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OCOA SENIOR HOUSING MANAGEMENT

ANNUAL REPORT 2017

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TABLE OF CONTENTS

Contents

Volunteers 3

Financial Summary 4

Revenue and Expenses 5

Demographics/Income 6

Demographics/Rents 7

Demographics/Ages 8

Retention/Waitlist and Trends 9

Retention/Waitlist and Trends 10

Strategic Initiatives/ Kissimmee Properties 11

Strategic Initiatives/ St Cloud Properties 12

Staffing and Current Housing Board of Directors 13

In this report you will see abbreviations for each property. The key for those is

as follows:

OLL is Oak Leaf Landings, Phase I

KOLL is Kissimmee Oak Leaf Landings, Phase II

NSP is Neighborhood Stabilization Program (this was the original funder)

STCV is ST Cloud Villas, Phase I

STCVII is St Cloud Villas II, Phase II

TM is Tracey Manor

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VOLUNTEERS

Our Kissimmee Properties had 7 events comprised of 263 volunteers for a total of 1,235 hours.

The volunteers came from our partners: United Way, SDA High School from Puerto Rico, City of

Life Church, Keystone Healthcare, Residents, Disney, Lowes, Aetna, UF extension Services and

Florida Hospital. These volunteers gardened, cleaned, painted, pressure washed, built a fence

around the garden area and companioned our seniors. Our community partners donated in excess

of $5,000.00 to complete these projects.

We had one group of volunteers participate in an activity at our Tracey Manor property. This

group was comprised of 25 volunteers for a total of 125 hours. These volunteers came from

United Way and NAMFS (National Association of Mortgage Field Services). This group had a

HUGE impact on this property; they trimmed trees and low lying branches in preparation for

Hurricane Irma which was coming within 2 days of this event. NAMFS donated around $2000.00

for mulch along with a donation to complete further enhancements after the storm.

OLL fence and gardening event

TM tree trimming event

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FINANCIAL SUMMARY

Annual Management Fees

Kissimmee Oak Leaf Landings, $60,000

Oak Leaf Landings, $237,821.76

Tracey Manor, $21,498

St Cloud Villas, $53,883.98

St Cloud Villas II, $199,823.36

NSP, $10,685.04

Total annual revenue from Housing Management Fees, $583,712.14

These amounts change annually according to the rent increases and change in budgets

Total Potential Rental Revenue from the above COA properties is, $1,192,872.00

Kissimmee Oak Leaf Landings (partnered with Leland Enterprise Inc.) rental revenue is

$580,536.00

St. Cloud Villas, Phase I received a one-time HOME grant from Osceola County in the amount

of $247,916.00. This grant covered the addition of parking spaces, the re-pavement of the parking

lot, new roofing on all 7 buildings, new re-piping of all the plumbing pipes, new water heaters,

and the replacement of the wood on all the ends of buildings and gabled areas.

10%

41%

4%

10%

34%

1%

Percent Revenue From Management Fees

KOLL

OLL

TM

STCV

STCV II

NSP

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REVENUE AND EXPENSES

. **St Cloud Villas revenue and expenses were inflated by $247,916 due to a one time grant with Osceola County.

$459,364

$406,727

$425,103

$72,111 $60,571

Revenue

OLL STCV STCVII TM NSP

$446,582

$379,451

$413,858

$86,442 $37,142

Expenses

OLL STCV STCVII TM NSP

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DEMOGRAPHICS / INCOME

Kissimmee Properties Resident Income

St Cloud Properties Resident Income

$4,092 $7,210

$11,016 $12,060 $14,320

$30,631

$21,280

$49,079

$85,632

$0

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

$70,000

$80,000

$90,000

OLL Incomes KOLL Incomes NSP Incomes

Lowest

Average

Highest

$9,060

$4,680

$7,224

$13,669

$11,751$10,442

$24,097

$20,328

$25,272

$0

$5,000

$10,000

$15,000

$20,000

$25,000

$30,000

STCV Incomes STCVII Incomes TM Incomes

Lowest

Average

Highest

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DEMOGRAPHICS / RENTAL RATES

Kissimmee Properties Rental Rates

St Cloud Properties Rental Rates

$35

$330

$620

$489

$218

$544

$0

$533

$432

$727 $739

$589

$0

$100

$200

$300

$400

$500

$600

$700

$800

OLL Tenant Rents OLL Subsidy Rents KOLL Rents NSP Rents

Lowest

Average

Highest

$325

$30 $47

$301

$379$379

$78

$220

$503

$420

$500

$205

$422

$676

$490

$0

$100

$200

$300

$400

$500

$600

$700

$800

STCV Tenant

Rents

STCV Subsidy

Rents

STCV II Tenant

Rents

STCV II Subsidy

Rents

Tracey Manor

Rents

Lowest

Average

Highest

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DEMOGRAPHICS / AGES OF RESIDENTS

COA Housing Ages of Residents

OLL is a HUD PRAC 202 subsidized property that serves persons 62 years of age and older. This

property has 50 one bedroom, one bathroom units.

KOLL is a Low Income Housing Tax Credit property that serves persons 55 years of age and

older. This property has a total of 72 units; 48 one bedroom, one bathroom units and 24 two

bedroom, two bathroom units.

NSP is a low income HOME property that serves persons 62 years of age and over, persons with

disabilities and veterans. There are 10 homes under this program; 1 home two bedrooms, two

bathrooms, 7 homes are three bedrooms, two bathrooms, and 2 homes are four bedrooms, two

bathrooms.

STCV is a conventional property owned and operated by the Osceola Council on Aging. This

property serves persons 62 years of age or older and/or disabled. This property has 32 units made

up of 28 one bedroom, one bathroom and 4 two bedroom, one bathroom units.

STCV II is a HUD PRAC 202 subsidized property that serves persons 62 years of age and older.

This property has 50 one bedroom, one bath units.

TM is a HOME property that serves persons 62 years of age and older and/or disabled. This

property is 7 duplexes, 14 units all two bedroom, one bath units.

65

30

3

5761

55

78

69

55

7276

73

9894 93 92

97

88

0

20

40

60

80

100

120

OLL Ages KOLL Ages NSP Ages STCV Ages STCV II

Ages

Tracey Manor

Ages

Youngest

Average

Oldest

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RETENTION / WAITLIST AND TRENDS

Number of Move In’s and Move Outs 2016 in COA Housing

Number of Move In’s and Move Outs 2017 in COA Housing

4

13

1

6

8

2

0

2

0 0

1

0

4

13

1

6

7

2

0

2

4

6

8

10

12

14

OLL KOLL NSP STCV STCV II TM

Move In's

Transfers

Move Outs

4

10

1

9

6

2

0

2

0

1 1

0

4

8

1

8

6

2

0

2

4

6

8

10

12

OLL KOLL NSP STCV STCV II TM

Move In's

Transfers

Move Outs

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As the previous chart indicated on page 9, Kissimmee Oak Leaf Landings has more move ins and

outs than the other compared properties. This is due to two factors; first is this is our largest

property with 72 units, which makes the odds greater for more people to move. The second factor

is due to the ages of the residents. The residents at this property are 55 years of age or older and

most of them are still actively employed. This means as they gain or lose income they are more

likely to move.

The properties in general remain stable and consistent with the turnover numbers year to year.

This trend analysis helps us project the waitlist we maintain at each location. The waitlists for

each property are as follows:

Current Housing Waitlist/# of Applicant and # of Years

The waitlist for each property is extensive. The waiting lists for all the properties are closed with

the exception of KOLL. KOLL has the largest number of applicants, but at least 20-30 applicants’

cancel or decline annually allowing the waitlist to replenish. KOLL does not offer any subsidy;

therefore, applicants are not always willing to move and break a lease to pay a set amount of rent.

The benefit does not outweigh the expense of breaking a lease. The HUD properties do offer a

benefit of subsidy and when applicants are called they are more likely to move.

8

6.5

5

2

5

2

32

84

5

12

36

4

0 10 20 30 40 50 60 70 80 90

OLL

KOLL

NSP

STCV

STCV II

TM

# of Applicants

Years Wait

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STRATEGIC INITITIVES

Kissimmee Properties

Oak Leaf Landings

Oak Leaf Landings is currently working with the City of Kissimmee to obtain HOME

funds to enhance the building. The areas we will focus using these dollars are to update

and replace the flooring in the common areas and hallways on the second and third floors

of the building. We replaced the first floor flooring from carpet to hard wood about 3 years

ago. We would like to carry this flooring theme throughout the rest of the building. Instead

of using hardwood flooring we will use luxury vinyl plank flooring that looks like wood,

but has more durability.

Kissimmee Oak Leaf Landings

Kissimmee Oak Leaf Landings is currently working on replacement of the roofing on all

six buildings. This roofing is original and is now heading into year 18. Two of the roofs

sustained damage during Hurricane Irma; we are working with our partner, Leland

Enterprise Inc. to have the insurance pay for part of this replacement.

NSP

NSP 1 is the current inventory of housing we offer. These homes are doing well from both

a construction sustainability and tenant retention. NSP 3 is a program that has been in the

works for the last several years and is now coming to fruition. NSP 3 is currently under

construction; this will be a duplex with both units having 4 bedrooms, 2 ½ bathrooms and

a 2 car garage. They are located on King Street, by TOHO Water Authority. These units

will house families with children, which are homeless or at risk of being homeless. The

monthly rental rate will be $589. This project is expected to be completed mid-April 2018.

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STRATEGIC INITIVES

St Cloud Properties

St Cloud Villas I

St Cloud Villas I was awarded a grant from Osceola County in 2017 in the amount of

$247,916. This allowed St Cloud Villas to have much needed renovations to the parking

lot, roofing, plumbing and exterior wood repairs. We are committed to maintaining this

property as low income and will look for more funding to try and update the interior of the

units.

St Cloud Villas II

St Cloud Villas II is our newest building and has not had any significant capital issues to

address. The roof did sustain some damage during Hurricane Irma and we are working

with the insurance company to complete those repairs. We updated the lobby furniture

September 2017.

Tracey Manor

Tracey Manor was officially donated to the Osceola Council on Aging December 2017.

This is our oldest property in the COA Housing portfolio. Tracey Manor also has an

adjacent plot of land, which has +/- 5 acres. We will be exploring grant opportunities to

develop this parcel for more low income housing units. This property has received several

“mini” updates throughout the years and we will continue to look for funding to update

the property as needed. The roofs are 22 years old and original to the buildings. The roofs

sustained damage during Hurricane Irma; we are in the process of having all 7 buildings’

roofs replaced.

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STAFFING/ BOARD OF DIRECTORS

Kissimmee Properties

Property Manager, Yunior Hernandez- Yunior has been at the Kissimmee location for a year and

a half, but has been employed at the Council for over five years.

Service Coordinator, Ana Zaragoza- Ana has been the Service Coordinator for ten years.

St Cloud Properties

Property Manager, Nancy Vega- Nancy has been at the St Cloud location for a few months, but

has been with the Council for a couple of years.

Service Coordinator, Ana Calero- Ana Calero has been the Service Coordinator for ten years and

has been with the Council for over twelve years.

Director of Housing and Finance, Wendy Ford- Wendy has been with the Osceola Council on

Aging for 19 years.

Current Housing Board of Directors

Osceola Council on Aging Housing Board President, Patricia Scarborough

Osceola Council on Aging Housing Board Vice President, Chris Crockett

Osceola Council on Aging Housing Board Secretary, Cheryl Schoolfield

Osceola Council on Aging Housing Board Treasurer, Richard Jennings