Santa Fe Civic Housing Authority (SFCHA), NM

Villa Alegre Family and Villa Alegre Senior Projects

Location:

St. Francis Dr. and Alta Vista St., Downtown Santa Fe

Description of Scope:

Comprehensive financial advisory services to SFCHA, as subcontractor to CVR & Associates, Inc. the lead development consultant, for planning, financing and development of 60 units of two and three bedroom family units and 50 units of one and two bedroom senior units.

Client:

SFCHA currently manages over 605 public housing units and 541 Section 8 Housing Choice Voucher qualified tenants. In addition to the 110 former units replaced by the Projects, the Authority manages two senior properties. The Authority is governed by a Board of Commissioners appointed by the City of Santa Fe and is managed by an Executive Director.

Project Description:

Villa Alegre redevelops 110 demolished public housing units on land leased by the City of Santa Fe to SFCHA located near downtown. The Villa Alegre Family project is an approximately 53,000 square foot project with units and a community center and Villa Alegre Senior is an approximately 35,000 square foot project with 50 units and a community center. Both projects incorporate two to four unit buildings in a "territorial style", mostly 1-story development. All units employ active photovoltaic solar panels and geothermal heating/cooling pump systems for strong energy conversation. The projects are expected to achieve LEED Gold certification.

Services Performed:

Villa Alegre Family services included assisting in preparation of the 9% competitive LIHTC application, upon award solicitation of equity and debt partners, negotiation of terms and conditions, and successful application for HUD Capital Fund Competitive Grant under the ARRA (stimulus act). Villa Alegre Senior services included assisting in application for private activity bond allocation from the state of NM, application for LIHTC allocation, application for HUD insured 221 (d) (4) risk share mortgage with the Mortgage Finance Authority of NM, solicitation for equity investor, negotiation of terms and conditions, selection of bond underwriter and oversight of public bond offering. Both Projects required filing of rental terms sheets with F-1 and other exhibits under the HUD "mixed finance" program including close work with HUD counsel in preparation and filing of the required evidentiaries therefore.