Entity-Wide Annual Budget Fiscal Year 2020-2021
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TAMPA HOUSING AUTHORITY Entity-Wide Annual Budget Fiscal Year 2020-2021 May 20, 2020 2020-2021 ANNUAL BUDGET TABLE OF CONTENTS 1. Entity-Wide 7. Corporate Overhead…....................................................... 81 Budget Highlights and Assumptions…...........................3 Corporate Overhead Consolidated.................................... 82 Entity-Wide Annual Budget..........................................4 Corporate Overhead Departmental Detail…...................... 83 Entity-Wide Unit Count…........................................... 8 Salary and Benefits Comparison......................................... 84 Entity-Wide Map…..................................................... 10 Position Count by Department….......................................85 THA Entities Organizational Chart…............................ 11 Entity-Wide Salaries and Benefits Budget............................ 86 Historical Staffing Summary…............................................87 2. Rental Assistance Demonstration…................................12 Entity Wide Staffing Summary…........................................ 88 RAD History…….........................................................13 RAD Conversion Organizational Chart…......................14 8. Business Activities RAD Conversion Chart….............................................21 Palm Terrace Assisted Living Facility Budget…….................89 RAD Properties Budgets and Consolidated Budget……. 22 Palm Terrace Capital Improvements…............................... 92 Robles Park Budget and Capital Improvements……...... 24 Cedar Pointe Budget…...................................................... 93 JL Young Budget and Capital Improvements………...... 26 Cedar Pointe Capital Improvements…............................... 96 Arbors Estates Budget and Capital Improvements……...28 Cedar Pointe Phase II Budget…..........................................97 Azeele Budget and Capital Improvements……..............30 Cedar Pointe Phase II Capital Improvement….................... 98 Bay Ceia Budget and Capital Improvements………....... 32 St. Louis/St. Conrad Budget and Capital Improvements. 34 9. Blended Component Units SOHO Budget and Capital Improvements……..............36 North Tampa Housing and Development Corp. (NTHDC)…99 Seminole Park Budget and Capital Improvements….…. 38 NTHDC Budget…............................................................. 100 Moses White Budget and Capital Improvements…...…. 40 NTHDC Administrative Fee Projection...............................101 Squire Villa Budget and Capital Improvements…..….....42 Meridian River Development Corp. (MRDC)…….............. 102 Shimberg Budget and Capital Improvements……..........44 MRDC Capital Improvements…........................................ 105 C. Blythe Andrews Budget and Capital Improvements...46 River Place Budget & Capital Improvements…................... 106 Azzarelli Budget and Capital Improvements….............. 48 River Pines Budget & Capital Improvements…....................108 Scruggs Budget and Capital Improvements…….............50 Meridian Budget & Capital Improvements…...................... 110 RAD Rental Income and HAP Payments…....................52 THA Affordable Housing Development Corp. (AHDC)…... 112 RAD Estimated Replacement Reserves…...…............….54 RAD Budgeted Capital Improvements………................ 55 10. Related Entities The Gardens at South Bay….............................................. 114 3. Low Income Public Housing….......................................57 Osborne Landing…........................................................... 118 LIPH Budget Operating Statement…............................ 58 Belmont Heights…............................................................ 122 Oaks at Riverview…......................................................... 127 4. Assisted Housing…........................................................ 59 Ella at Encore….................................................................130 Voucher Program….....................................................60 Trio at Encore…................................................................132 Administrative Fees….................................................. 61 Reed at Encore….............................................................. 136 Subsidy and Landlord Payments/Equity Analysis……..... 62 Tempo at Encore…........................................................... 140 Fees and Transferred Items…....................................... 63 Voucher Program Unit Growth........…........................ 64 11. RAD Conversion Plan Summary….......................................144 History of Proration Levels.......................................... 65 Authorized Units Pie Chart…....................................... 66 12. West River Development Organizational Charts……........... 150 5. Programs and Property Services Summary…….............. 67 13. Encore District Organizational Chart…................................. 161 Program and Property Services Budget........……...........73 PPS Annual Events and Support…...............…….......... 74 14. Glossary of Terms….............................................................162 Oaks at Riverview Community Center…...................... 75 Boys and Girls Club…..................................................76 15. Resolution #2020-4162….................................................... 165 6. Capital Fund Program Grants….....................................77 Tampa Housing Authority 2020-2021 Budget Summary…....169 Historical Capital Grants…...........................................78 Multi-Year Capital Grants…......................................... 79 Capital Grant Funding by Year…................................. 80 Cultivating Affordable Housing While Empowering People and Communities Tampa Housing Authority 2020 - 2021 Annual Budget Budget Highlights and Assumptions 1. This document provides an entity-wide budget for the Tampa Housing Authority (“THA”). It includes all aspects of THA’s financial operations. 2. Through the redevelopment of the West River, THA has demolished a total of 670 units of the North Boulevard Homes. These units will be converted to RAD in different phases within the West River Development. The LIPH program had a portfolio of 3,073 units, from which 878 units are remaining and continue to get operating subsidies. THA is no longer receiving an operating subsidy for North Boulevard homes. 3. During 2016 the Tampa Housing Authority converted 1,073 units to the RAD Program. The following year 527 units were added to the program with the RAD Conversion of JL Young Gardens, with 32 RAD units at Ella, 32 units at the Trio, and 14 units at Reed. Currently, THA has converted 2,172 total RAD units. The THA manages 1,522 units under five LLC’s and a non-profit corporation. The RAD Program budget included on the Entity-Wide Budget has a total of $14.5M in revenue. $3.2 M is Tenant Rental, and $11.3M is Housing Assistance Payments (HAP). HAP increases every year based on the Operations Cost Adjustment Factor (OCAF). The 2020 OCAF is 2.3%. 4. The Assisted Housing Voucher program funding received is based on landlord payments that were made up to December 2019, reduced by an allocation factor. The Assisted Housing Department was a top performer qualifying the agency for full funding at 98%. For this period, the program is budgeted to receive $92.2M in subsidy based on a 10,746 voucher baseline. Administrative fees are budgeted at 78% of the earned fee rate and projected to total $7.2M. 5. Statewide Contract Administration for the Project-Based Contract (PBC), housed within the North Tampa Housing Development Corporation (NTHDC), is a blended component unit, has operated successfully over the last fourteen years. During this period, the program will earn $11.5M in Administrative fees, will manage $360M in assisted housing payments, and help 40,903 units in the state of Florida and the Virgin Islands. 6. The Salary Allocations and staffing levels based on actual employment allocations and information as of the end of February 2020. Known open positions were factored into each department/property budget. As such, the total salary and benefit expense projected for FY 2021 is approximately $16,630,648. 7. A cost of living, or merit raise, calculated at 3% was included within the 2020-2021 Budget. Additionally an average five percent (5%) increase in health insurance was also factored into the budget. Tampa Housing Authority 2020-2021 Entity-Wide Annual Budget Public Group Business Activities Program Assisted Oaks at Boys and Cedar Business Public and Housing Riverview Public Group Palm CO Girls Club Pointe Activities Housing Property Voucher Community Total Terrace Building Apartments Total Services Bs Program Center Revenues Net Rental Income $ - $ - $- $ - $ - $ - $ - $ 590 ,490 $ 946,418 $ 1,536,908 RAD Rent Payments - - - - - - - - - HUD Housing Assistance Subsidy - - - 92,225,966 - - 92,225,966 - HUD Subsidy (at 85% Funding Level) - - - - - - - 66,311 - 66,311 Funds from RAD Properties - - - - - - - Funds from NTHDC - - - - - - - Funds from HCV - - - - - - - 432,000 432,000 HUD Administrative Fee Income - - - 7,236,963 - - 7,236,963 - - Management Fees - - 4,148,909 - - - 4,148,909 - - Other Income - - - 41,976 40,000 25 ,000 106,976 574,000 574,000 Capital Fund - - - - - - - - - Total Revenues $ - $ - $ 4,148,909 $ 99,504,905 $ 40,000 $ 25,000 $ 103,718,814 656,801$ $ 1,952,418 $ 2,609,219 Expenses Administrative Salaries and Benefits