2024-02-15T18:51:39-05:00 2022-12-31 592309183 HUGHES SNELL & CO PA 1470 ROYAL PALM SQUARE BLVD FORT MYERS FL 339191082 990 2022-01-01 204985818 SOUTHWEST FLORIDA AFFORDABLE HOUSING CHOICE FOUNDATION INC SOUT 2393443220 4224 RENAISSANCE PRESERVE WAY FORT MYERS FL 33916 BRUCE STRAYHORN CHAIRMAN 2393443220 2024-02-15 true BRUCE STRAYHORN 999009999 true ERICA K HARP P00641949 2399392233 2024-02-15 2022 2023-04-26 12:10:37Z SW FLORIDA HOUSING FOUNDATION INC SIEGLINDE CHAMBLISS 4224 RENAISSANCE PRESERVE WAY FORT MYERS FL 33916 1813103 false X HACFM.ORG X 2008 FL DEVELOP AND PROVIDE AFFORDABLE HOUSING OPPORTUNITIES FOR LOW AND MODERATE INCOME PERSONS OR FAMILIES 7 7 0 0 292811 1296 4533516 1714301 76041 97506 0 4902368 1813103 0 0 0 0 0 1721643 1516495 1721643 1516495 3180725 296608 17591096 19344191 3292965 4764255 14298131 14579936 X PROVIDE AND DEVELOP AFFORDABLE HOUSING OPPORTUNITIES FOR LOW AND MODERATE INCOME PERSONS OR FAMILIES. false false 1242538 1714301 THROUGH AWARDS FROM THE NEIGHBORHOOD STABILIZATION PROGRAM (NSP) THE AGENCY CONSTRUCTED/PURCHASED 82 UNITS TO BE RENTED TO LOW INCOME PERSONS OR FAMILIES. THE AGENCY IS THE OWNER/MANAGER OF THESE UNITS. TO QUALIFY TO LIVE IN THESE DEVELOPMENTS, THE PERSON/FAMILY INCOME MUST BE BELOW 50% OF THE AREA MEDIAN INCOME; RENT IS BASED ON THE INCOME OF THE TENANT. DURING THE TAX YEAR, ADDITIONAL LAND WAS PURCHASED TO EXPAND AND FURTHER AFFORDABLE HOUSING. THE AGENCY ALSO PURCHASED AN AGE RESTRICTED PROPERTY WITH 60 UNITS IN MARCH 2020. 215159 THE AGENCY IS THE MANAGING GENERAL PARTNER IN TWO MIXED FINANCE PARTNERSHIPS; 1% OWNERSHIP IN EACH. THE DEVELOPMENTS, PLACED IN SERVICE IN 2014, CONSISTS OF 212 UNITS OF ACC PUBLIC HOUSING AND CONTRACT BASED SECTION 8 UNITS FOR LOW INCOME PERSONS/FAMILIES. THE DEVELOPMENTS ARE EAST POINTE PLACE AND THE LANDINGS AT EAST POINT. EXCESS CASH, PER THE PARTNERSHIP AGREEMENTS, IS DISTRIBUTED TO THE AGENCY ANNUALLY. THESE FUNDS ARE USED TO CONTINUE THE MISSION OF DEVELOPING AFFORDABLE HOUSING FOR LOW AND MODERATE-INCOME FAMILIES/PERSONS. THE AGENCY IS CURRENTLY WORKING TO DEVELOP 3 ADDITIONAL MIXED FINANCED PROPERTIES. 1. THE FOUNDATION PURCHASED LAND IN JUNE 2022 TO REPLACE THE ROYAL PALM PUBLIC HOUSING FACILITY WITH A NEW SENIOR FACILITY ON THIS PURCHASED LAND. NEW FACILITY IS CURRENTLY UNDER DESIGN IN 2023. 2. THE AGENCY HAS BEEN AWARDED TAX CREDITS TO BUILD PHASE II OF EAST POINTE PLACE AND IS PLACING 90 UNITS IN SERVICE BY WINTER 2023. 3. THE AGENCY HAS RETURNED THE AWARDED TAX CREDITS TO REHABILITATE THE PUBLIC HOUSING FACILITY BONAIR TOWERS. WE ARE PLANNING FOR/TO BUILD BACK ON THE ORIGINAL SITE AND SEEK FUNDING THROUGH THE STATE ARPA PROGRAM. 4. WE ARE PLANNING ON AN OFFSITE COMPONENT ON CLEVELAND AVENUE WITH OUR DEVELOPER PARTNERS TO BUILD 92 TAX CREDIT UNITS IN CONJUNCTION WITH THE CHOICE NEIGHBORHOOD IMPLEMENTATION GRANT AWARDED BY HUD. THE PROJECTED CLOSING FOR THIS PHASE IS FEBRUARY 24, 2024. 1457697 true false false false false false false false false false true false false false false false false true false false false false false false false false false false false true false false false false false false false false false false false false true true true true true false true 0 0 0 false false false false false false false false X 7 7 false false false false false false false true true false false true true true true true true true true false X X BRUCE STRAYHORN 2393443220 4224 RENAISSANCE PRESERVE WAY FORT MYERS FL 33916 X BRUCE STRAYHORN CHAIRMAN 2.00 2.00 X X 0 0 0 MATTIE YOUNG VICE CHAIR 1.00 1.00 X X 0 0 0 RICHARD FAIN DIRECTOR 1.00 1.00 X 0 0 0 MEG GELTNER DIRECTOR 1.00 1.00 X 0 0 0 MARCIA DAVIS PRESIDENT 5.00 40.00 X X 196474 0 0 SIEGLINDE CHAMBLISS SECRETARY/TR 1.00 1.00 X X 81478 0 0 ISRAEL SUAREZ DIRECTOR 1.00 1.00 X 0 0 0 277952 1 false true false 1296 1296 GROSS RENTS 1673555 1673555 MISCELLANEOUS INCOME 22117 22117 OTHER TENANT INCOME 18629 18629 1714301 97506 97506 1813103 1714301 97506 370995 337266 33729 22413 22413 3058 1223 1835 21234 21234 130717 130717 314635 314635 136243 136243 MAINTENANCE & MATERIALS 236325 236325 OTHER EXPENSES 115229 113229 2000 UTILITIES & GARBAGE 96287 96287 LAWN MAINTENANCE 63649 63649 5710 5710 1516495 1457697 58798 0 X 719296 1439495 5721487 4044185 6196 358730 248275 1518031 39695 52139 14487982 2556371 10856147 11931611 17591096 19344191 33228 53762 93556 686990 3166181 4023503 3292965 4764255 X 13014540 13363118 1283591 1216818 14298131 14579936 17591096 19344191 X 296608 -14803 X X false true X false false X 292811 1296 294107 567328 708221 1073026 4533516 1714301 8596392 567328 708221 1073026 4826327 1715597 8890499 8890499 2297 30825 60490 76041 97506 267159 2297 30825 60490 76041 97506 267159 569625 739046 1133516 4902368 1813103 9157658 0.97080 0.97940 0.03000 0.02000 X 2520526 2520526 11967456 2556371 9411085 11931611 false false false false false false false false false MARCIA DAVIS PRESIDENT 196474 196474 FORM 990 990, PART IV, 12A - THIS ENTITY WAS INCLUDED IN THE CONSOLIDATED AUDIT REPORT OF THE HOUSING AUTHORITY OF THE CITY OF FORT MYERS FOR THE FISCAL YEAR ENDED MARCH 31, 2023; A SEPARATE REPORT FOR SWFLAHCF FOR THE SAME 12 MONTH PERIOD WAS ALSO ISSUED. SINCE THE REPORTS WERE ISSUED ON A FISCAL YEAR, RATHER THAN A CALENDAR YEAR BASIS, THE ANSWER TO THE QUESTION IS "NO". THE INCOME AND EXPENSE ARE REPORTED IN THE SAME MANNER FOR BOTH REPORTING PERIODS. THERE ARE NO RECONCILING ITEMS OTHER THAN THE DIFFERENCE IN REPORTING PERIODS. 990, PART IX, 7, 8, 9, 10, 11A - SWFLAHCF HAS NO EMPLOYEES AND THEREFORE HAS NO ENTRIES ON LINES 7-10. SWFLAHCF REIMBURSES THE HOUSING AUTHORITY FOR PROPERTY MANAGEMENT AND MAINTENANCE STAFF AT COST PLUS 1% BASED ON ACTUAL TIME WORKED PURSUANT TO A SHARED SERVICES AGREEMENT. ALL SHARED SERVICES FEES PAID TO THE HOUSING AUTHORITY ARE INCLUDED ON LINE 11A. SCHEDULE D, PART VI - THE LAND AND BUILDINGS OWNED BY THE ENTITY ARE AFFORDABLE HOUSING RENTAL UNITS USED IN PERFORMING THE AGENCY'S EXEMPT PURPOSE, PROVIDING AFFORDABLE HOUSING TO LOW INCOME PERSONS/FAMILIES. FORM 990, PAGE 2, PART III, LINE 4B THE AGENCY IS THE MANAGING GENERAL PARTNER IN TWO MIXED FINANCE PARTNERSHIPS; 1% OWNERSHIP IN EACH. THE DEVELOPMENTS, PLACED IN SERVICE IN 2014, CONSISTS OF 212 UNITS OF ACC PUBLIC HOUSING AND CONTRACT BASED SECTION 8 UNITS FOR LOW INCOME PERSONS/FAMILIES. THE DEVELOPMENTS ARE EAST POINTE PLACE AND THE LANDINGS AT EAST POINT. EXCESS CASH, PER THE PARTNERSHIP AGREEMENTS, IS DISTRIBUTED TO THE AGENCY ANNUALLY. THESE FUNDS ARE USED TO CONTINUE THE MISSION OF DEVELOPING AFFORDABLE HOUSING FOR LOW AND MODERATE-INCOME FAMILIES/PERSONS. THE AGENCY IS CURRENTLY WORKING TO DEVELOP 3 ADDITIONAL MIXED FINANCED PROPERTIES. 1. THE FOUNDATION PURCHASED LAND IN JUNE 2022 TO REPLACE THE ROYAL PALM PUBLIC HOUSING FACILITY WITH A NEW SENIOR FACILITY ON THIS PURCHASED LAND. NEW FACILITY IS CURRENTLY UNDER DESIGN IN 2023. 2. THE AGENCY HAS BEEN AWARDED TAX CREDITS TO BUILD PHASE II OF EAST POINTE PLACE AND IS PLACING 90 UNITS IN SERVICE BY WINTER 2023. 3. THE AGENCY HAS RETURNED THE AWARDED TAX CREDITS TO REHABILITATE THE PUBLIC HOUSING FACILITY BONAIR TOWERS. WE ARE PLANNING FOR/TO BUILD BACK ON THE ORIGINAL SITE AND SEEK FUNDING THROUGH THE STATE ARPA PROGRAM. 4. WE ARE PLANNING ON AN OFFSITE COMPONENT ON CLEVELAND AVENUE WITH OUR DEVELOPER PARTNERS TO BUILD 92 TAX CREDIT UNITS IN CONJUNCTION WITH THE CHOICE NEIGHBORHOOD IMPLEMENTATION GRANT AWARDED BY HUD. THE PROJECTED CLOSING FOR THIS PHASE IS FEBRUARY 24, 2024. FORM 990, PAGE 6, PART VI, LINE 11B AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT REVIEWS THE FORM 990 WITH A MEMBER OF THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 12C EACH MEMBER OF THE BOARD OF DIRECTORS IS REQUIRED TO REVIEW AND EXECUTE A NEW CONFLICT OF INTEREST POLICY FORM ON AN ANNUAL BASIS. FORM 990, PAGE 6, PART VI, LINE 15A THE ORGANIZATION DOES NOT PROVIDE COMPENSATION TO ANY MEMBER OF ITS GOVERNING BODY. FORM 990, PAGE 6, PART VI, LINE 15B THE ORGANIZATION DOES NOT HAVE ANY OTHER OFFICERS OR KEY EMPLOYEES. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. ALL DOCUMENTS ARE MAINTAINED AT THE OFFICE OF THE HOUSING AUTHORITY OF THE CITY OF FORT MYERS, 4224 RENAISSANCE PRESERVE WAY, FORT MYERS, FL 33916. FORM 990, PART X DURING 2015 PC REDEVELOPMENT PARTNERS, LLC DISBURSED 600,000 TO THE HOUSING AUTHORITY, PER THE PARTNERSHIP AGREEMENT, IN PAYMENT OF THE LAND LEASE AGREEMENT. THE TAX CREDIT INVESTOR, WELLS FARGO, REQUIRED THAT THIS MONEY BE HELD IN A RESTRICTED BANK ACCOUNT BY SWFLAHCF. THE FUNDS WILL BE RELEASED PRO-RATA OVER 15 YEARS. BECAUSE THE INCOME WAS EARNED BY THE HOUSING AUTHORITY AND THE FUNDS ARE REQUIRED TO BE HELD IN SWFLAHCF, AN A/P - A/R WAS CREATED BETWEEN THE TWO ENTITIES. IT IS INTENDED THAT THE DEBT BE REPAID AS THE FUNDS ARE RELEASED BY THE BANK. DURING 2015 THE AGENCY CASH INCREASED 1,100,000; THIS CASH IS BEING HELD IN SEPARATE RESTRICTED ACCOUNTS BECAUSE OF RESTRICTIONS PLACED ON THE FUNDS BY THE TAX CREDIT PARTNER, WELLS FARGO. SWFLAHCF OWNS A MINORITY INTEREST IN TWO MIXED FINANCE AFFORDABLE HOUSING COMPLEXES, SABAL PALM PRESERVATION, LLC AND PC REDEVELOPMENT PARTNERS, LLC. DURING 2015 PURSUANT TO A LAND LEASE AGREEMENT BETWEEN THE HOUSING AUTHORITY AND THE TWO PARTNERSHIPS, 1,100,000 WAS PAID TO THE HOUSING AUTHORITY. THE PARTNERSHIP AGREEMENTS REQUIRE THAT THE FUNDS BE HELD IN RESTRICTED ACCOUNTS IN SWFLAHCF. THE FUNDS WILL BE RELEASED BY WELLS FARGO PRO-RATA OVER 15 YEARS. AS THE FUNDS ARE RELEASED BY THE TAX CREDIT PARTNER, THE FUNDS WILL BE RETAINED BY SWFLAHCF AND THE AMOUNT OF THE RESTRICTED ASSET WILL BE REDUCED. AS EXPLAINED ABOVE, THE 600,000 FROM PC REDEVELOPMENT PARTNERS, LLC WAS SET UP AS A PAYABLE TO THE HOUSING AUTHORITY. AS THE FUNDS ARE RELEASED BY THE TAX CREDIT PARTNER THE PAYABLE AND THE RESTRICTED ASSET WILL BE REDUCED. THE BALANCE REMAINING ON THIS RESTRICTED ASSET IS 252,797 AT DECEMBER 31, 2022. FORM 990, PART XI, LINE 9 CLAIM ON POOLED CASH -14,803 FORM 990, PART XII SWFLAHCF IS INCLUDED IN THE CONSOLIDATED AUDIT OF THE HOUSING AUTHORITY OF THE CITY OF FORT MYERS WHICH HAS A MARCH 31 FISCAL YEAR END. SWFLAHCF STATEMENTS ARE CONVERTED FROM A CALENDAR BASIS TO A FISCAL YEAR BASIS FOR INCLUSION IN THE CONSOLIDATED REPORT. THE BOARD OF COMMISSIONERS OF THE HOUSING AUTHORITY APPROVE THE SELECTION OF THE INDEPENDENT AUDITOR AND THE REPORT IS SUBMITTED TO THE BOARD UPON ISSUANCE. COCONUT COVE APARTMENTS LLC 4224 RENAISSANCE PRESERVE WAY FORT MYERS FL 33916 204985818 AFDBLE HSG FL SWFLAHCF BROADWAY I LLC 4224 RENAISSANCE PRESERVE WAY FORT MYERS FL 33916 204985818 AFDBLE HSG FL SWFLAHCF COVINGTON MEADOWS I LLC 4224 RENAISSANCE PRESERVE WAY FORT MYERS FL 33916 204985818 AFDBLE HSG FL SWFLAHCF STELLA APARTMENTS LLC 4224 RENAISSANCE PRESERVE WAY FORT MYERS FL 33916 204985818 AFDBLE HSG FL SWFLAHCF SABAL PALM I LLC 4224 RENAISSANCE PRESERVE WAY FORT MYERS FL 33916 204985818 AFDBLE HSG FL SWFLAHCF PC REDEVELOPMENT LLC 4224 RENAISSANCE PRESERVE WAY FORT MYERS FL 33916 320360772 AFDBLE HSG FL SWFLAHCF SWANSON LOOP LLC 4224 RENAISSANCE PRESERVE WAY FORT MYERS FL 33916 204985818 AFDBLE HSG FL SWFLAHCF THE HOUSING AUTHORITY OF FORT MYERS 4224 RENAISSANCE PRESERVE WAY FORT MYERS FL 33916 596702584 HSG PROGRM FL 501C3 10 N/A false PC REDEVELOPMENT LLC 4224 RENAISSANCE PRESERVE WAY FORT MYERS FL 33916 320360772 AFDBLE HSG FL N/A C CORP false SABAL PALM 1 LLC 4224 RENAISSANCE PRESERVE WAY FORT MYERS FL 33916 352428035 AFDBLE HSG FL N/A C CORP false false false false false false false false false false false true false false false true false false false false THE HOUSING AUTHORITY OF FORT MYERS K 7350 COMPARABLES THE HOUSING AUTHORITY OF FORT MYERS O 356550 SHD SVC CONTRACT COST +1% PC REDEVELOPMENT LLC L 1106 ACTUAL COSTS SABAL PALM I LLC L 1079 ACTUAL COSTS SCHEDULE R THE HOUSING AUTHORITY OF THE CITY OF FORT MYERS OWNS/MANAGES NUMEROUS LOW INCOME HOUSING PROGRAMS/PROPERTIES, INCLUDING THE SECTION 8 HOUSING CHOICE VOUCHER PROGRAM, FOUR (4) PUBLIC HOUSING DEVELOPMENTS, AND VARIOUS HUD GRANTS. ALL OPERATE UNDER EIN 59-6072584; EACH RECEIVE DESIGNATED FUNDING AND MAINTAIN SEPARATE ACCOUNTING. THE SAME SEVEN (7) MEMBER BOARD GOVERNS THE HOUSING AUTHORITY OF THE CITY OF FORT MYERS AND THE SOUTHWEST FLORIDA AFFORDABLE HOUSING CHOICE FOUNDATION, INC. (THE FILING ENTITY) SCHEDULE R, PART IV, 1 - SWFLAHCF OWNS 100% OF PC REDEVELOPMENT, LLC. PC REDEVELOPMENT, LLC OWNS 1% OF PC REDEVELOPMENT PARTNERS, LLC, 45-3911519, A PARTNERSHIP OWNING A MIXED FINANCE DEVELOPMENT CONTAINING 12 ACC PUBLIC HOUSING UNITS AND 74 PROJECT BASED SECTION 8 UNITS FOR LOW INCOME FAMILIES. THIS HOLDING IS THE RESULT OF THE HOUSING AUTHORITY REDEVELOPING 100 ACC PUBLIC HOUSING UNITS THROUGH THE LIHTC PROGRAM. SCHEDULE R, PART IV, 2 - SWFLAHCF OWNS 100% OF SABAL PALM 1, LLC. SABAL PALM 1, LLC OWNS 1% OF SABAL PALM PRESERVATION, LLC, 45-3911671, A PARTNERSHIP OWNING A MIXED FINANCE DEVELOPMENT CONTAINING 126 PROJECT BASED SECTION 8 UNITS FOR LOW INCOME FAMILIES. THIS HOLDING IS THE RESULT OF THE HOUSING AUTHORITY REDEVELOPING 200 PROJECT BASED SECTION 8 UNITS THROUGH THE LIHTC PROGRAM. SCHEDULE R, PART V, 1K - SWFLAHCF RENTS OFFICE SPACE FROM THE HOUSING AUTHORITY WHERE IT MAINTAINS CENTRALIZED MANAGEMENT OFFICES FOR THE 142 UNITS UNDER SWFLAHCF. SCHEDULE R, PART V, 1O - SEE SCHEDULE O NOTE FOR PART IX 7, 8, 9, 10, 11A.