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Nonprofit Overview
Causes: Homeless & Housing, Low-Income & Subsidized Rental Housing
Mission: To preserve and develop low income subsidized rental housing for low income families, seniors, and disabled residents using government incentives and financing in addition to developing housing programs and self sufficiency programs to assist the low income housing residents.
Programs: Progressive rural housing apartments prha -- prha is an rural development affordable housing preservation scattered site project consisting of 25 buildings with a total of 107 units. Prha has an existing assumable usda 515 1 50-year amortization loan with an attached rental assistance subsidy. Detroit affordable homes, inc. Dah acquired and commenced construction in february 2016 using low income housing tax credits 1. 8m from the oaklahoma housing finance agency under their 4 tax exempt program. In addition, the project assumed the existing usda 515 subordinate loan 2. 2m and placed a new usda 538 permanent loan 2. 95m on the project. The renovation 2. 7m consisted of all interior units flooring, kitchens, baths, paint, energy saving fixtures, water saving devices, energy efficient appliances, hvac, doors and windows. In addition, exterior repairs done to roofs, sidewalk and parking lot concrete and some landscaping.
guardian apartments ga -- ga is an affordable housing preservation project consisting of one 4-story building with 100 1-bed/1-bath units. The project has an existing project based section 8 hud hap contract with a restrictive covenant for seniors 62 and older and/or disabled persons with incomes at or below 60 of the area median income under hud guidelines. Dah acquired and commenced renovations in september 2015 using low income housing tax credits 4m under the montana board of housing 9 housing tax credit program. Dah also placed a conventional permanent loan 4. 1m from a local bank. In addition, dah applied for a hud home grant 1. 6m of which . 4 was obtained in 2017 from the montana department of commerce to do an exterior phase ii renovation on the exterior that will mainly consist of siding, landscaping, membrane roof, parking/sidewalk resurface and solar panels.
franklin school apartments fsa -- fsa is an affordable housing preservation project consisting of two 3-story buildings with 40 3-bed/1-bath units. The project has an existing project based section 8 hud hap contract serving persons with incomes at or below 60 of the area median income under hud guidelines. Dah acquired and renovated fsa in 2009-2010. As owner, dahs main duty is asset management to make sure the project stays in compliance under section 42 of the irc for the low income housing tax credit program.