerPoint


Asset Management Dashboard

Year to Date at January 31, 2019

12-Month

Rolling Avg.(2)

Building

Vacant

Units

Vacancy

%

Total

Units Actual

Budget

Var % Actual

Budget

Var % Actual

Budget

Var %

Make

Ready

Total

Turn Time Jan. 2019

12 MO

Rolling

2018

Vacancy

Byron Wetmore 12 991 1% 472 34% 45 -79% 0.8% 0.1% 0.0%

Elizabeth James 60 882 1% 858 -38% (190) -594% 27 79 1.7% 2.5% 2.5%

Four Twelve 12 1,089 -18% 931 3% (190) -595% 46 153 0.0% 5.1% 5.0%

Hazel Plaza 1 6.3% 16 2,144 -5% 670 19% 716 6% 0 61 3.3% 2.1% 1.9%

Joe Black Apartments 3 12.5% 24 1,019 -14% 682 24% 197 31% 128 227 14.0% 13.8% 12.7%

Mary Ruth Manor 20 2,109 0% 971 -7% 356 -18% 21 93 0.0% 4.2% 4.5%

Union James 2 8.3% 24 1,646 7% 1,222 -35% 241 -5% 61 124 0.0% 4.5% 5.8%

Asia Total 6 3.6% 168 1,300 -3% 858 9% 95 -54% 64 150 2.7% 4.6% 4.6%Eighteenth Avenue 9 1,148 1% 842 -3% (106) -11% 0 0 0.0% 5.0% 6.0%

El Nor 1 1.8% 55 903 2% 734 -6% (13) -294% 20 97 1.8% 2.0% 2.1%

Helen V 2 5.3% 38 1,525 -1% 644 29% 585 72% 30 71 5.5% 4.5% 4.4%

Holden Vista 16 1,305 6% 953 2% (684) -403% 0 0 0.0% 1.9% 2.4%

Holiday 30 956 -6% 594 12% 1 103% 0 0 0.2% 0.2% 0.4%

Park Hill 1 3.3% 30 1,269 -1% 734 13% 358 32% 14 91 4.3% 2.5% 2.1%

Ponderosa 3 13.0% 23 695 -11% 858 -24% (220) -723% 58 87 13.3% 5.0% 3.9%

Silvian 32 1,252 -1% 777 32% 163 190% 33 94 0.0% 4.1% 4.2%

Unity Village 2 6.7% 30 837 -5% 883 -4% (83) -6454% 11 228 6.9% 5.5% 5.4%

Lynn Total 9 3.4% 263 1,090 -2% 755 -9% 69 -3% 31 95 3.5% 3.3% 3.3%Berneva 12 824 0% 800 -13% (69) -335% 0 0 0.0% 0.1% 0.8%

Brewster 3 8.6% 35 747 -7% 497 8% 187 -6% 0 152 8.6% 4.3% 3.8%

Broadway Crossing 2 4.5% 44 749 -17% 1,070 -30% (461) -687% 15 65 15.8% 4.5% 3.2%

Haines AAA 30 988 2% 632 15% 126 1199% 6 161 0.0% 5.1% 3.8%

Jefferson Housing 40 1,173 2% 865 -14% 192 863% 28 90 0.0% 3.7% 4.2%

Oleta 6 17.6% 34 691 -17% 653 -10% (218) -863% 29 120 17.8% 9.8% 8.4%

Pantages 2 4.1% 49 847 -3% 826 -2% (216) -144% 43 123 4.9% 3.7% 3.3%

Twelfth Avenue Arts 2 2.3% 88 1,006 -1% 478 5% 159 8% 17 40 2.3% 1.7% 1.7%

Nelda Total 15 4.5% 332 901 -5% 700 5% (21) -164% 23 88 5.7% 3.7% 3.4%Boylston Howell 1 3.3% 30 912 -7% 800 -9% 84 -61% 13 64 5.8% 1.8% 1.3%

Bremer 4 8.2% 49 750 -6% 376 30% 185 134% 30 139 8.0% 6.4% 5.9%

Centennial 1 3.3% 30 1,006 -4% 487 15% 170 31% 13 77 3.5% 6.0% 6.3%

Devonshire 1 1.6% 62 825 1% 630 -6% (89) -205% 13 65 1.8% 2.8% 2.7%

Fleming 1 2.8% 36 801 -1% 659 -17% (229) -526% 17 83 5.8% 3.8% 4.0%

Fremont Solstice 1 5.6% 18 925 -5% 528 27% 84 388% 16 64 5.1% 2.8% 2.4%

Gilman Court 25 1,073 -6% 506 51% 513 642% 0 0 0.0% 0.0% 0.0%

John Carney 1 3.7% 27 720 -4% 464 19% 128 175% 18 80 3.0% 1.4% 1.1%

Larned 33 873 -7% 557 10% 261 -2% 23 65 4.0% 2.6% 2.3%

Melrose 1 3.3% 30 778 -2% 615 -15% 57 -62% 12 75 2.5% 3.3% 3.5%

Villa 62 1,037 -3% 711 -9% 3 -97% 12 59 0.0% 0.9% 1.0%

Skye Total 11 2.7% 402 880 -4% 586 -7% 78 -21% 18 82 3.5% 3.0% 3.0%Broadway 5 1,185 3% 681 17% 269 178% 0.0% 0.0% 0.0%

Burke Gilman Gardens 15 1,143 1% 582 23% (1,015) -404% 13 151 0.9% 5.7% 5.6%

Casa di Cinque 3 1,549 #DIV/0! 993 #DIV/0! 763 #DIV/0! 0 0 0.0% 0.0% 0.0%

Four Ten 6 735 -18% 672 1% (76) -194% 15 152 14.7% 6.9% 5.6%

Fredonia 12 2,143 -13% 979 10% 639 -26% 8 48 0.0% 1.7% 1.7%

Harrison at 15th 19 1,616 -18% 1,022 5% 27 -88% 0.0% 0.0% 0.0%

Lincoln Court 1 3.4% 29 853 -1% 609 -11% (138) -817% 36 120 3.5% 2.3% 2.2%

Maxwell 4 1,039 1% 749 2% 164 23% 0.0% 0.0% 0.0%

Miller Park 12 1,081 -1% 791 11% 62 393% 13 39 0.3% 2.6% 2.6%

Seneca 32 935 0% 902 9% (129) 40% 67 167 0.8% 1.4% 1.3%

Squire Park Plaza 3 5.0% 60 1,668 1% 623 -3% 346 -1% 13 95 6.1% 6.8% 3.3%

Valencia Total 4 2.0% 197 1,322 -2% 745 -3% 52 -72% 18 97 3.2% 2.5% 2.4%

Portfolio Total 45 3.3% 1362 1,041 -3% 703 -2% 50 -51% 26 93 3.8% 3.4% 3.3%

1) After debt payments and reserve payments

2) Portfolio Manager averages are averages across all unit turns within portfolio and not averages across buildings

Physical Vacancy

(at month end) Economic VacancyOp Exp Per Unit Cash Flow Per Unit(1)

Op Rev Per Unit

M:\Admin\Board\PACKETS\2019 Packets\03.2019\Original Docs\Committee Reports\PM\January-2019-PM dashboard.xlsx

Page 56 of 70

Explanation of select properties with high vacancies or large vacancy increases:

Bremer - four vacancies in Jan. (two are hard turns)

Brewster - three vacancies in Jan.

Broadway Crossing - two vacancies in Jan. (one a 2-bdr unit with higher rent). Each unit received a $100 rent concessions due to elevator outage

Joe Black - four vacancies in Jan.; two 3-bdr and two 2-bdr units with higher rents. One requires extensive maintenance repairs and clean up.

Oleta - six vacancies Jan. Three vacancies related to rodent infestation

Ponderosa - three vacancies in Jan. (one was hard turn due to water damage). Waitlist challenges

2.8%

3.8%

3.0%

4.7%

4.1%

3.8%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

2/28/2018 3/31/2018 4/30/2018 5/31/2018 6/30/2018 7/31/2018 8/31/2018 9/30/2018 10/31/2018 11/30/2018 12/31/2018 1/31/2019

Monthly Vacancy Rate: February 2018 - January 2019

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

January February March April May June July August September October November December

Monthly Vacancy Comparison: 2017 - Present

2017 Vacancy 2018 Vacancy 2019 Vacancy

M:\Admin\Board\PACKETS\2019 Packets\03.2019\Original Docs\Committee Reports\PM\January-2019-PM dashboard.xlsx

Page 57 of 70

MSP Capital/Maintenance Project Report January 2019

Page 1 of 2

Elizabeth James Water Savings Project

• Scope – Replace all toilets, aerators, and shower heads for water conservation.

• Status – Reschedule for march. Additional toilet bowls need to ordered.

12th Ave Arts Theater Lobby Acoustics Project

• Scope – Install carpet, acoustic panels, and door seals.

• Status – Painting, carpet, and acoustic panels installed. Door sweeps to be installed mid Feb 2019.

Oleta Projects

• Apt 201/202 Renovation – Demo and reconstruct after rodent inspection and eradication. - Status – Demo complete. Start

construction by Feb 2019.

• Front Entry Hand Rail Installation (life/Safety issue). - New rails to be installed mid March.

Broadway Crossing Paint Project

• Scope – Repaint front canopy, resident deck structures, and trim.

• Status – Design completed. Bid next spring.

Gilman Ct Sidewalk Repair Project

• Scope – Repair/Replace damaged sections of sidewalk.

• Status – Design complete and permit ready. Bid in Jan for work Feb 18-22.

Fredonia Water Heater Replacement Project

• Scope – Replace existing gas water heater and associated piping and reinsulate tank and piping.

• Status – Developing scope of work and send for bids mid March. Tested for asbestos. No asbestos found.

Cal Anderson Sprinkler Head Replacement Project

• Scope – Replace recalled sprinkler heads throughout bldg.

• Status – Work completed. Park Hill Water Damage Restoration Project

• Scope – Repair water damaged surfaces in apts 1, 4, 7, and the laundry room.

• Status – Received HAZMAT report. Bids due March 17.

Larned Sprinkler Head Replacement Project

• Scope – Replace recalled sprinkler heads throughout bldg.

• Status – Not started. Fleming Parapet Wall/Chimney Bracing Project

• Scope – Design and install bracing systems for URM bldg. construction.

• Status – Design in progress. Advertise for bids mid March.

Joe Black Indoor Air Quality Project

• Scope – Identify cause of indoor air quality issues, design and install mitigation measures.

• Status – Heat pump and bath fan projects are out for bids. Bids due Feb 5.

Page 58 of 70

MSP Capital/Maintenance Project Report January 2019

Page 2 of 2

12th Ave Arts Bldg Commercial Door Project

• Scope – Repair/replace exterior folding doors in commercial spaces.

• Status – ARC contracted to evaluate systems and provide bid documents. Expect work to commence July 2019.

Lincoln Ct Structural Repairs

• Scope – Install post/beam connectors in basement.

• Status – Design complete. Bids due Feb 5.

Masonry Evaluation at 4 Buildings

• Scope – Evaluate condition of masonry in response to Office of Housing inspection items. Fleming, Oleta, Lincoln Ct., and Berneva.

• Status – Received reports. Union James Remodel Unit 105 (James) Project

• Scope – Address mold and rodent issues.

• Status – Demo scope to be developed and bid out in March. Added apt 207.

Fleming Cable TV Wiring Relocation Project

• Scope – Relocated cable TV wiring from exterior of building/repair wire molding.

• Status – After masonry evaluation. Oleta Cable TV Wiring Relocation Project


• Status – After masonry evaluation. Lincoln Ct. Cable TV Wiring Relocation Project


• Status – After masonry evaluation.

Berneva Cable TV Wiring Relocation Project


• Status – After masonry evaluation. Berneva Dormer Roof Repair Project

• Scope – Repair dormer roofs (4).

• Status – Not started. Union James REAC Repairs

• Scope – Various repairs.

• Status – In progress with completion of all items by May 30, 2019.

12th Ave Arts HVAC Issue Project

• Scope – Install enclosure around the heat pump units in P-2.

• Status – Bid out in Feb 2019.

Park Hill Masonry Repair Project

• Scope – Reinstall bricks on south elevation.

• Status – Bids due March 17..

Park Hill Water Damage Repair Project

• Scope – Repair water damaged sheetrock in units 1, 4, 7, and laundry room.

• Status – Contract awarded to Servpro. Start mid March. Asbestos permit required.

Page 59 of 70

March 2019 FUNDRAISING AND COMMUNICATIONS MEMORANDUM

To: Capitol Hill Housing Board of Directors CC: Christopher Persons From: Michael Seiwerath Grants and Donations In the last four weeks, an LOI to the JPMorgan Chase Foundation was approved. A second more detailed formal LOI is due to their national headquarters on March 6. At the suggestion of JPMorgan Chase staff we have requested $250,000. Grant proposals to Washington Women’s Foundation and People for Bikes were declined. In keeping with the Foundation’s 2019 workplan, staff continue to concentrate grant activity in Q1 and Q2 of this year. In the last 30 days, CHH Foundation staff has submitted the following proposals:

• King County WaterWorks - $100,000 in Support for Sustainability and Planning

• City of Seattle Dept. of Neighborhoods: Your Voice, Your Choice Parks & Streets - $30,000 for the improvement of public space on Capitol Hill

• City of Seattle Department of Neighborhoods: Community Partnership Fund - $25,000 for public life study of Capitol Hill

• Foss Maritime Company - $10,000 in support for Sustainability and Planning

• Wells Fargo Foundation - $10,000 for general operating

• Opus Bank - $10,000 for general operating

• Hugh and Jane Ferguson Foundation - $25,000 in support for Sustainability and Planning

• Bristol Myers Squibb company - $10,000 in support for Sustainability and Planning

• BlueScope Foundation - $5,000 in support for Sustainability and Planning

In addition to these new applications, proposals or LOI’s remain pending to the Satterberg Foundation, Union Bank, the Muckleshoot Charitable Fund, the Contorer Foundation, 4Culture, The Mark Torrance Foundation, The Moccasin Lake Foundation, and others. Rise Together Capital Campaign Rise Together has officially raised our goal to $25M, after receiving affirmative votes from both the CHH PDA and Foundation Boards in January and February. Recent grant and donation activity includes:

• We received confirmation of a $250,000 individual pledge to the entire Rise Together campaign. (This brings campaign individual giving to an impressive $909,242!)

Page 60 of 70

• We submitted a proposal for $100,000 to the USA Today charitable giving program to support the Capitol Hill Arts Stabilization Fund.

• Unfortunately, a $500,000 proposal to the Kresge Foundation’s competitive new Next Generation Initiative to support capacity-building for the White Center partners’ human services programs has been declined.

Proposals still pending include a $120,000 NEA creative placemaking grant to support the CH Arts Stabilization Fund; a $5M request for a local community project direct appropriation from the Washington State Capital Budget to support the whole campaign; and a $5M request to the Gates Foundation to support the whole campaign. A Ribbon Cutting Celebration for the Liberty Bank Building Saturday March 23, 2019 11:00 AM - 2:00 PM 1405 24th Ave in Seattle's Central District RSVP today! Africatown Community Land Trust, the Black Community Impact Alliance, Byrd Barr Place, and Capitol Hill Housing invite the community to celebrate with us as we open the historic Liberty Bank Building on Saturday March 23, 2019. This glorious new building, built on the site of the first African American-owned bank in the Pacific Northwest, provides 115 new affordable homes, and affordable retail space for three local minority-owned businesses. The Liberty Bank Building was created through the dedication and support of many community members and organizations with deep roots in Seattle’s Central District. The celebration will reflect our community by bringing together the neighbors, friends, artists, business owners and community leaders who have contributed to the success of this momentous project. Speakers and performers from the community begin a brief program promptly at 11:30. With live music and performances, and food for all attendees. Guided tours of the Liberty Bank Building will take place in the last hour of the event. Limited slots available - click here to sign up for a tour today. To RSVP please visit http://bit.ly/LBB-2019. Individual Giving Our annual donor thank you event was held on February 5th at the Bullitt Center. The event was held during the snowstorm, so we had a predictably high rate of no shows and day-of cancellations, but were still pleased to have 51 guests in attendance, with high turnout from our partner organizations. The individual giving committee is meeting to discuss the most effective ways to thank donors.

Page 61 of 70

http://bit.ly/LBB-2019

https://goo.gl/forms/aCyO4z3FLFdXVPWy1

http://bit.ly/LBB-2019

Events The date of Top of the Town remains to be determined, awaiting confirmation from our keynote speaker. Sponsorship opportunities are available at most levels. Board members with an interest in sponsoring the event, or those who have connections with organizations that may be interested, should be in touch with Joshua Okrent, [email protected]. To date, $60,000 in sponsorship has been secured. Omnivorous is confirmed for Thursday October 10 at Washington Hall in the Central District. The Capitol Hill Housing Foundation has contracted with Grace Rooney to serve as our Event Coordinator once again in 2019. Optimism Brewing hosted their third anniversary party, requesting donation to benefit CHH. $3,204 was donated as a result of the event. $1,145 was raised through raffles with the rest coming from a cut of the beer proceeds from the event. We are hoping to continue to grow this partnership. Communications February's snowstorm brought ad hoc support work alongside inspiringly organized and effective action (for resident-centered care!) on the part of Property Management and leadership. We joined the rest of the Foundation Team in supporting the Donor Thank You event at Bullitt Center on Lunar New Year (2/5), with a solid turnout of our supporting partners --given the snow and icy sidewalk conditions. Since late January, our team has been supporting Top of the Town marketing efforts (event early May), Mandatory Housing Affordability queries and needs with the S&P Team, EcoDistrict annual report creation, and ramped up media-related support for the March 23rd LBB Ribbon Cutting Celebration and related activities. The Communications Team is also working hard to make time to create a base of analysis and shared understanding across the team for increasingly effective marketing strategies, an effort which can often be eclipsed by more project-driven deadlines but was identified as a priority in the 2019 work plan. In a very thoughtful and frank conversation with Crosscut Group members late February, it was determined that in order to build appropriate levels of trust through a genuine process of outreach and engagement, it was critical to expand the current rebrand timeline. Current projections indicate an exit from the Key Messaging phase in May.

External coverage of CHH mentions stayed around the same levels as January, many focusing on work

with our partners in the Central District, Mandatory Housing Affordability, and art openings. For a

sampling of the Resident Services newsletter CHH Connected, led by the Resident Services Program and

supported by our Communications Associate, see the March edition archived online. It currently has 226

subscribers and features a wide variety of resources from building event listings to job openings.

Page 62 of 70

mailto:[email protected]

https://mailchi.mp/8da9b98cca42/resident-newsletter-1654701?e=4c3d0989c6

Date Article Title Outlet

2/1/2019 Earl’s Cuts and Styles making temporary move before new life in Liberty Bank Building

CHS Blog

2/2/2019 37 Black History Month 2019 Events in Seattle-- Performances, Movies, History Lessons, and More

The Stranger

2/4/2019 Housing Developments: Love is in the air, and so is advocacy! (Citylab article citation)

Housing Development Consortium

2/7/2019 Pressure mounts as Seattle mulls options for senior centers, food bank on valuable city properties

The Seattle Times

2/6/2019 Opening night of Intiman Theatre's production of CAUGHT EventBrite

2/6/2019 Valentines for Housing Affordability EventBrite, The Stranger

2/7/2019 EcoDistricts #NeighborhoodsForAll - Our First five Years 2013-2018

ecodistricts.org

2/12/2019 Central District e-bike showroom Electric Lady shutting down

CHS Blog

2/12/2019 93 Stranger (Than Usual) Things To Do in Seattle This Week: Feb 12-17, 2019

The Stranger

2/13/2019 [LinkedIn Post] Vice President of Property Operations LinkedIn

2/19/2019 Currant Opens in Belltown and More Seattle Food News You Can Use: Feb 15, 2019 Edition

The Stranger

2/18/2019 Black History Month events and celebrations KIRO 7

2/14/2019 A Quirky, Compassionate (Almost) Silent Play Announced At Thalia's Umbrella

Broadway World

2/15/2019 Last-Minute Plans: 59 Free, Cheap & Easy Things To Do in Seattle This Week: Feb 15-17, 2019

The Stranger

2/15/2019 When the show cannot go on: Seattle theaters reckon with cost of snow

The Seattle Times

2/19/2019 Capitol Hill’s upzoning on track to stay intact as Mandatory Housing Affordability enters final stretch

CHS Blog

2/22/2019 Tabor 100 - Vision Becomes Reality February 2019 Newsletter - Capitol Hill Housing

Tabor 100 Newsletter

2/25/2019 What is Africatown? Africatownseattle.com

2/27/2019 City officials say electric vehicle charging station won’t pit Teslas vs. bikes on Broadway

CHS Blog

2/27/2019 Wyking Garrett Speaks On Africatown, Black Founders Of Washington State and Dem Deception

Fiwi Business (video)

Page 63 of 70

http://www.capitolhillseattle.com/2019/02/chs-pics-earls-cuts-and-styles-making-temporary-move-before-new-life-in-liberty-bank-building/

http://www.capitolhillseattle.com/2019/02/chs-pics-earls-cuts-and-styles-making-temporary-move-before-new-life-in-liberty-bank-building/

https://www.thestranger.com/things-to-do/2019/02/01/38488176/37-black-history-month-2019-events-in-seattle

https://www.thestranger.com/things-to-do/2019/02/01/38488176/37-black-history-month-2019-events-in-seattle

https://www.citylab.com/transportation/2019/01/link-light-rail-affordable-capitol-hill-housing-seattle/581296/

https://www.citylab.com/transportation/2019/01/link-light-rail-affordable-capitol-hill-housing-seattle/581296/

https://www.seattletimes.com/seattle-news/politics/seattle-mulls-options-for-seniors-centers-food-bank-on-valuable-city-properties/

https://www.seattletimes.com/seattle-news/politics/seattle-mulls-options-for-seniors-centers-food-bank-on-valuable-city-properties/

https://www.eventbrite.com/e/intiman-theatres-caught-opening-night-tickets-55982003680

https://www.thestranger.com/events/38894398/valentines-for-housing-affordability

https://ecodistricts.org/wp-content/uploads/2019/02/F-Impact-report-2018.pdf?

https://ecodistricts.org/wp-content/uploads/2019/02/F-Impact-report-2018.pdf?

http://www.capitolhillseattle.com/2019/02/central-district-e-bike-showroom-electric-lady-shutting-down/

http://www.capitolhillseattle.com/2019/02/central-district-e-bike-showroom-electric-lady-shutting-down/

https://www.thestranger.com/things-to-do/2019/02/12/38860914/93-stranger-than-usual-things-to-do-in-seattle-this-week-feb-12-17-2019

https://www.thestranger.com/things-to-do/2019/02/12/38860914/93-stranger-than-usual-things-to-do-in-seattle-this-week-feb-12-17-2019

https://www.linkedin.com/jobs/view/vice-president-of-property-operations-at-capitol-hill-housing-1116685527

https://www.thestranger.com/things-to-do/2019/02/15/38969954/currant-opens-in-belltown-and-more-seattle-food-news-you-can-use-feb-15-2019-edition

https://www.thestranger.com/things-to-do/2019/02/15/38969954/currant-opens-in-belltown-and-more-seattle-food-news-you-can-use-feb-15-2019-edition

https://www.kiro7.com/community/black-history-month-events-and-celebrations/516977251

https://www.broadwayworld.com/seattle/article/A-Quirky-Compassionate-Almost-Silent-Play-Announced-At-Thalias-Umbrella-20190214

https://www.broadwayworld.com/seattle/article/A-Quirky-Compassionate-Almost-Silent-Play-Announced-At-Thalias-Umbrella-20190214

https://www.thestranger.com/things-to-do/2019/02/15/38938906/last-minute-plans-59-free-cheap-and-easy-things-to-do-in-seattle-this-week-feb-15-17-2019

https://www.thestranger.com/things-to-do/2019/02/15/38938906/last-minute-plans-59-free-cheap-and-easy-things-to-do-in-seattle-this-week-feb-15-17-2019

https://www.seattletimes.com/entertainment/theater/when-the-show-cannot-go-on-seattle-theaters-reckon-with-cost-of-snow/

https://www.seattletimes.com/entertainment/theater/when-the-show-cannot-go-on-seattle-theaters-reckon-with-cost-of-snow/

http://www.capitolhillseattle.com/2019/02/capitol-hills-upzoning-on-track-to-stay-intact-as-mandatory-housing-affordability-enters-final-stretch/

http://www.capitolhillseattle.com/2019/02/capitol-hills-upzoning-on-track-to-stay-intact-as-mandatory-housing-affordability-enters-final-stretch/

https://www.tabor100.org/tabor-100-february-2019-newsletter/

https://www.tabor100.org/tabor-100-february-2019-newsletter/

https://africatownseattle.com/articles/0219/what-is-africatown.html

http://www.capitolhillseattle.com/2019/02/city-officials-say-electric-vehicle-charging-station-wont-pit-teslas-vs-bikes-on-broadway/

http://www.capitolhillseattle.com/2019/02/city-officials-say-electric-vehicle-charging-station-wont-pit-teslas-vs-bikes-on-broadway/

http://fiwibusiness.com/blog/2019/02/27/wyking-garrett-speaks-on-africatown-black-founders-of-washington-state-and-dem-deception/

http://fiwibusiness.com/blog/2019/02/27/wyking-garrett-speaks-on-africatown-black-founders-of-washington-state-and-dem-deception/

2019 Capitol Hill Housing Budget and Actuals

Updated March 5, 2019

Unrestricted Budget Income Source 2019 Goal 2019 Actual % to Goal

Government $ 12,500 $ - 0.0%

Foundation $ 257,788 $ 79,961 31.0%

Corporate $ 190,000 $ 18,562 9.8%

Individual $ 210,000 $ 109,979 52.4%

Events & Sponsorships $ 234,000 $ 88,000 37.6%

TOTAL $ 904,288 $ 296,502 32.8%

Restricted Budget

Income Source 2019 Goal 2019 Actual % to Goal

Government $ 0 $ 0.0%

Foundation $ 20,000 $ 46,759 233.8%

Corporate $ 0 $ 0.0%

Individual $ 25,000 $ 0.0%

Events & Sponsorships $ 0 $ 0.0%

TOTAL $ 45,000 $ 46,759 103.9%

Combined Budgets (Restricted & Unrestricted)

Income Source 2019 Goal 2019 Actual % to Goal

Government $ 12,500 $ 0.0%

Foundation $ 277,788 $ 126,720 45.6%

Corporate $ 190,000 $ 18,562 9.8%

Individual $ 235,000 $ 109,979 46.8%

Events & Sponsorships $ 234,000 $ 88,000 33.3%

TOTAL $ 964,288 $ 343,823 36.2%

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MARCH 2019 PROPERTY DEVELOPMENT BOARD REPORT AND MINUTES Property Development Committee Members: Dana Behar, Rachel Ben-Shmuel, Andrew Brand, Paul Breckenridge, Liz Dunn, Bob Fikso Staff Liaisons to the Board: Chris Persons, Jill Fleming, Jeremy Wilkening, Walter Zisette Date, time and location of meeting: March 5th, 2019 5:30-6:30 pm Belmont Conference Room Date, time and location of next meeting: April 2nd, 2019 5:30-6:30 pm Belmont Conference Room The PDC discussed the three Capitol Hill projects – Annex, Eldridge, and U14. For U14, the Committee discussed how the new construction could support the long-term sustainability of the existing Helen V. The Committee then discussed early ground floor programming for the project. Walter and Jeremy discussed the challenges of fitting all the back of house, community space, and services in the footprint and fit commercial space as recommended by 12 Ave Stewards. A suggestion from the committee was focus commercial on the corner of 14th and Union, and if it’s needed for service space, consider a similar model that Gay City did with the café on Pike St. It will be important that this corner has flexibility to be converted to more traditional retail with a look that matches the other corners of the block. Liz is open to meeting with the architects and discuss it more. Then the Committee discussed options that would long term preserve the Helen V as affordable housing in conjunction with the new construction. There wasn’t support for combining the two (new and rehab) into one project because of the difference in tenants but was supportive of the idea of some of the funds from sale going to a reserve for the Helen V rehabilitation as well as a seller note that could pay into this reserve in future years. For the Annex, Jeremy and Walter updated the group on progress and board action that’s expected in April. The Committee stressed the importance of creating a master plan that addresses how the two buildings work together and the preservation of the Booth Building. The Committee suggested staff investigate the benefits of landmarking the Booth Building, including potential reduced property taxes. Finally, Jeremy updated the board on progress on the Eldridge, which is working towards agreement on the many purchase documents with Sound Transit and intending to reapply for OH funding in the fall.

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Community Development Committee March 2019 Report

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FEBRUARY 2019 COMMUNITY DEVELOPMENT COMMITTEE BOARD REPORT Committee members: Derrick Belgarde, Rachel Ben-Shmuel, Sara Cubillos, Eric Snow, Rachael Steward Staff Liaisons to the Board: Alex Brennan, McCaela Daffern, Joel Sisolak The Community Development Committee last met on October 4th. During the few months, staff continued to advance projects and finalized our 2019 work plan. Other recent highlights outlined below. Next meeting: March 21, 2019, 1pm, 12th Avenue Arts, 1620 12th Ave, Seattle Staffing Transition: Steven Sawada has left employment with Capitol Hill Housing for a position with the

City of Tacoma. There is no immediate plan to refill the Community Liaison position.

Mandatory Housing Affordability (MHA): MHA is the cornerstone of the Housing Affordability and

Livability Agenda (HALA) originally put forward under the Ed Murray Administration. MHA is an

inclusionary zoning schema designed to increase the availability of affordable housing by triggering

upzones that would increase density in urban villages. The Capitol Hill Renter Initiative has been

supporting MHA for years now, advocating for upzones and other tools to increase density and access to

affordable housing in a neighborhood where 80% of residents are renters.

The City Council’s Select Committee on Citywide Mandatory Housing Affordability hosted another public

hearing on February 21, the latest in a series of fierce public debates on the merits of MHA and a host of

proposed amendments. CHH has supported MHA and opposed amendments that we believe would

weaken the policy. McCaela Daffern gave testimony at a hearing in January.

On February 25, the city council passed the plan out of committee on a unanimous vote. The final

legislation includes a “clawback” provision that states the council’s intent to invalidate any upzones

implemented under the plan if a court finds MHA’s affordability requirements invalid in the future. The

full council is expected to approve the final plan on March 18.

Olympia Forum: On March 14, Joel Sisolak will headline a community forum in the downtown

neighborhood of Olympia, Washington. At the event presented by the Northwest EcoBuilding Guild and

Olympia Federal Savings, Joel will provide an overview of the EcoDistrict Protocol and describe the

evolution of the Capitol Hill EcoDistrict as a model for community development. Following Joel’s talk, local

stakeholders will facilitate a “community conversation” about launching a new ecodistrict in the heart of

the capital city. Olympia is one of several places, along with Tacoma, Bellevue and Seattle, where CHH

staff is supporting the emergence of new ecodistricts. CHH is negotiating a partner agreement (MOU) with

EcoDistricts in Portland to share in this work and collaborate on joint fundraising.

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Community Development Committee March 2019 Report

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U14 Update: Plans continue to evolve for LGBTQ Welcoming Housing for Seniors next to the Helen V.

The CHH Sustainabiity and Planning team is supporting the Property Development team with community

engagement related to this project. At their monthly meeting on February 21, leaders from various LGBTQ

organizations discussed programming for the ground floor of the project. Project Architect Freya Johnson

presented some early concept drawings to show how the space might be divided among office space for

Gen Pride, community space, flexible office space and utilities. The group plans to visit with Mayor Durkan

to express strong community support for this long-awaited project.

Support for Lowell Elementary: This month, the S&P team supported a funding application for

developing a School-based Health Center at Lowell Elementary School. The clinic would be run by Country

Doctor and serve the school’s students and their families.

A School Based Health Center (SBHC) is exactly as the name implies: the center for health in a local school.

They can provide a range of services, including primary medical care, mental/behavioral health care,

dental care, health and nutrition education, etc.

Lowell Elementary School serves a large number of very vulnerable kids. 67 percent qualify for free or

reduced-price lunches, 25 percent are currently experiencing homelessness, and 30 percent receive

special education services, including including roughly 10 students who have very high levels of medical

need caused by rare medical conditions. 24 percent of the students are English Language Learners. 79

percent of Lowell students are non-white and 24 percent are English Language Learners. Currently, Lowell

families have difficulty accessing counseling and medical services due to health and transportation

barriers. The school believes that by offering on-site health services to whole families, they will improve

families’ health and remove barriers to educational success faced by many of their students.

Last June, the CH EcoDistrict hosted a forum with Lowell and other education leaders on how we might

support education success in the neighborhood. Successive discussions pointed to the need to address

the health needs of students and then to this application. Lowell submitted the application to Kaiser

Permanente with Country Doctor. CHH provided a letter of support.

Pesticide Free Park: CHH and the EcoDistrict are collaborating with multiple public and private partners

to improve the health of Cal Anderson Park and secure its designation as a “Pesticide Free Park.” We

intend to build from this designation to encourage healthy landscaping practices throughout the

EcoDistrict and develop a habitat corridor on 11th Avenue that connects Cal Anderson Park with Volunteer

Park. We’ve submitted joint funding applications with Seattle Audubon and the Northwest Center for

Alternatives to Pesticides (NCAP). NCAP has existing funding that will support a community education

event in Cal Anderson Park in the summer.

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Executive Committee Minutes March 2019

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MARCH 2019 EXECUTIVE COMMITTEE BOARD REPORT AND MINUTES Executive Committee Members: Robert Schwartz (Chair), Shalimar Gonzales (Vice Chair) (via phone), Frank Alvarado (Treasurer), Derrick Belgarde (Secretary), Cathy Hillenbrand (Immediate Past Chair) Staff Liaisons to the Board: Chris Persons, Sarah Shoemake (taking minutes) (BOLD indicates those members in attendance) Date, time and location of meeting: Monday, February 25, 2019 - 5-6:30pm - Belmont Conference Room Date, time and location of next meeting: Monday, March 25, 2019 - 5-6:30pm - Belmont Conference Room Minutes Meeting began at 5:03pm 1. Development and Acquisitions

a. LGBTQ Senior Housing: Chris updated the Committee on the commercial aspect of the project as well as the overall status.

b. Liberty Bank Building (LBB) lease up update and grand opening: Chris updated the Committee on the LBB lease up process. He reminded the group that the grand opening celebration is scheduled for Saturday, March 23rd. The Committee requested that the March Board meeting include an update on the process and status.

2. Lead Items

a. Property Management Action Plan (PMAP): Chris reviewed the PMAP outlining Department progress, noting that this is a working document and will be presented on further in the future.

b. Systems Change at CHH: Chris discussed the bigger picture of how the organization communicates the need to make changes, with a sense of urgency, as well as hope. He noted that this work will be helpful for strategic planning and the annual Board Retreat. The Committee discussed ways to touch on organizational health at Board meetings. There might be quarterly Board meeting updates on organizational health.

3. External Relations, Community Programs, Board Issues

a. Board Resolutions: Chris reviewed the draft March Board Agenda, noting there currently aren’t any resolutions for consideration.

b. Board Development: Chris updated the Committee on potential Board member changes and candidates. He also mentioned that the Charter allows the Board to create additional Officer positions. This will be pertinent, later this year when former Vice Chair Drew Porter returns to the Board from

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Executive Committee Minutes March 2019

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his leave of absence. The current proposal is to have two Vice Chairs; Shalimar and Drew. This idea as well as the succession of Officers to the Chair position will be further discussed.

c. CHH Joint Board Retreat: Chris expressed a desire to reschedule the Joint Board Retreat until later in the year, so that the strategic planning discussion will be the most fruitful. The Retreat will potentially take place this Fall, rather than early Summer.

4. Other a. CEO Review: Per RCW 42.30.110(g), the Committee entered into an executive session to evaluate

the qualifications of an applicant for public employment or to review the performance of a public employee. The session began at 6:07 pm. The Committee exited the executive session at 6:35 pm.

Meeting ended at 6:35pm.

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MARCH 2019 JOINT BOARD DEVELOPMENT COMMITTEE BOARD REPORT AND MINUTES Joint Board Development Committee Members: Margaret Pak Enslow (Foundation Secretary), Shalimar

Gonzales-Committee Chair (PDA Member), Cathy Hillenbrand (PDA Member), Alice Quaintance (Former

PDA Member), Randy Robinson (Foundation Member)

Staff Liaisons to the Board: Michael Seiwerath, Sarah Shoemake

Date, time and location of meeting: n/a

Date, time and location of next meeting: March 27, 2019 – 4-5pm – Belmont Conference Room

The Joint Board Development Committee did not meet since the last full Board meeting. During the month, the Committee continued to advance its ongoing projects, including:

Board Development

a. Foundation Board: Staff are moving forward with potential candidates.

i. April Elections: Michael and Sarah will work on recruitment for openings in the April

election.

b. PDA Board: Staff are moving forward with potential candidates.

c. Emerging Leader Mentor: Sarah has moved forward with connecting PDA Emerging Leader

Fellow, Sara Cubillos, with a mentor from the PDA Board.

d. Board Member Orientation: Sarah worked on scheduling an orientation for new members, as

well as a Board Member survey.

Social Event Ideas

a. Board Book Club: Sarah emailed both Boards inviting them to one of two event dates for Joint

Board Book Clubs, hosted by Alice, regarding recently gifted book The Color of Law, and will assist

Alice with coordination of the events.

i. LISC Institute Webinar on the Color of Law: There is a free webinar on Monday, March

11th at 11am which was shared with Board members. You may register here.

b. Building Tours

i. Liberty Bank Building Grand Opening: The Grand Opening Celebration is scheduled for

Saturday, March 23rd and all Board members are encouraged to attend.

ii. Summer Building Tours: Sarah will work on scheduling additional buildings tours closer to

Summer.

c. Joint Board BBQ: Sarah continued to work on scheduling the BBQ and obtaining a host.

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https://lisc.webex.com/mw3300/mywebex/default.do?nomenu=true&siteurl=lisc&service=6&rnd=0.6363210281003783&main_url=https%3A%2F%2Flisc.webex.com%2Fec3300%2Feventcenter%2Fevent%2FeventAction.do%3FtheAction%3Ddetail%26%26%26EMK%3D4832534b00000004d9c0f485b1f9bcac99a0023a73fd0b2c68104145ee4d3add6fced82db556667d%26siteurl%3Dlisc%26confViewID%3D118111630811737994%26encryptTicket%3DSDJTSwAAAASj-2uA3VMkc_kYMYl1EsuCsQx1Bw2TNpPihhhSb2lEzQ2%26

Documents

19 CHH Board Meeting March - Capitol Hill Housing...and people are moving in. LOI’s have been signed for all three commercial spaces and the grand opening celebration is scheduled