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Home My WebLink AboutOlympic Housing Trust - $35,100Fundingfor Affordableandsupportive Housing & HomelessHousing andAssistance Funds APPLICATION ProposalsmustbeRECEIVED: 9/29/23at4pm JeffersonCounty throughtheCounty & CityofPortTownsend HousingFundBoard Page9of15 Application Affordableandsupportive Housing & HomelessHousing andAssistance Funds ForusefromJanuary1, 2024toDecember31, 2024 GENERALINFORMATION –Itisunderstoodthatifawardedfundingforthisperiod, thereisnoguaranteeof futurefundingbeyondthisaward. Weestimatetheavailablefundingforthisperiodtobeapproximately $220,000forHomelessHousingand 965,000forAffordableHousing. Page10of15 NameofProjectorProgram oorProgram: Requestedtotalamountforthisapplication: $ AreaoftheCountytobeserved: FederalTaxID #: NameofApplicant/Agency: ContactPerson: Title: Address: City: State: Zip: PhoneNumber: FaxNumber: E-mail: CERTIFICATIONbyAuthorizedAgencyRepresentative (BoardPresident, CEO, oranotherpersonauthorizedto bindtheagencyinacontract). NameofAuthorizedAgencyRepresentative (print):________________________________ Title: ____________________________________ Applicantcertifiesthatthesefundswillbeusedasdescribedinthisapplicationunlessachangehasbeen mutuallyagreeduponbetweenContractorandJeffersonCountyBoardofCountyCommissioners. Substantive amendmentrequestswillalsorequiretheapprovaloftheHousingFundBoard (“HFB”). Applicantcertifiesthattheinformationinthisapplicationistrueandcorrect. ApplicantcertifiesthatithasnooutstandingobligationstotheCountywithrespecttohousingfunds. SignatureofAuthorizedAgencyRepresentative Date Page11of15 Dundee Hill Homebuyer Coordinator 35,100 All of Jefferson County is eligible. Project is in PT. Olympic Housing Trust Kellen Lynch Outreach and Development Manager PO 1537 Port Townsend WA 98368 206-384-2135 info@olympichousingtrust.org 61-1497176 Jesse Thomas Board President SPECIFICINFORMATION PleaseseparatelytabeachsectionoftheapplicationsubmissionastoProjectorProgramDescription, Capacity, Alignment, Approach, ImpactofFunds, Budget. PROJECTDESCRIPTION NameofProjectorProgram: ____________________________________________________ Amountrequested: ________________________________________________ ProvideabriefdescriptionoftheProjectorProgram: (LIMIT200WORDS) SpecifytheProjectorProgramgoalsandexpectedoutcomes. Specifythemeasuresofsuccessbywhichthe ProjectorProgramwillbeassessed. (LIMIT300WORDS) SpecifythenumberofunitsofhousingtobecreatedornumberofindividualswhowillbeservedbytheProject orProgram. ThresholdRequirements: Specifythespecificeligibleuse(s) under5386and/or1590forwhichtheProjector Programqualifies, aslistedonpagestwothroughfouroftheRFP. Provideabriefdescriptionofrecent, relevantandsuccessfulexperiencesindelivering similarprogramsand/orprojects. BrieflydescribehowtheprojectalignswiththeprioritiesandobjectivesoftheFive- YearHomelessHousingPlanandthecommunityoutreachconductedfortheproject orprogram. (LIMIT400WORDS) A. APPROACH - CompletenessofProposalandReadiness (5Points) (LIMIT400WORDS) Yourapplicationshoulddescribehowyouwillapproachthisassignmentandcompletethepurposeof theproposal. IstheProjectorProgramreadytousethefundingnoworarethereactionstobetakenbeforetheProjector Programcanbegin? Ifso, whatarethoseactions? WilltherequestedfundsfullyfundtheProjectorProgram? Ifnot, howdoestheorganizationintendtofillthe gap? CouldtheProjectorProgrambescaled (includetheperunitcostoftheProjectorProgram)? Haveadditionalfundsbeenrequestedorwillberequested. Identifythesourcesforthoserequestsandthestatus oftherequests. Page12of15 Dundee Hill Homebuyer Coordinator $35,100 B. IMPACTOFFUNDS - LeverageofOtherFundsandNumberofPersonsAssisted 10Points) (LIMIT400WORDS) HowwouldtheprojectcontributetopositivemovementinCommerce’sHomelessSystem PerformanceMeasure: totalprojectentries, lengthoftimehomeless, exitstopermanenthousing, returnstohomelessness, andsystemprioritization. Gotowww.jeffcountychamber.org. Areyouusinganymatchingfunds? Ifyes, whatisthesource? AretherequestedfundstobeusedasamatchforthisProjectorProgram? Ifyes, provideadescriptionofthe ProjectorProgramtobematchedandhowitrelatestothegoalsandprioritiesoftheFive-YearPlan. Also, provideabudgetfortheentireProjectorProgramincludingfundingfromallsourcesandidentifywhatportion oftheProjectorProgramthesefundswillsupport. Specifythenumberofhousingunitsthatwillbecreatedorthenumberofindividualswhowillbeassistedwith thisProjectorPrograminthefirstyear. SpecifythenumberofindividualswhowillbeassistedwiththisProgram. DiscusshowthisProjectorProgramwillbesustainedafterthesefundsareexhausted. C. PROJECTORPROGRAMBUDGET – AFeasibleFinancialPlan (5Points) BUDGETFORMS FundingperiodbeginsJanuary1, 2023, andendsDecember31, 2023 Pleaseusetheattachedbudgettemplates. Ifyouneedadditionalspace, youmayinsertrows. “Proposal” refers tothefundsrequestedfromthesefundsthatwillbeappliedtothisspecificProjectorProgram. Blankspaces areprovidedforadditionalcategories. Justificationforbudgetitemsmustbespecific, andthatsamespecificity shouldbereflectedinsubsequentbillings. Amaximum10% Administrationfeeisallowedforprojectsif needed, however, AdministrationfeesarenotallowedforCapitalProjects. CAPITALBUDGETFORREALESTATEDEVELOPMENTUSES FinancingCategories Estimate BasisofEstimate TotalAcquisitionCosts $ Construction $ ConstructionFees $ FinancingFeesand $ Charges GuaranteesandReserves $ DevelopersFee $ Subtotal $ TOTAL $ Page13of15 SOURCES FinancingCategories Estimator IndicateifCommittedorApplicationhasbeenmade. Ifnotmade indicatedateapplicationistobesubmitted PrivateLoan $ JeffersonCountyFunds $ PublicSources (Stateor $ FederalFunds) Foundations $ Donations $ LowIncomeHousing $ TaxCredits (indicate9% or4%) HistoricTaxCredits $ NewMarketTaxCredits $ Gap (ifany) $ TOTAL $ Pleaseincludeanybudgetnarrativethatisdescriptiveorhelpfultoexplainanypartofyourproposed expendituresinyourcapitalbudget(s). (LIMIT300WORDS) PROGRAMOPERATINGBUDGET DATES\] BudgetCategories Program Proposal Justification Priority Salaries $ $ Benefits $ $ RentalSubsidies $ $ Utilities $ $ Insurance $ $ Food/Supplies $ $ Furnishings/Equipment $ $ Repair/Maintenance $ $ Transportation (explain) $ $ Subtotal $ $ Administration (10% max.) $ $ TOTAL $ $ IfyourProjectorProgramincludessalariesandbenefits, pleaselistposition(s) andFTEtobepaidbythesefunds FTEshouldbethatpercentageoftimetheemployeeisdedicatedtothisProjectorProgram): Position Salary Benefits FTE Page14of15 FUNDINGSOURCESFORTHEPROGRAMin2022 FundingSources Awards Awards IndicateifCommittedor 20XX 20XX Applicationhasbeenmade. PublicSources $ $ StateorFederal Funds) PrivateDonations $ $ FoundationGrants $ $ UnitedCampaigns $ $ Other $ $ Other $ $ TOTAL $ $ Pleaseincludeanybudgetnarrativethatisdescriptiveorhelpful, toexplainanypartofyourproposed expenditures. Forinstance, ifyouarerequestingfurnishingsorappliancesspecificallyforhousingincluded inyourProjectorProgram, whataretheitemsyouarerequesting? LIMIT300WORDS) Page15of15 ATTACHMENTA RequiredInsurance Coverages. a. CommercialGeneralLiability. 1) RecipientshallmaintaincommercialgeneralliabilitycoverageonaformacceptabletoJefferson CountyRiskManagementforbodilyinjury, personalinjury, andpropertydamage, inanamountnot lessthantwomilliondollarsperoccurrence ($2,000,000) andanaggregateofnotlessthanfour milliondollars ($4,000,000), forbodilyinjury, includingdeath, andpropertydamage. 2) Thecommercialgeneralliabilityinsurancecoverageshallcontainnolimitationsonthescopeofthe protectionprovidedandincludethefollowingminimumcoverage: i. Broadformpropertydamage, withnoemployeeexclusion; ii. Personinjuryliability, includingextendedbodilyinjury; iii. Broadformcontractual/commercialliability, includingcompletedoperationsandproduct liabilitycoverage; iv. Premises – operationsliability (M&C); v. Independentcontractorsandsubcontractors; and, vi. Blanketcontractualliability. 3) Recipient’scommercialgeneralliabilitypolicyshallincludeemployer’sliabilitycoverage. 4) TheCountyanditselectedofficials, officersandemployeesshallbenamedasanadditionalinsured partyunderthisinsurancepolicy. b. AutomobileLiability. RecipientshallmaintainbusinessautomobileLiabilityinsuranceonaformacceptabletoJeffersonCounty RiskManagementwithalimitofnotlessthanacombinedsinglelimitof $1,000,000eachoccurrence. Coverageshallincludeowned, hired, andnon-ownedautomobiles. c. Workers’ Compensation (IndustrialInsurance). Recipientshallmaintainworkers’ compensationinsuranceat itsownexpense, asrequiredbyTitle51RCW, forthetermofthisAgreementandshallprovideevidenceof coveragetoJeffersonCountyRiskManagement, uponrequest. IftheCountyincursanycosttoenforcethe provisionsofthissubsection, allcostsandfeesshallberecoverableformRecipient. 1) RecipientshallprovideWorkers’ CompensationandEmployer’sLiabilityonastateapprovedpolicy formprovidingbenefitsasrequiredbylawwithemployer’sliabilitylimitsnolessthan $1,000,000 peraccidentordisease. 2) Thiscoverageshallextendtoanycontractororsubcontractorthatdoesnothavetheirownworkers’ compensationandemployer’sliabilityinsurance. Page16of15 7. Recipientexpresslywaivesbymutualnegotiationallimmunityandlimitationsonliability, withrespecttothe County, underanyindustrialinsuranceact, disabilitybenefitact, orotheremployeebenefitactofany jurisdiction, whichwouldotherwisebeapplicableincaseofsuchclaim. 8. GeneralInsuranceRequirements. a. Insurancecoverageshallbeevidencedbyoneofthefollowingmethods: 1) Certificateofinsurance; or, 2) Self-insurancethroughanirrevocableLetterofCreditfromaqualifiedfinancialinstitution. b. Anydeductiblesorself-insuredshallbedeclaredtoandapprovedbytheCountypriortotheapprovalofthis AgreementbytheCounty. AttheoptionoftheCounty, theinsurershallreduceoreliminatedeductiblesor self-insuredretention, orRecipientshallprocureabondguaranteeingpaymentoflossesandrelated investigations, claimadministrationanddefenseexpenses. c. FailureofRecipienttotakeoutormaintainanyrequiredinsuranceshallnotrelieveRecipientfromany liabilityunderthisagreement, norshalltheinsurancerequirementsbeconstruedtoconflictwithorotherwise limittheobligationsconcerningindemnificationoftheCounty. d. Recipient’sinsurersshallhavenorightofrecoveryorsubrogationagainsttheCounty (includingits employeesandotheragentsandagencies), itbeingtheintentionofthepartiesthattheinsurancepoliciesso affectedshallprotectallthepartiesandshallbeprimarycoverageforalllossescoveredbytheabove describedinsurance. e. InsurancecompaniesissuingRecipient’sinsurancepolicyorpoliciesshallhavenorecourseagainstthe County (includingitsemployeesandotheragentsandagencies) forpaymentofanypremiumsorfor assessmentsunderanyformofinsurancepolicy. f. AlldeductiblesinRecipient’sinsurancepoliciesshallbeassumedbyandbeatthesoleriskofRecipient. g. AnyjudgmentsforwhichtheCountymaybeliable, inexcessofinsuredamountsrequiredbythis agreement, oranyportionthereof, maybewithheldfrompaymentdue, ortobecomedue, toRecipientuntil RecipientshallfurnishadditionalsecuritycoveringsuchjudgmentasmaybedeterminedbytheCounty. h. AnycoverageforthirdpartyliabilityclaimsprovidedtotheCountybya “RiskPool” createdpursuanttoCh. 48.62RCWshallbenon-contributorywithrespecttoanyinsurancepolicyRecipientshallprovidetocomply withthisAgreement. i. TheCountymay, uponRecipient’sfailuretocomplywithallprovisionsofthisAgreementrelatingto insurance, withholdpaymentorcompensationthatwouldotherwisebeduetoRecipient. j. RecipientshallprovideacopyofallinsurancepoliciesspecifiedinthisAgreement. k. WrittennoticeofcancellationorchangeinRecipient’sinsurancerequiredbythisAgreementshallreference theprojectnameandagreementnumberandshallbemailedtotheCountyatthefollowingaddress: JeffersonCountyRiskManagement, P.O. Box1220, PortTownsend, WA98368. Page17of15 l. Recipient’sliabilityinsuranceprovisionsshallbeprimaryandnoncontributorywithrespecttoanyinsurance orself-insuranceorself-insuranceprogramscoveringtheCounty, itselectedandappointedofficers, officials, employeesandagents. m. Anyfailuretocomplywithreportingprovisionsoftheinsurancepoliciesshallnotaffectcoverageprovided totheCounty, itsofficers, officials, employeesoragents. n. Recipient’sinsuranceshallapplyseparatelytoeachinsuredagainstwhomclaimismadeorsuitisbrought, exceptwithrespecttothelimitsoftheinsurer’sliability. o. Recipientshallincludeallsubcontractorsasinsuredunderitsinsurancepoliciesorshallfurnishseparate certificatesandendorsementsforeachsubcontractor. Allinsurancecoverageforsubcontractorsshallbe subjecttoalltherequirementsstatedinthisAgreement. Theinsurancelimitsmandatedforanyinsurance coveragerequiredbythisAgreementarenotintendedtobeanindicationofexposurenoraretheylimitations onindemnification. p. Recipientshallmaintainallrequiredinsurancepoliciesinforcefromthetimeservicescommenceuntil servicesarecompleted. Certificates, insurancepolicies, andendorsementsexpiringbeforecompletionof serviceswillbepromptlyreplaced. q. RecipientshallplaceinsurancewithinsurerslistedtobusinessintheStateofWashingtonandhavingA.M. BestCompanyratingsofnolessthanA-, withtheexceptionthatexcessandumbrellacoverageusedtomeet therequirementsforlimitsofliabilityorgapsincoverageneednotbeplacewithinsurersorre-insurers licensedintheStateofWashington. r. CertificatesofinsuranceasrequiredbythisAgreementshallbedeliveredtotheCountywithinfifteen (15) daysofexecutionoftheAgreement. Totheextentacertificatelistsorreferstoanyendorsementssolelyby name. descriptionornumberitshallbetheresponsibilityofRecipienttoobtainandprovidetoJefferson CountyRiskManagementafullandcompletecopyofthetextsofsuchendorsements. s. TheCountyshallbenamedasan “additionalinsured” onallinsurancepoliciesrequiredbythisAgreement. t. RecipientshallfurnishtheCountywithproperlyexecutedcertificatesofinsurancethat, ataminimum, shall include: 1) Thelimitsofcoverage; 2) Theprojectnameandagreementnumbertowhichitapplies; 3) ThecertificateholderasJeffersonCounty, Washingtonanditselectedofficials, officers, employees andagentswiththeaddressofJeffersonCountyRiskManagement, P.O. Box1220, PortTownsend, WA98368; and 4) Astatementthattheinsurancepolicyshallnotbecancelledorallowedtoexpireexceptonthirty 30) dayspriorwrittennoticetotheCounty. Page18of15 Olympic Housing Trust Proposal -Affordable and Supportive Housing 1590 Funds Threshold Requirements This proposal qualifies under the 1590 fund for the purpose of delivering ‘housing-related services’to households within Jefferson County who may be at 50%of AMI.Given the severe lack of homebuying options and experience for the economically distressed,the applicant,the Olympic Housing Trust,proposes that the service is focused on homebuyer outreach,education, and mortgage financing support to ensure a diversity of complete applications for the Dundee Hill project,a new affordable housing project.This is part of the Dundee Hill project,a capital project that is delivering five new homes into Jefferson County for households earning as low as 50%AMI. The Olympic Housing Trust (OHT)has successfully stewarded four homes in Clallam County for over ten years.These homeowners will occasionally opt to sell their house and move on from the deed restricted home that they purchased under OHT.It is up to OHT to remind the homeowner their obligations in selling,and to educate the new prospective buyers as to the specific requirements associated with buying a ‘permanently affordable house’,which is subject to resale restrictions.For this intermittent work,OHT must hire out to regional advisors to guide the process.For Dundee Hill,OHT is anticipating an unprecedented amount of demand and work for the staff and Board in managing the flood of interest from prospective buyers.To meet this demand,OHT is proposing hiring out on contract or on staff a position that will specifically tackle this challenge in 2024. Dundee Hill and the Homebuyer Coordinator program aligns with local plans by offering a pathway for those who are economically distressed or housing insecure to find one more opportunity that may offer support.This is part of what the 5-Year Homelessness plan outlines with “bridging the gap to stable housing”,however OHT recognizes that its constituency for homebuyers are likely not those who are currently unsheltered.It is understood that even those earning above 100%AMI struggle to secure housing in Jefferson County,and especially so for those earning farther down the income line.OHT seeks to make the task of finding and securing housing marginally simpler by providing informed support to these local households. Approach The Olympic Housing Trust,a local 501(c)(3)is requesting funds for housing-related services as associated with the development on Dundee Hill,a new affordable housing project in Port Townsend.The funds would serve OHT in developing,marketing,and instituting a homeownership education program for prospective buyers and community members who would be eligible buyers,but are otherwise unfamiliar with the process.Fundamentally,this ‘housing-related service’would be a program run under a homebuyer coordinator that would explain how OHT’s ‘buy-down’of a home works,how the deed and resale restrictions function as a tool of affordability and equity building,how to qualify for mortgage financing,and how diverse households can qualify. As a small and growing nonprofit housing developer,OHT relies on donated time from board trustees and professional advisors to support a small staff.However,with adequate funding,the inevitable challenge of educating the many interested buyers to the process of home buying, especially within the community land trust (CLT)model,will be made easier for all.This too can make a lasting impact on the awareness of how OHT,as a community land trust,operates to serve the Olympic Peninsula.With funding,OHT would seek either to bring on a professional contractor,or build out a new staff position,to support as a homebuyer coordinator within this housing-related services program. Dundee Hill’s five new units being developed will be available to qualifying first-time homebuyers earning as low as 50%area median income.With the support of a homebuyer education program,OHT can position itself better to connect with those named in the RFP, including veterans,senior citizens,and survivors of domestic abuse,as well as those within the regional BIPOC communities.This broader reach will result in more permanent outcomes for the County’s funds and support diversifying OHT’s homeowner base. Many households within our local community are underserved by today’s market rate offerings, as well as existing affordable housing.OHT seeks to expand the homeownership access for those earning between 50%to 60%,as this range is perpetually underserved by homeownership programs.Reaching prospective homebuyers within this range will be made more possible through the funding of a coordinator who can prioritize this level of outreach and education. See the tables below for OHT’s affordability scenarios utilizing both USDA 502 Direct Loans for those earning below 80%,and conventional lending for those earning between 80%and 100% AMI. Impact and Timeline The Dundee Hill project will result in five new,green built homes that are permanently affordable to residents of Jefferson County who earn below 100%AMI.OHT estimates that the new homes can house 16 individuals based upon various household sizes.The specific households and their respective income levels are not yet determined as the homeownership application process has not been released.The positive result of stable housing for these individuals,and the subsequent future residents of these affordable units cannot be overstated,as housing has been shown to be a key indicator of health and wellness and educational success. OHT sees its work of developing permanently affordable housing as,ultimately,a backstop against the rise in housing inequities and homelessness within the Olympic Peninsula.However, Commerce’s Homeless System Performance Measure is necessarily not the most suitable tool to use when comparing affordable homeownership opportunities.For instance,the homes that OHT is creating can be affordable to households earning as low as 50%AMI with access to USDA 502 direct loan financing,which those experiencing homelessness may or may not be in a position to apply for.If they are,projects like Dundee Hill provide a very stable on-ramp towards housing security and equity building.At this time,OHT has not specifically set aside specific units for specific populations,such as for veterans or survivors of domestic abuse.Despite the clear need for housing for such individuals,OHT’s commitment to permanently affordable homeownership can present a challenge of hyper-narrowing the eligibility window for specific households beyond the income threshold,‘bank-ability’,and regional residency requirements. Obtain site control of Dundee Hill property November 2022 Project announcement,preliminary design and site analysis December 2022 Confirm project support from City and County January 2023 Host site tours for community members June,July 2023 Secure general contractor for pre-construction August 2023 Submit building permits September 2023 Submit Housing Trust Fund application September 2023 Submit proposal for 1590 funds September 2023 HTF award announcement December 2023 Hire on homebuyer coordinator February 2024 Secure construction financing March 2024 Break ground on Dundee Hill May 2024 Host educational seminars for homebuyers April -August 2024 Release homeownership application July 2024 Process homebuyer applications August 2024 Conduct further training to improve home buyer readiness September -December 2024 Complete construction August 2025 Convey homes to homebuyers October 2025 OHT will submit an application to the Dept of Commerce Housing Trust Fund by September 29, 2023 for $500,000 in development funding.This portion of the budget,as well as the application for infrastructure costs through CHIP,and the eventual construction loan through the Washington State Housing Finance Commission are on schedule for securing,but have not yet been obtained. OHT is in regular contact with these respective parties and are working towards securing each of them,as well as finishing the capital campaign for local contributions from Jefferson County, and private foundations. In regards to any unfunded portion of the Dundee Hill project,OHT will inevitably apply for funds elsewhere,such as the Federal Home Loan Bank of Des Moines,CDBG or SHOP through HUD,or other private foundations.However this will likely delay the start date of the project by a minimum of 3 -6 months.OHT is eager to secure more funding through local parties,like Jefferson County,as most other non-local funders are less likely to grant money until more is already in the pot.OHT refers to getting through this phase as achieving ‘escape velocity’,and we hope that the Housing Fund Board with its local constituents and directive will see fit to support such a challenging mission. The 1590 funds used for the purpose of educating homebuyers would assist OHT in the near and long term,and could absolutely be argued that this funding would scale over time to other such projects. Budget The following budget for the Dundee Hill project is reflective of what OHT has prepared for Commerce’s Housing Trust Fund,and is based upon various project cost estimates,including from Babbit Construction,the general contractor tasked during the pre-construction phase.The expense of a Homebuyer Coordinator position is being budgeted under the project budget,and not the organization’s general operating budget. Project Expenses Financing categories Estimate Basis of estimate Total acquisition cost $87,752.00 Land donated,estimate based upon appraised value of land and closing costs Construction $2,030,633.00 Includes construction,infrastructure,specialities, contingency,tax,etc Construction fees $57,158.00 Impact fees with City of Port Townsend Financing fees and charges $30,191.00 WA State Housing Finance Commission 2% construction loan Guarantees and reserves $25,000.00 5%reserved from HTF award Developers fee $65,000.00 For OHT Soft Costs $221,045.00 Insurance,project management,architect,engineering, fundraising,etc Total $2,516,779.00 Project Sources Categories Estimate Notes Private loan $-n/a WSHFC Construction Loan $1,190,000.00 Will secure Q1 2024 with WSHFC at 2% Jefferson County funds $115,100.00 1590 funds and already secured ARPA funding City of PT waivers $32,163.00 SDC waivers Public (state or federal)$712,736.00 HTF submitted.CHIP to apply Oct 2023.Secured WSU Energy Office solar funding.ITC Solar Tax Credit applying post-installation,2025. Foundation $115,512.00 Secured O'Shaughnessy Foundation.Submitted apps for Kitsap Bank,First Fed,WaFd Foundation Donations $351,268.00 $206,593 already secured Low income housing credits $-N/A Don't qualify based upon homeownership project Historic tax credits $-N/A New market tax credits $-N/A Gap (if any)$-N/A Total $2,516,779.00 Program Operating Budget January 2024 -December 2024 Category Program Proposal Justification Priority Salaries $35,100 $35,100 Funds to hire a homebuyer coordinator at $45 /hr,15 hrs /week,for 52 weeks. 1st priority Benefits n/a n/a n/a n/a Rental subsidies n/a n/a n/a n/a Utilities n/a n/a n/a n/a Insurance n/a n/a n/a n/a Supplies n/a n/a n/a n/a Furnishings n/a n/a n/a n/a Repair /Maintenance n/a n/a n/a n/a Transportation n/a n/a n/a n/a Subtotal $35,100 $35,100 Admin fee -- Total $35,100 $35,100 Position Salary Benefits FTE Homebuyer Coordinator $35,100.00 N/A.Likely contractor hire 38%FTE.All of their time is spent on Dundee Hill project Funding Sources for Program in 2022 Under the Dundee Hill project,this program is new and did not exist in 2022.Previously,OHT utilized professional community land trust advisors to support the Board of Trustees in arranging successful home resales.Funding sources for this program in 2022 is not relevant to this specific funding request for a Homebuyer Coordinator. Please find the 2023 operating budget and prospective 2024 operating budget attached below. Thank you for your consideration, Kellen Lynch,Outreach and Development Manager:kellen.lynch@outlook.com,206-384-2135 Jesse Thomas,Board President:jesse@olympichousingtrust.org Olympic Housing Trust Budget 01/01/23 - 12/31/23 FY 2023 NotesBudget Revenue Earned Income Resale Fee $0.00 No resale expected Lease Fee $2,160.00 $45 fee per owner Pre-Application Fee $500.00 $10 Final Application Fee $1,400.00 $40 General Membership Income $3,125.00 $25 at 125 members Business Membership Income $2,250.00 $150 at 15 businesses Contributions General Individual $4,000.00 Local donors Corporate $1,000.00 Hope, Google Foundation $10,000.00 IAO Public Funding $0.00 HFI Gifts In-Kind $4,000.00 Professional services: Accounting, marketing, legal, consultants Interest Income $2.00 Fundraisers & Events $4,000.00 Annual holiday party Total Revenue $32,437.00 FY 2023 NotesBudget Expenses Staff / Contractors Project Manager $0.00 Paid out of DH budget Executive Director $5,400.00 Nov, Dec 2023, 37% FTE Contracted Program Support $3,750.00 Julie Brunner Contracted Fundraising $6,300.00 Kellen Lynch. 1/4 operational. 3/4 covered by DH budget. Payroll Taxes $1,188.00 Susanna Sturrock Staff Training/Development $1,200.00 HFI Projects Property Tax $675.00 PA properties Property Management $350.00 PA properties Property Maintenance $350.00 PA properties Utilities $0.00 Office / Administration Legal & Accounting $2,000.00 Clarity Enterprises Insurance $5,500.00 IPFS Corp Supplies $250.00 Events Printing $250.00 Tabling Postage $350.00 Donor relations Travel & Meetings $450.00 Board retreat Marketing & Advertising $600.00 Events, membership Rental Assistance $0.00 Overhead Bank and Brokerage Fees $200.00 Stripe Fees, Permits and LIcenses $200.00 Includes SoS Dues and Subscriptions $550.00 Includes website, Microsoft suite Total Expenses $29,563 FY 2023 Net Revenue Over Expenses $2,874 Olympic Housing Trust Prospective Budget: Organization Summary 2024 FY 2024 Notes Budget Revenue Earned Income Resale Fee $0.00 No resale expected Lease Fee $2,160.00 $45 fee per owner Pre-Application Fee $500.00 $10 at 50 pre-apps Final Application Fee $1,400.00 $40 at 35 apps General Membership Income $3,875.00 $25 at 125 members Business Membership Income $3,750.00 $150 at 15 businesses Contributions General Individual $15,000.00 Local contributors Foundation $33,000.00 Community and bank foundations Gifts In-Kind $12,000.00 Professional services: Accounting, marketing, legal, consultants Public Funding $0.00 Fundraisers & Events $15,000.00 Donor dinner, holiday party Total Revenue $86,685.00 FY 2024 NotesBudget Expenses Staff / Contractors Executive Director $41,600.00 50% FTE Contracted CLT consulting $7,200.00 4 hrs / m Homebuyer Coordinator $0.00 $35,100 Paid out of Dundee Hill budget Contracted Fundraising $10,400.00 1/4 operational. 3/4 covered by Dundee Hill budget. Payroll Taxes $9,152.00 22% of ED Staff Training/Development $2,000.00 Projects Property Tax $675.00 PA properties Property Management $350.00 PA properties Property Maintenance $350.00 PA properties Utilities $0.00 Office / Administration Legal & Accounting $4,000.00 Clarity Enterprises Insurance $5,500.00 IPFS Corp Supplies $250.00 Events Printing $200.00 Tabling Postage $100.00 Donor relations Travel & Meetings $450.00 Board retreat Marketing & Advertising $600.00 Events, membership Rental Assistance $0.00 Overhead Bank and Brokerage Fees $200.00 Stripe Fees, Permits and LIcenses $200.00 Includes SoS Dues and Subscriptions $550.00 Includes website, Microsoft suite Total Expenses $83,777 FY 2024 Budget Revenue Over Expenses $2,908