PRESENTATI ON Strengthening Homes, Communities and Lives Guy Kempe - - PowerPoint PPT Presentation

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PRESENTATI ON Strengthening Homes, Communities and Lives Guy Kempe - - PowerPoint PPT Presentation

Oct 13, 2022 178 likes •406 views

FUTURE HUDSON PRESENTATI ON Strengthening Homes, Communities and Lives Guy Kempe VP Community Development RUPCO Our Mission is to create homes, support people and improve communities. Our Vision is for strong, vibrant and diverse

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FUTURE HUDSON

PRESENTATI ON

Strengthening Homes, Communities and Lives

Guy Kempe

VP Community Development

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RUPCO

▪ Our Mission is to create homes, support people and improve communities. ▪ Our Vision is for strong, vibrant and diverse communities with opportunity and a home for everyone.

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RUPCO

▪ Business lines and functions: ▪ Homeownership ▪ Property Management ▪ Rental Assistance ▪ Housing & Program Services ▪ Community Development ▪ Real Estate Development ▪ Own and Manage 20 scattered site properties ▪ Manage 588 units with 700+ tenants

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TRANSFORMING MID-TOWN KINGSTON

THE

METR O

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The Lace Mill Energy Square

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LACE MILL

▪ 55 units preferenced for artists ▪ Historic Preservation / Rehab ▪ Creative Placemaking ▪ Completed on 2015 Kingsto n

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LACE MILL

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LACE MILL

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LACE MILL

RESOURCES ($18.9M Project)

  • NYS LIHTC/SLIHTC

$5,713,461

  • NYS HTF $2,274,272
  • NYS (CFA) HCR UI $150,000
  • NYS (CFA) HCR NYMS

(Anchor) $250,000

  • NYSERDA - Solar $116,120
  • NYSERDA - Low Rise Res.

$138,500

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ENERGY SQUARE

▪ 57 units preference for Young Adults 18-25 ▪ New Construction, Net-Zero for living ▪ Mixed-income & mixed-use ▪ In construction – 40% complete

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ENERGY SQUARE

  • 71,000 square feet with 11,000 SF dedicated to civic

space, future home of Center for Creative Education for art, music & dance.

  • 57 Affordable Rentals, Net Zero for Living
  • 7 Apts. for at-risk young people, ages 18 to 24.
  • 100% energy consumed on-site is generated on-site.

Energy-efficient appliances, LED lighting, energy-efficient building envelope, 300 kW system capacity solar array with an annual production of 352,000 kWh.

  • In Construction, Occupancy January 2020
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ENERGY SQUARE

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ENERGY SQUARE

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ENERGY SQUARE

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ENERGY SQUARE

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ENERGY SQUARE

RESOURCES ($21.9M Project)

  • NYS HCR LIHTC/SLHTC

$6,509,976

  • NYS HCR Middle Income

$550,000

  • NYS HTF $2,400,000
  • NYS RESTORE $305,000
  • NYS CIF $2,000,000
  • NYS (CFA) CGCll (NYSERDA)

$1,000,000

  • NYSERDA - EnergyStar

$196,700

  • NYSERDA - Geothermal

$96,000

  • NYS ESSHI (op. subsidy)

$22,000 /year

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▪ Fully commercial development ▪ Affordable rents for community services and small businesses ▪ Purchased 2017, construction start by end

  • f 2019

▪ Development Cost: $16,390,000 In Developmen t

METRO

THE

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Planned Construction Sources

  • Construction Loan

$ 2,100,000

  • NYS HCR Community Investment

Fund $ 3,000,000

  • Foundation Grant (Construction)

$ 3,000,000

  • Foundation Grant (Predev)

$ 240,000

  • NYS HCR NY Main St Grant

$ 350,000

  • Empire State Development CFA (2016

& 2017 Awarded) $ 1,200,000

  • NTCIC Fed Historic Tax Credits

$ 1,500,000

  • NTCIC State Historic Tax Credits

$ 1,000,000

  • New Market Tax Credit Equity

$ 3,000,000

  • Deferred Developer Fee

$ 1,000,000

$ 16,390,00

THE METRO

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rupco.org

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Strengthening Homes, Communities and Lives