Regular Board Meeting May 14, 2020 I. General Roll call Public - - PowerPoint PPT Presentation

Regular Board Meeting

May 14, 2020

• I. General
• Roll call
• Public comment
• Approval of April 16, 2020 Board Meeting minutes

Public Comment

Submitted via: E-Mail: publiccomment@ura.org Website: https://tinyurl.com/uraboard Public comments closed at 1:00 p.m.

• II. RFPs, RFQs & Bids
• Request for Proposals (RFP) for 2020 Housing Stabilization Program

(HSP) Program Providers

Request for Proposals (RFP) for 2020 Housing Stabilization Program (HSP) Program Providers

RFPS RFQS & BIDS

What you need to know: Date Issued: April 23, 2020 Non-mandatory Pre-Proposal Meetings: April 27 & May 11, 2020 Proposal Deadline: May 18, 2020

• III. Announcements
• COVID-19 Response
• Presentation of Small Business Recovery Fund Loan Guidelines
• 100th Down Payment and Closing Cost Assistance Loan Closed on May 1
• Roof-A-Thon – June 2020
• Jessica Smith Perry – Appointment to NALHFA Board of Directors
• Retirement of Tom Cummings
• Lower Hill Briefing and Presentations
• Developers’ Obligation for Public Infrastructure and Other

Improvements Utilizing the Lower Hill LERTA Retained Amount (Formerly the Lower Hill Development Fund)

• Greater Hill District Neighborhood Reinvestment Fund Guidelines

COVID-19 Response Update – Housing Support

ANNOUNCEMENTS AS OF MAY 8, 2020

COVID-19 Response Update – Housing Support

ANNOUNCEMENTS

• 750 calls for assistance received
• Approx. 1/2 of were outside of the City
• 81% of inquiries are for rental assistance
• 19% of inquiries are for mortgage assistance
• 1/3 of callers stated they are waiting on unemployment income
• 78% of households are 30% AMI and below
• 75% of all applicants state their need is related to COVID-19
• 86% of applicants are able to complete their intake paperwork completely remotely with a

smartphone or computer

• 16% are able to complete in-person intakes with the YWCA

Since March 19, 2020:

COVID-19 Response Update – Housing Support

ANNOUNCEMENTS

• 80% of households helped were minority households
• 56% were female head of households
• 35 applications received for mortgage assistance
• 50 applications received from from immigrant and refugee organizations, working with a

sponsor agency (Urban League)

• Roughly 220 applications currently in process right now with providers
• About 100 are on the waiting list
• Many of the initial calls were either ineligible (outside of city limits) or did not respond to

service providers

Since March 19, 2020:

COVID-19 Response Update – Small Business Support

ANNOUNCEMENTS AS OF MAY 8, 2020

Presentation: Small Business Recovery Loan Fund Guidelines

ANNOUNCEMENTS

Here’s what you need to know:

These Guidelines are contingent upon those slated to be issued by the US Dept. of Housing & Urban Development (HUD) in the near future.

• COVID-19 Small Business Recovery Fund will provide funds for Pittsburgh small businesses

affected by COVID-19 working to recover and position to stabilize/grow when the economy returns to pre-COVID-19 conditions

• Existing COVID-19 small business emergency fund will be merged into the program
• Targets neighborhood-serving small businesses, minority and/or women owned businesses,

businesses in low- and moderate-income communities, and small businesses most adversely affected by the COVID-19 crisis

• Two loan types: Recovery Loans and Emergency Loans

Small Business Recovery Fund Loan Details

ANNOUNCEMENTS

SMALL BUSINESS RECOVERY LOANS EMERGENCY LOANS

Loan Amount:

Up to $75,000 Up to $15,000

Interest Rate:

0% for first year 2% for balance of loan term 0%

Payment Deferral Period:

One (1) Year Six (6) months

Loan Terms:

Seven (7) Years Three (3) Years

Fees:

None None

Prepayment Penalties:

None None

Collateral / Security:

• Personal guarantees not required,
• Business & corporate guarantees as

appropriate

• Personal guarantees not required
• Business & corporate guarantees as

appropriate

Use of funds:

Hiring & Payroll, Inventory, Sales/Marketing, E-commerce, Rent, Utilities, and other approved fixed costs related to business recovery. Hiring & Payroll, Rent, Utilities, and other approved fixed costs related to business emergency operation needs.

100th Down Payment & Closing Cost Assistance Loan Closed on May 1!

Closings:

March 2019 – May 2020

ANNOUNCEMENTS

Roof-a-Thon – June 2020

ANNOUNCEMENTS

In June 2020, the URA in partnership with Wells Fargo, will conduct a citywide Roof-a-Thon to provide necessary roof repairs for low-income households across the city. Sponsors: Contractors:

Jessica Smith Perry - Appointment to NALHFA Board of Directors

ANNOUNCEMENTS

• NALHFA is national non-profit association of professionals

working to finance affordable housing in the broader community development context at the local level.

• Advocates before Congress and federal agencies on legislative

and regulatory issues affecting affordable housing and provides technical assistance and educational opportunities to its members and the public.

• Members include city and county agencies, nonprofits, and

private firms which help in producing housing from concept to completion.

Retirement of Tom Cummings

ANNOUNCEMENTS

• Tom joined the URA in 1990 as a

Housing Development Specialist

• In 2004, Tom was appointed Director
• f Housing
• Most recently served as the Director
• f Housing Development and Deputy

Executive Director of the Pittsburgh Housing Development Corporation (PHDC)

• Board Memberships:
• Board of the Residences of

Wood Street Commons

• Allegheny County Homeless

Advisory Board

• NALHFA

Thank you for your 30 years of service!

Briefing: Lower Hill LERTA Retained Amount Guidelines

ANNOUCEMENTS

Non-voting presentation of the Guidelines

Key Points:

• Establishes policies & procedures for the Retained

Amount (Formally, the "Lower Hill Development Fund")

• Purpose of this fund is to support the infrastructure

& other improvement to the Lower Hill site & the Greater Hill District that were originally to be paid using the Lower Hill Development Fund

• Eligible uses for consideration:
• Public infrastructure improvements
• Publicly-owned & dedicated structures

and facilities

• Redevelopment activities
• Affordable housing; public, urban open

space

Briefing: Greater Hill Neighborhood Reinvestment Fund Guidelines

DEVELOPMENT SERVICES

Non-voting presentation of the Guidelines Key Points:

• Establishes policies & procedures for the fund &

its community-driven advisory board

• Purpose of fund is to attract funding & generate revenue

to implement the goals, objectives, strategies, & process in the CCIP

• Eligible uses of the fund include:
• Administration, activities, & efforts consistent with the

CCIP

• Recurring revenue initiatives under community control
• Funding for Hill District Institutional Preservation
• Matching funds to leverage local, state, & federal programs

• IV. On Today’s Voting Agenda
• Residential Lending & Investments
• Business Solutions
• Development Services
• Agenda B

Residential Lending & Investments

• Financial Feasibility Services
• California-Kirkbride, Central Northside & Perry South - Northside

Properties Phase III

• Upper Hill - Pittsburgh Housing Development Corp. (PHDC) - Upper

Hill Rehabilitation for Resale

• Larimer - 133 Meadow Street

Financial Feasibility Services

RESIDENTIAL LENDING & INVESTMENTS

On April 15, the URA issued an RFP for financial feasibility services to conduct 3rd party financial reviews for housing, commercial, and/or mixed-use development projects seeking URA resources. The RFP deadline was May 6 and the URA received 12 responses.

RFP Responses:

• Affirmative Investments – Boston
• BJH Advisors – NYC
• David Paul Rosen & Associates – Lafayette,

CA

• Hunden Strategic Partners – Chicago
• JLL Capital Markets – Pittsburgh
• Palo Alto Partners – Pittsburgh
• Partners for Economic Solutions –

Washington DC

• Baker Tilly (now joined with Springstead) – St.

Paul, MN

• RKG Associates, Virginia
• SB Friedman Dev't Advisors – Chicago
• TCAM Asset Management –

Boston/Pittsburgh

• Mullin & Lonergan Associates – Pittsburgh

Northside – Scattered Sites Northside Properties Phase III

HOUSING INVESTMENTS

Action(s)

URA Funding Request: $1,050,000 Borrower: Northside Properties Residences III LLC Developer: Northside Properties R&S LLC $1,050,000 Pittsburgh Development Fund (PDF) Loan _____________________________ Total URA Investment = $1,050,000 70 Total Units

• 12 units at or below 30% AMI
• 31 units at or below 50% AMI
• 20 units at or below 60% AMI
• 7 units at or below 80% AMI

 MWBE Compliant

Total Project Cost: $25,175,445 Unit Breakdown:

• 70 total rental units (includes 1BR, 2BR, 3BR, 4BR, & 5BR):
• 12 units affordable at or below 30% AMI
• 31 units at or below 50% AMI
• 20 units at or below 60% AMI
• 7 units at or below 80% AMI

Other funding sources:

• Permanent first mortgage (Red Stone)
• URA RHDIP Loan
• URA HOF RGP Loan
• 4% LIHTC Equity
• HTC Equity
• Seller Note
• HUD Section 8 Housing Vouchers

Development Team:

• Northside Properties R&S LLC, Mistick Construction, Ralph
• A. Falbo, Inc., LGA Associates, Inc.

Additional Project Info

RESIDENTIAL LENDING & INVESTMENTS

Northside – Scattered Sites Northside Properties Phase III

Upper Hill- PHDC For-Sale Housing Development

RESIDENTIAL LENDING & INVESTMENTS

Action(s)

URA Funding Request: $297,500 Developer: Pittsburgh Housing Development Corp. (PHDC)*

*URA Affiliate Amending current agreements to increase grant/loan/deferred second mortgage funds awarded +

$212,500 Increase to PHCF grant + $50,000 Increase to PHCF Loan + $35,000 Increase to HRP-D Agreement _____________________________ Total New URA Investment = $297,500

5 Total Units

• 4 units will be affordable at or below

80% AMI

• 1 unit will be affordable at or below

100% AMI

• Total of 5 affordable units.

 MWBE Compliant

Total Project Cost: $1,296,695 Unit Breakdown:

• 5 total for-sale units:
• 4 units affordable at or below 80% AMI
• 1 unit affordable at or below 100% AMI

Other funding sources:

• Dollar Bank
• URA PHCF Loan
• URA PHCF Grant
• Heinz Endowments (via SHC)
• Seller Assist/Permanent Financing

Development Team:

• Pittsburgh Housing Development Corporation
• Schenley Heights Collaborative
• Various Subcontractors

Additional Project Info

RESIDENTIAL LENDING & INVESTMENTS

Upper Hill- PHDC For-Sale Housing Development

Larimer - 133 Meadow Street

RESIDENTIAL LENDING & INVESTMENTS

Action(s)

URA Funding Request: $115,000 Recipients: Mary & Martha Rose + 40,000 PHCF Grant + 75,000 NHP Loan _____________________________ = Total URA Investment = $115,000  MWBE Compliant

Total Project Cost: $279,150 One Single Family Affordable Home Other funding sources:

• Insurance Proceeds
• URA Lease Land Funds
• URA CNHAP Grant Funds
• Larimer Consensus Group Funds

Development Team:

• Studio Volcy (Alicia Volcy)
• Riverview Builders, Inc.

Mistick Construction

Additional Project Info

Larimer - 133 Meadow Street

RESIDENTIAL LENDING & INVESTMENTS

Business Solutions

• URA-Honeycomb Loyalty Bond Partnership

URA-Honeycomb Loyalty Bond Partnership

BUSINESS SOLUTIONS

Action(s)

Authorizes a contract with Honeycomb Credit to develop and administer the URA-Honeycomb Loyalty Bond Partnership

URA funds will:

• Provide up to 25% ($250) match
• n up to $1,000 in gift cards

purchased for 100 businesses in the City of Pittsburgh

• Cover the reduced $50 program

registration fees for each participating business Honeycomb Credit will administer the program and provide technical assistance to businesses to help them set up their campaigns.

Development Services

• Preliminary approval of Lower Hill Developer LLC and Conceptual Development

Plan

• Extension of Lower Hill Block E closing deadlines and extension of previous

Lower Hill Resolutions

Lower Hill: Approval of Developer and Conceptual Development Plan

DEVELOPMENT SERVICES

Action(s)

Preliminary Developer Approval

What this means: Provides initial approval for the developer Buccini/Pollin Group, Inc. to purchase a part of the Lower Hill site

• As a condition of the purchase, Buccini/Pollin

Group, Inc. must follow rules laid out in a separate Option Agreement

Preliminary Approval of Conceptual Development Plan

What this means:

• Provides initial approval of the developer's

conceptual plans (drawings) for the site, which currently include a 26-story mixed-use tower with:

• 382,000 square feet of office space
• 35,000 square feet of ground floor

retail

• 112 spaces of structured parking
• The board will approve final “shovel ready”

drawings at a future meeting

Total Project Costs: approximately $200 million

• 26-story mixed-use office tower containing:
• 434,000 square feet office space
• 20,000 square feet retail
• 110 structured parking spaces

Other funding sources:

• Private debt and equity investment
• LERTA

Development Team:

• The Buccini/Pollin Group, Inc., Gensler Architects,

Pittsburgh Penguins URA providing preliminary approval:

• Developer must present to URA board again for final approval
• f development

Additional Project Info

DEVELOPMENT SERVICES

Lower Hill: Approval of Developer and Conceptual Development Plan

DEVELOPMENT SERVICES

Lower Hill: Approval of Developer and Conceptual Development Plan

We are here

Extension of Lower Hill Block E closing deadlines & previous Lower Hill Resolutions

DEVELOPMENT SERVICES

Action(s)

Amendment of previous Resolutions (2019) to extend the closing deadlines from May 10, 2020, to December 10, 2020 What this means:

• Previously, the URA agreed to assist

Buccini/Pollin Group, Inc. with applying for public financing.

• The developer sought a parking tax
• diversion. Under this model, the

parking taxes generated on the site could potentially be diverted from the City to the developer. Diverted funds would be used to construct parking.

• The agreement to provide assistance
• riginally expired on May 10, but the

URA is voting to extend the expiration date to December 10, 2020.

Agenda B

Agenda B Items

AGENDA B

COVID-19 Response

• To support the URA's various COVID-19 response programs for business and housing relief,

authorization is requested:

• To accept donations, and to apply for/receive grants and capital contributions

(but not secured debt)

• For URA’s CFO to approve the movement of various internal URA funds and funding

sources

• Ratify the following COVID-19 related funding applications submitted before May 14, 2020:
• Pittsburgh Foundation - $400,000
• RK Mellon Foundation - $250,000, presented by Jessica Smith Perry
• Dollar Bank - $100,000
• Administrative waiver of Pilot Neighborhood Initiative Fund Guidelines for the North Side

Partnership Project to allow up to 25% of grant funds to be used for operational or administrative costs for hardships related to COVID-19

Certificate of Completion

• Upper Lawrenceville - Certificate of Completion for Tree Pittsburgh for Lot 3B in URA -Tippins Plan
• f Lots and authorization to return the Good Faith Deposit (commercial redevelopment).

Disclosures

• HOF Down Payment & Closing Cost Assistance - Approval of Antoine Broadwater to participate in

the Down Payment and Closing Cost Assistance program for a property located at 320 Copperfield Avenue, Pittsburgh, PA 15210. Mr. Broadwater is a City of Pittsburgh Public Works employee.

Funding Authorizations

• Authorization to apply for Department of Community and Economic Development’s Greenways,

Trails, and Recreation Program grants and, if required, enter into related grant contracts, subgrant and fee agreements.

• Broad Street Plaza, East Liberty - $250,000
• Summerset - Shelburne Park, Squirrel Hill/Swisshelm Park - $250,000

Agenda B Items

AGENDA B

Amendments

• Mackin Engineering Company - Amendment of Agreement (2017) with Mackin Engineering

Company for the Two-Way Traffic Conversion and Public Improvements Design Contract for Harvard/Beatty and Station Street and Euclid Avenue Two-Way Conversion in East Liberty, for an increase not to exceed $782,779.42

• Littler Mendelson PC - Amendment of Agreement (2017) with Littler Mendelson PC for employment

law services for an increase of $20,000, for a total Agreement amount of $170,000

• Amendment of Resolution No. 313 (2019) to waive the RHDIP Administrative Program Guidelines to

provide financing in excess of $40,000 per unit and to provide the financing in the form of a grant

Transfer of Funds

• Authorization for the transfer of $4M from Mortgage Revenue Bond Program (MRBP) to the

Commercial Lending Loan Fund source to be used for commercial lending

Agenda B Items

AGENDA B

Business Services

• Authorization to apply for and receive Minority Business Development Agency (MBDA) grants

through the US Department of Commerce in support of Catapult and Gallery on Penn

Agenda B Items

AGENDA B