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Homes For America Inc

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Nonprofit Overview

Causes: Homeless & Housing, Housing Development, Construction & Management

Mission: Homes for america, inc. Was incorporated for the purpose of developing and preserving housing for low and moderate income households and special needs populations.

Programs: See schedule ohomes for america carried out its mission by serving 7,788 low income persons in its rental communities. The average income of households in communities that are age restricted to seniors 62 years and older was $18,937 and 35. 5% of all the senior households had annual income below $15,000. The average income of households in general occupancy housing was $19,846 and 41. 4% had income below $15,000. Homes for america development activities included the following: 1. Completed renovations on a 52 unit section 8 property in pocomoke city, maryland. 2. Completed construction on a 60 unit artist community in the city of baltimore. 3. Completed construction on a 48 unit family community in odenton, maryland. 4. Acquired and began renovation on a 189 unit public housing project in the city of baltimore. 5. Began renovation on an 81 unit section 8 family community in annapolis, maryland. 6. Began construction on a 63 unit family community in salisbury, maryland. 7. Completed construction of a 59 unit section 8 family community in frederick, maryland. 8. Received an award of low income housing tax credits and other funds to renovate 58 homes throughout the baltimore region for specific public housing residents. Homes for america also provided asset management services for 70 communities in the organization's portfolio; the organization performs regular site inspections, monitors insurance policies and closely tracks all financial and operating aspects of its properties during lease up and operations. Key asset management accomplishments during the year included:1. Continued the practice of making the portfolio more energy efficient and applied for grants for energy conservation improvements for three properties; 2. Initiated exit of limited partner in a 54 unit elderly property in sykesville, maryland with transaction to be completed in august 2017. 3. Completed refinance of first mortgage of a 60 and 30 unit property located in prince frederick, maryland. 4. Completed the buyout of the investor limited partner for a 40 unit property in newport news, virginia which has reached the end of its initial 15 year low income housing tax credit compliance period. Hfa also managed resident service programs and activities at 70 multifamily communities (30 serving families, and 40 serving seniors). Leveraged grant fund received by the organization to supplement property budgets to support service costs at the communities. Total expenditures for resident services from hfa resources, property budgets, grants and contributions were approximately $700,000. The communities are supported by a multitude of service organizations within the local community. Continued to rank resident services based on established service standards for senior and family housing communities.

see schedule o homes for america, is the sole member of homes for bridgeville, llc, which is included herein. Homes for bridgeville, llc, a 50-unit apartment community, has service and program accomplishments serving its families that consist of an afterschool homework club, grab & go summer feeding program, english as second language classes, summer camp with transportation, monthly mobile food pantry, and quarterly health and wellness education. A computer lab is available to residents and public transportation is available for those qualifying for the service.

homes for america, inc. Is the sole member of several llc's which are included herein. Corner house hfa, llc holds an investment in fountain place associates limited partnership, bay forest hfa llc holds an investment in homes for annapolis limited partnership, gateway village i hfa, llc holds an investment in salisbury senior housing limited partnership, and hfa y15lp llc holds an investment in chestnut square limited partnership and glenburn associates limited partnership.

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