On Wednesday, March 27, Housing Opportunities, Inc. Board of Directors and staff celebrated the ground breaking of Bedford Place LLC, their 12th income based, affordable rental property. Bedford Place will be an income based rental property for seniors, age 55 and over, and the disabled.
“We’re thankful to the City of Great Bend, City Manager Howard Partington and Mayor Allison for their cooperation and assistance in this new venture,” said HOI Executive Director Vicky Dayton. “We look forward to many more collaborations in the future.”
In addition to the planned 22 duplex apartments on West 31st Street, there will be a community building for use by the tenants. Each rental is a two bedroom duplex apartment with an attached garage with opener and keyless entry, large living room, dining room and bathroom. Each is equipped with refrigerator, stove, dishwasher, garbage disposal washer and dryer. The apartments are all electric, well insulated and typically reduce the utility bills for the renter compared to their current location.
The addition of these new units will bring the total number of affordable rentals operated by HOI in Great Bend to 76.
“We currently serve Barton, Pawnee and Rice counties by providing safe, decent, affordable income based housing for seniors, the disabled and families,” Dayton said.
HOI’s properties are located in Ellinwood, Larned, Great Bend, Hoisington and Lyons. Fifty four of the Self-Help homes were built in Great Bend from 2000 to 2006 and Great Bend currently has four of the twelve HOI rental properties made up of 54 apartments.
The non-profit is recognized in Kansas as a Community Housing Development Organization by the Department of Housing and Urban Development (HUD). This means it is a private, community-based service organization that has a staff with the capacity to develop affordable housing for the community it serves.
Dayton said since 1999, HOI has been awarded approximately $20 million in tax credits, HOME Funds, Federal Home Loan Bank AHP Funds, and CHDO funds for the creation of 156 income based rental apartments, and single family rent-to-own homes as well as 57 new homeownership homes through the USDA Self-Help Housing Program.
With the development of each property HOI joins with the local city government in order to compete in the one funding round early each year. The Kansas Housing Resources Corporation in Topeka generally awards 10 or fewer applications each year out of 50 or more submitted. In this highly competitive process it is extremely important to show local participation as well as need, and the capacity to build, manage and maintain the property for at least a 15 year period. HOI as the managing member of each LP or LLC, is part owner in the property and provides the management and maintenance.