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Our Mission - Affordable Living for All

Home Repairs	Weatherization	Green Certified Homes


Financial Counseling	Multi-family	Affordable Rentals

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What is affordable housing?

Defined by both income and family size for participants. The housing expense goal is 30% of gross household income (utilities, insurance, transportation)
Goal : shelter based on income by family size
Purpose( Type): Rent or Home Ownership

Stock: Existing or new
Type: Single-family or Multi-family
Activity: New or Rehab or preservation (foreclosure prevention or refinancing)

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2021 income guidelines

Max Income	Annual Income	Monthly Income	Housing at 30%
50% AMI	$37,400	$3,116	$ 935
80 % AMI	$59,850	$4,987	$1,496

Rentals	2 Bedroom	3 Bedroom
50 % AMI	$ 842	$ 972
80 % AMI	$ 1,347	$1,556

The challenge is when the family at 50% AMI can only find market rents starting at the 80% rate or higher. If the housing group has been talking about helping those earning less than $40,000 annually, the options become different, both in terms of purchase or rent, and what funds are committed to the solution (examples of wage earners).

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Threats to the existing housing stock

Disparity between wages and housing expenses
Rising material prices
Shortage of workers, especially in remodeling
Refinancing- Rising interest rates
Build-for-rent investors buying up existing portfolio
Lack of financial counseling to make good decisions, and maintain a strong credit score

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Preserve the existing stock

Homeownership
Refinancing opportunities
Foreclosure prevention
Rehab/Retrofit

Conservation
Accessibility
Resiliency

Rentals
Back rent assistance
Refinancing options
Deferred maintenance
Prevent investor buyouts from landlord fatigue

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Increase the supply

Build more affordable rental and homeownership options
Build for Rent investor "positives" -

Quicker financing payout-Sells faster-Volume cost savings

Financing incentives: will attract builders
Regulatory incentives- must be just for affordable
Diversity in product

Such as townhomes or ADUs for homeownership
Why not increased density with infill for both rental and homeownership in single family zoning?

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Decisions/Goals

Defining who (workforce or charity) is being served is key to what funds are available
Priorities are based on need and desire for success stories
What/how much funding is available?
Is there a public demand for something specific?

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79 Masters Drive- Patriot Place

6 one-bedroom apts
Density bonus- generated cash for affordable venture
No impact fee-Saves $48,000
Required $25,000 Utility Fees
Ameris Bank financing
Supportive housing initiative
Rent: $800/month
Max HUD FMR- $ 910 ( for 80%)

Click to add text

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Housing Plus- partnerships not silos

Sub-standard rehab efforts for existing homes
Conservation: energy and water
Resiliency- growing awareness of climate impact
Healthy housing- new partnerships/cost savings

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St. Johns Housing Partnership, Inc.

PO Box 1086

St. Augustine, FL 32085

(904) 824-0902

www.sjhp.org

https://www.facebook.com/StJohnsHousingPartnership

Bill Lazar

blazar@sjhp.org

(904) 669-1069

Caleena Shirley

caleena@sjhp.org

(904) 646-8802

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Income by family size is the definition

AMI chart for 50 % for buying or renting, sample occupations
Example of when subsidy is important , Same size family 50% or 80%

2021 Guidelines: Family of 4
Max income		Monthly	30%
50% AMI	$37,400	$ 3,116	$ 935
80% AMI	$59,850	$ 4,987	$ 1,496

Rent Limits		2 Bedroom	3 Bedroom
50% AMI		$ 842	$ 972
80% AMI		$ 1,347	$ 1,556