Q&A
ANCP costs, AMI targeting, and budget discussion
2:00:49
·
143 sec
HPD officials discuss the costs and budget for the Affordable Neighborhood Cooperative Program (ANCP), highlighting its low AMI targeting and high per-unit costs. Council Member Diana Ayala expresses concern about the limited number of units that can be produced given the budget.
- ANCP targets around 40% AMI, but is one of the costliest programs
- Per-unit cost for ANCP projects is just under $600,000
- Annual budget for ANCP is approximately $135 million
Ahmed Tagani
2:00:49
I think it's just to add also this is one of those programs where it's at one of our lowest points of AMI setting for the main So we heard earlier trying to set I think it's around 40% of AMI, but it does come at a great it is the costly it's one of the costly programs that we have, and it's more than double other programs.
2:01:10
So an important commitment to make, but because of what what we're trying to do here, it's a a large drain of capital source.
Kim Darga
2:01:18
I mean, just to take that, like, a point further.
2:01:21
So the the ANCP projects in the last year of costs just under $600,000 per unit for us to renovate and put on a path to our homeownership.
2:01:35
That is a commitment we are we are absolutely dedicated to.
2:01:40
It is a good example of how, you know, this is just as we're trying to figure out how to do everything, right, financing new and financing that at the same time.
2:01:50
These are the types of things that become really difficult to juggle.
2:01:54
We would like to make sure we move that pipeline as quickly as possible, but before we think about where we're putting additional resources.
Diana Ayala
2:02:01
What is the budget for that that particular program.
Kim Darga
2:02:05
This year, it's, I think, got, like, a 135 ish,000.
Adrienne E. Adams
2:02:11
Yeah.
2:02:11
No.
2:02:11
100.
Kim Darga
2:02:13
I mean, 114.
2:02:14
I
Matthew Dunbar
2:02:14
was
Kim Darga
2:02:14
a little
Diana Ayala
2:02:15
When you divide that by 600,000 per They'll Yes.
2:02:19
Not a lot of units.
Kim Darga
2:02:20
Yes.
2:02:21
We would we would like to do more.
2:02:23
One of the things that slowed that pipe down pipeline down a little bit recently with a lot of staff turnover.
2:02:29
Now we have a great team, but It was taking a minute to understand the issues that residents were raising about the debt, some of the reluctance to move.
2:02:43
And I know there's a lot of concern given how long it's taken, I am not going to dismiss that, right, because it has been a long time since they entered city ownership.
2:02:52
But making sure that they felt like they were working with partners they could rely on, and that's where, like, we've been testing out this model where the residents have a choice of developer.
2:03:04
And so that slowed down some of the projects a little bit, but we've tested it now, and we feel like there's a good approach there and we're ready to move forward.
Diana Ayala
2:03:12
So they're, like, 5 year plan, a 10 year plan to
