Affordable Housing Systems for Older Adults

Join us for a live and interactive discussion on the affordable housing system for older adults, the potential solutions, and what people can do right now. The United States is ill-prepared to adequately house and care for the growing number of older adults. Affordable housing expert Tony Bertoldi shares how affordable housing impacts us all, especially the elderly.

TONY BERTOLDI, AFFORDABLE HOUSING ADVOCATE & AUTHOR 

• https://tonybertoldi.com/
  

Chat Transcript

12:07:27     From Steve Gurney - ProAging Community : TONY BERTOLDI

AFFORDABLE HOUSING ADVOCATE & AUTHOR https://tonybertoldi.com/

12:10:21     From Steve Gurney - ProAging Community : LOW-INCOME HOUSING TAX CREDIT (LIHTC) https://www.huduser.gov/portal/datasets/lihtc.html

12:11:32     From Krysten Schmidt : More about CREA: https://www.creallc.com/

12:12:41     From Elisabeth Green : then why don't you call it affordable rentals so you don't waste the time of folks seeking to buy?

12:13:21     From Steven Katz : Most affordable housing developers pursue the "Sweet Spot" of 60% AMI (Area Median Income). The "forgotten middle" usually doesn't qualify for the subsidy.

12:15:09     From Maggie Ma : what is the definition of an 'older adult' - what age range is this?

12:17:53     From Russell Kitty : Do these properties also allow people at 100% of median to live there too?

12:20:36     From Steven Katz : @Russell Kitty - No.

12:21:39     From Samantha Henson  to  Hosts and panelists : I'm sorry, I had to miss the beginning of this. Will the recording be sent out? Thanks!

12:23:36     From Krysten Schmidt : Russel, some of these communities have units available for residents that do not fit within the 60% (or determined) AMI. However, they are at market rate. There are requirements and eligibility for residents to rent LIHTC-specific units.

12:23:47     From Steve Gurney - ProAging Community  to  Samantha Henson and all panelists : yes you can find the recording this afternoon at https://www.retirementlivingsourcebook.com/videos?q=proaging

12:24:33     From Sofía Castillo Cieza : To qualify for the LIHTC Program, a household's income must not exceed 80 percent of Area Median Income (AMI).  I believe 100% AMI is considered moderate income.

12:25:21     From Samantha Henson  to  Hosts and panelists : Thank you!

12:26:45     From Steven Katz : https://bridgemeadows.org/

12:27:12     From Steve Gurney - ProAging Community : Bridge Meadows North Portland https://bridgemeadows.org/

12:28:05     From Dixcy Bosley : Washington DC is home to a  true champion for affordable housing   Jubilee Housing, Inc.   celebrated its 50th year , developed over 18 buildings for well deserving low income families . What sets them apart is their vision for “justice housing” wrap around services within the communities  ( senior wellness, addiction / recovery support, food services, etc)

12:28:40     From Retta Young  to  Hosts and panelists : (1) what is included under the rent? (Utilities, pools, garage parking, security or secured building) (2) who dictates the lease? Since you get a federal tax credit is the lease reviewed and approved by the government or the private owner (3) how can we see a copy of the lease before committing to a rental agreement? (4) is there set laws how much you can increase the rent by year?

12:29:46     From Steve Gurney - ProAging Community : Plus One Accessory Dwelling Unit (ADU) Program https://www.nyc.gov/site/hpd/services-and-information/plus-one-adu.page

12:31:18     From Steven Katz : https://www.taxcreditcoalition.org/

12:31:31     From Steve Gurney - ProAging Community : The Affordable Housing Tax Credit Coalition (AHTCC) is a trade organization of housing professionals who advocate in support of the Low-Income Housing Tax Credit. Our members have supported the provision of affordable housing in in every state and U.S. territory – more than 1.5 million homes to date. https://www.taxcreditcoalition.org/

12:32:21     From Steve Gurney - ProAging Community : Housing Credit Takeaways from the Proposed Bipartisan Tax Deal https://bipartisanpolicy.org/blog/housing-credit-takeaways-from-the-proposed-bipartisan-tax-deal/#:~:text=The%20tax%20deal%20would%20increase,on%20a%20per%2Dcapita%20formula.

12:37:03     From Ann Zabaldo  to  Hosts and panelists : Ann Zabaldo, id. Atlantic Cohousing, nationally we have an initiative to create more “missing middle” housing.  In our model, the future resident partner w/ the developer to fund 5-35% of preconstruction costs.  Cohousing communities are small, village like  pf 4-60 units.  What scale do you need to fund a project?

12:37:05     From Steven Katz : It's widely done in northern Europe

12:37:28     From Jerry Poje  to  Hosts and panelists : How about this for the LA approach: https://calmatters.org/housing/2024/02/affordable-housing-los-angeles/

12:37:36     From Krysten Schmidt : Learn more about micro-units: https://tonybertoldi.com/blog/f/how-micro-unit-apartments-can-bolster-affordable-housing

12:39:05     From Steve Gurney - ProAging Community : From Ann Zabaldo to All Panelists 12:37 PM

Ann Zabaldo, id. Atlantic Cohousing, nationally we have an initiative to create more “missing middle” housing.  In our model, the future resident partner w/ the developer to fund 5-35% of preconstruction costs.  Cohousing communities are small, village like  pf 4-60 units.  What scale do you need to fund a project?

12:39:38     From Theresa Whitting : I saw a youtube video about Micro Housing to purchase in  Arizona.

12:43:53     From Steven Katz : Our project in Lexington KY will be 45 units.

12:44:20     From Ann Zabaldo  to  Hosts and panelists : There are a couple of rental models of Cohousig.

12:44:39     From Steven Katz : And all the units will be accessible with universal design features.

12:45:32     From Steven Katz : Our developer is AU Associates (Johan Graham)

12:46:12     From JOYCE DIMMOCK : CT Connecticut

12:46:39     From JOYCE DIMMOCK : Thank you. Heard about CHFA.

12:47:00     From Steve Gurney - ProAging Community : https://www.chfa.org/

12:47:09     From Ann Zabaldo  to  Hosts and panelists : In your organization do you have a homeownership program?

12:48:11     From JOYCE DIMMOCK : Thanks for the CHFA link and website.

12:49:53     From Steve Gurney - ProAging Community : TONY BERTOLDI

AFFORDABLE HOUSING ADVOCATE & AUTHOR https://tonybertoldi.com/

12:51:28     From Theresa Whitting : QQQQ:Is this incentive to rent have to do with Medicare reccouping for that is spent for long-term nursing home care?

12:52:00     From Krysten Schmidt : Check out one of CREA's exciting upcoming communities in partnership with Century Affordable Development and West LA VA: https://www.creallc.com/post/49-supportive-homes-for-veterans-at-building-158

12:52:27     From Retta Young  to  Hosts and panelists : Even with all the new “senior” housing being built we still will not meet the high need by 2030. In 2030 all “Baby Boomers” will reach full retirement age (over 67) and a study was done that showed by 2030 the US will be short by over 17,000 units. This will be a health crisis if we don’t get Congress to start talking about this now.

12:52:44     From Jerry Poje : Check out this classic from Malcolm Gladwell, “Million Dollar Murray” https://www.newyorker.com/magazine/2006/02/13/million-dollar-murray

12:53:01     From Krysten Schmidt : And some senior-specific communities to add to your reading list post conversation that feature the impact of some of CREA's senior communities: 1) Karl's Farm in Northglenn, CO https://www.creallc.com/post/looking-forward-embracing-the-past-at-karl-s-farm 2) Virginia Street Studios in San Jose, CA https://www.creallc.com/post/the-future-of-affordable-housing-development-at-virginia-street-studios 3) Independence Apartments and Northtown Apartments in Chicago, IL https://www.creallc.com/post/evergreen-creates-affordable-housing-and-library-offerings-under-one-roof

12:53:26     From Steven Katz : Seniors are a growing share of the homeless population https://theweek.com/us/1023831/why-are-so-many-baby-boomers-homeless-in-america

12:53:35     From Retta Young  to  Hosts and panelists : By 2030 over 20% of our population will be made up of seniors. This is a health crisis going to happen

12:55:38     From Retta Young  to  Hosts and panelists : The rich know about the senior housing shortage and they are building and opening these “luxury” senior communities quickly. And they are selling out!

12:57:52     From Steven Katz : Combining the Low-Income Housing Tax Credit with Assisted Living Developments https://www.ajjcs.net/paper/main/2017/06/26/combining-the-low-income-housing-tax-credit-with-assisted-living-developments/

12:59:58     From Steven Katz : What is the bill #?

13:00:07     From Ann Zabaldo  to  Hosts and panelists : We must remember the effect of zoning dampening down building multi family housing.  Since all construction is local streamlining the building process nationally is knotty.  But the Feds could offer incentives for local municipalities to streamline their building codes starting with/ zoning.

13:00:58     From Retta Young  to  Hosts and panelists : But the retired librarian, construction workers, school bus drivers, cafeteria workers and more can’t afford these places and barely qualify for affordable housing. I will keep advocating for our working class seniors

13:01:03     From Kim High : Is there a form letter that you can send us so that it can be sent directly to the senators in our state.

13:01:04     From Steve Gurney - ProAging Community : H.R.7024 - Tax Relief for American Families and Workers Act of 2024 https://www.congress.gov/bill/118th-congress/house-bill/7024

13:01:38     From JOYCE DIMMOCK : Thank you.

13:01:48     From Retta Young  to  Hosts and panelists : Great discussion

13:01:54     From Dixcy Bosley : VOTE

13:01:55     From Jerry Poje : Terrific chat.  Many thanks.

13:01:56     From Theresa Whitting : Thank You Steve & Tony

13:02:01     From Melissa Owens : Thank you so much!

13:02:01     From Gail Hubberman : Thanks for this information. Very helpful

13:02:03     From Kris O’Keefe : Thanks Tony!