1 finding housing opportunities for people with disabilities federal reserve bank of dallas – the...
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Finding Housing Opportunities for People with Disabilities
Federal Reserve Bank of Dallas – The DOFSeptember 14-15, 2011
Finding Housing Opportunities for People with Disabilities
Federal Reserve Bank of Dallas – The DOFSeptember 14-15, 2011
THE BUCK STARTS HERE
2www.thedof.org [email protected]
• PROVIDE INNOVATIVE CAPITAL-bridge & term loan
products-co-lending -gap financing -predevelopment-acquisition -construction-rehabilitation financing
• ORGANIZE THE MARKET• ENGAGE IN PUBLIC DIALOGUE
The RISE Fund provides
innovative financing and advisory
services to individuals and
organizations that develop
housing for people with disabilities.
Disabilities 101
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Handicapped
PUT THE “PERSON” FIRST
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NOYESDisabled Person
Handicapped
Confined to Wheelchair
The Disabled
“Retard”
“Crazy” or “Psycho”
Person with Disability
Physically Challenged
Wheelchair User
People with Disabilities
Person with Developmental Disability
Person with Mental Illness
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ADA
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Title I
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Title II
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Title III
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Title IV
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Education Law
The Disability Opportunity Fund presents
THE BUSINESS OF HUMAN DIVIDENDS
11www.thedof.org [email protected]
THEN
SUPREME COURTOLMSTEAD DECISION
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ASSET DEVELOPMENT
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IDA
EITC
ABLE ACCOUNTS
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21 Million18-65
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EMPLOYMENT37% vs. 79%
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12 millionSSI/SSDI
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Autism1 in 100
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VETERANS
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BOOMERS
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72,000,000 by 2030
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25% of Americansbetween 65-74 yrs have one or more disabilities
50% of Americansover 75 yrs have one or more disabilities
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May 14, 2008For the Disabled, Age 18 Brings
Difficult Choices
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TRENDS
RELIANCE ON GOVERNMENT-ONLY SOLUTIONS SHRINKING
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$$$
M&A
of
Voluntary Agencies
THE DOF PREDICTS:
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ROLE OF FAMILIES INCREASES
Community Development Financial Institutions in the United States
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957 Certified Community Development Financial Institutions as of 8/31/2011
NEW YORK 80
TEXAS 40
33www.thedof.org [email protected]
Community Development
Community Development Financial Institution
(CDFIs) and other intermediaries
Government
Fin.
Ret
urn
& C
RA c
redi
t Co
mm
unity
Impa
ct
Equity & D
ebt Financing
Users of Capital
Sources of Capital
Financial Institutions
Socially Motivated Investors
Foundations
Affordable Housing
Small Business
Other CD Purposes
Community Facilities
Charter Schools
Child Care Centers
$
$
THE
DOF
BANKS
CDFIs
DEVELOPERS
INVESTORS
GOV AGENCIES
SERVICE PROVIDERS
The DOF organizes
the market by
investing in socially
responsible“disability”
investments.
CASE STUDY #1: THE COTTAGE IN DARIEN
Problem: Six Sets of Parents Plan to Create
Home for Their Young Adults with Developmental Disabilities
Land House Capital
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CASE STUDY #2: SCIOTO PROPERTIES
Problem: For Profit Provider of Housing for People with Disabilities Needs Capital
Refinance New Capital$50,000 to
$50,000,000
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CASE STUDY #3: IMAGINE ACADEMY FOR AUTISM
Problem: How to double the size of a school for children with severe ASD
Acquire new land
Secure Construction
Financing
Refinance Permanent Financing
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Finding Housing Opportunities for People with Disabilities
Federal Reserve Bank of Dallas – The DOFSeptember 14-15, 2011
Finding Housing Opportunities for People with Disabilities
Federal Reserve Bank of Dallas – The DOFSeptember 14-15, 2011
516-465-3741 www.thedof.org 38