Housing Presentation.pdf

Financial Literacy and Housing Counseling

REQUEST FOR PROPOSALS PRESENTATION

FEBRUARY 20, 2025

Presenter Notes Presentation Notes Good morning, everyone! Thank you, Emmett, for the information you provided. My name is Devon Newton, and I work at SC Housing. I am the Project Manager for the Single Family Replacement Affordable Housing project that is part of the SCDOT’s I-526 Lowcountry Corridor West interstate improvement project. I will go through the presentation and then we’ll do questions at the end. So let me give you a little more background about the program.

Introduction I-526 Lowcountry Corridor interstate improvement project

Impacted communities: Highland Terrace, Liberty Park, Russelldale, Ferndale

Single-Family Replacement Affordable Housing

Financial Literacy and First-Time Homebuyer counseling and workshops

Income eligibility: up to 150% Area Median Income (AMI)

Presenter Notes Presentation Notes The I-526 Lowcountry Corridor WEST interstate improvement project will improve the flow of traffic on I-526 by redesigning how I-526 and I-26 connect, widening I-526 between Paul Cantrell Boulevard and Virginia Avenue from two to four lanes in each direction, and improving many of the ramps.

The impacted communities are Highland Terrace, Liberty Park, Russelldale, and Ferndale.

SCDOT is collaborating with SC Housing to assist with the construction, sale, and mortgage financing of single-family housing units in and around the Communities impacted by the interstate project by putting out an RFP for a local nonprofit to construct 45 housing units in those communities. Displaced households will be prioritized, but will be available to anyone living in the communities.

We understand that some households may not be financially or credit ready to purchase a home, so SCDOT will partner with a nonprofit to provide financial literacy and first-time homebuyer counseling/workshops to all residents of the impacted communities. This educational offering is intended to assist participants as they attempt to secure residential loans and transition from renters to homeowners. The counseling will continue until the completion of the right-of-way phase in 2027.

SCDOT invites qualified providers to submit proposals for housing counseling services targeting displaced households and other residents within the impacted communities. Households with incomes up to 150% of the Area Median Income (AMI) qualify for these services.

Purpose and Goals

Empowerment through Education

Support for Homeownership

Presenter Notes Presentation Notes Let’s talk about the purpose and goals of this project We want to Empower through Education The program aims to empower residents by providing comprehensive financial education that covers essential topics such as budgeting, credit management, and savings strategies. Participants can make informed financial decisions that support their long-term economic aspirations and stability.

And then we want to Support Homeownership A key goal is to facilitate the transition from renting to homeownership by offering targeted resources and guidance for first-time homebuyers. This includes assistance with understanding mortgage options and navigating the application process.

Program Requirements

1. Housing Counselors must be HUD-certified.

2. Housing Counselors/Counseling Agencies must track and report the number of individuals receiving assistance. Reports are to be submitted on a quarterly basis throughout the term of this agreement.

3. Housing Counselors must prioritize displaced households and residents of the Communities affected by the Project.

4. The selected agency must have or be able to set up a local office in the North Charleston area to better serve residents.

Timeline

RFP Application Deadline March 11, 2025

Award Announcements April 8, 2025

Program Launch June 1, 2025

Annual evaluations June 1, 2026 June 1, 2027

Project Close-Out December 31, 2027

*The above dates are expected time frames for the program. SCDOT may adjust dates set forth above as needed to meet program requirements and address community needs.

SCOPE OF WORK

Outreach and Marketing

Housing Counseling

Connect to Resources

Application Assistance

Presenter Notes Presentation Notes Outreach and Marketing: Market and promote homeownership counseling services to local residents on a continual basis throughout the contract term. Use marketing methods to specifically target those households impacted by the Project.

Housing Counseling: Provide comprehensive homeownership education, including but not limited to, pre and post-purchase classes, credit counseling, budgeting, and financial literacy. Tailor services to meet the needs of individuals, whether through group workshops or one-on-one sessions.

Connect to Resources: Maintain and provide resource information for First Time Homebuyers Programs, Down Payment Assistance Programs, and contact information for lenders and real estate agents specializing in affordable housing and low-to-moderate income homebuyers.

Application Assistance: Assist potential homeowners in gathering necessary documentation for mortgage applications, the SC Housing First-Time Homebuyers Program, the SCDOT First-Time Homebuyers Program, and any other homeownership programs for which they may be eligible.

Reporting Requirements

Number of Households

Assisted Number of

Persons Assisted Demographic data (Race, ethnicity, gender) Income data

Veteran status Disability status Number of participants successfully housed

Presenter Notes Presentation Notes You may have additional data that you track and report on which is fine.

Budget and Funding Allocation

SCDOT has allocated a total of $250,000 to counseling and education services for the Project.

Up to $100,000 for the first year, subject to renewal based on performance and need.

Applicants should propose a budget based on demonstrated need that they can reasonably expect to expend on services over the course of one year.

SCDOT reserves the right to partially fund an application and reallocate funding if expenditure deadlines are not met.

Major Evaluation

Criteria

Experience and Capacity

Financial Health Assessment

Project Design and Budget

Presenter Notes Presentation Notes Experience and Capacity:

A robust organizational background is crucial, as it directly impacts the effectiveness of service delivery and the overall success of the program in meeting community needs.

Level of Staff Experience with similar programs Quantity of Staff time dedicated to the program Level of Organizational Experience with similar programs Size of previous programs Financial Health Assessment:

A thorough review of financial documents, including audits and operating budgets, will determine an applicant's ability to sustain operations, manage funds responsibly, and maintain program effectiveness over time, which is vital for long-term success.

Project Design and Budget The project will be scrutinized for its clarity and effectiveness, focusing on service comprehensiveness, data tracking methods, and realistic outreach capacity to meet community needs.

Types of Services Frequency/accessibility Outreach Referral and intake Recording and reporting data Proposed number of households assisted Does the budget look reasonable and can it support the proposed Program design?

Resources

• WEST — I-526 Lowcountry Corridor

• eCFR :: 2 CFR Part 200 -- Uniform

Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards https://www.526lowcountrycorridor.com/west https://www.ecfr.gov/current/title-2/subtitle-A/chapter-II/part-200

Questions?