Parish of Caddo Housing Trust Fund - Sheldon Bartel National Development Council April 10, 2023
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Parish of Caddo
Housing Trust Fund
Sheldon Bartel
National Development Council
April 10, 2023
E. Edward Jones Housing Trust Fund
• Established by Caddo Parish Ordinance No. 5683 in 2017
• Response to studies demonstrating:
• High incidence of cost burdened renters in the Parish
• Declining housing affordability in the Parish
• Rental housing needs in the Parish
• Goals
• Provide affordable and quality infill rental units
• Facilitate homeownership, mixed use development, and encourage
private investment
• Make loans or grants or combination thereof, for the public purpose
of providing affordable housing, both rental and owner occupied
2
Defining “Affordable” and Related Terms
Housing that is “Affordable”
Housing where the household is spending no more than 30% of their gross
income on housing costs. Households that spend more than 30% of their
gross income on housing costs are considered “housing cost-burdened.”
Market Rate Housing
Housing where the sales price or rental rate is determined by what
households are willing to pay.
“Affordable Housing” or “Subsidized Housing”
Housing where government subsidies/incentives are provided to an owner or
occupant of housing in order to reduce the household’s housing costs.
Restricted sales prices/rents are usually enforced through a deed restriction
or contract.
*Not all “affordable” housing units have sales prices/rents that are limited to 30% of a
household’s gross income.
3
Defining “Affordable” and Related Terms
Naturally Occurring Affordable Housing (NOAH)
Housing that is offered at lower-than-average rental rates due to its age,
location, lack of amenities, and lack of upkeep. NOAH housing is often not
decent, safe, and sanitary. If a NOAH property is sold and rehabbed, the rents
will also rise.
Mixed-Income Housing
A housing development that includes some housing units where the
sales/rental rate is restricted and other housing units where the sales/rental
rate depends upon what households are willing to pay (i.e. market-rate).
Low Income
HUD defines low income as households earning 80% or less than area median
household income.
• 80% or less than area median household income = $34,522 or less
4
Single Family
Duplex
Small Apartment Complex
Condos
Large Apartment Complex
Mixed Use Development
Key Federal Housing and Community Development
Programs
Community Development Block Grant (CDBG)
Program provides federal grants directly to larger urban cities and counties for activities that
benefit low- and moderate-income individuals, eliminate blight, or address a serious and
immediate threat to public health and welfare. States distribute CDBG funds to smaller cities and
towns. Grant amounts are determined by a formula based upon need.
HOME Investment Partnership (HOME) Grants
Program provides formula grants to States and localities that communities use—often in
partnership with local nonprofit groups—to fund a wide range of activities that build, buy, and/or
rehabilitate affordable housing for rent or homeownership or provide direct rental assistance to
low-income people. Delivered by Louisiana Housing Corporation.
Section 8
Program provides housing vouchers to assist very low-income families, the elderly, and the
disabled to afford housing in the private market. Housing choice vouchers are administered
locally by public housing agencies (PHAs.) A housing subsidy is paid to the landlord directly by the
PHA on behalf of the participating family. The family then pays the difference between the actual
rent charged by the landlord and the amount subsidized by the program.
11Caddo Parish Population Characteristics
Source: Census, ACS, 2021
5 Year Est
ACS 2021 5 Year ACS 2016 5 Year
Change
Caddo Parish Estimate Percent Estimate Percent Percent
Total population 239,775 253,125 -5%
Male 113,979 47.5% 120,312 47.5% -5%
Female 125,796 52.5% 132,813 52.5% -5%
Under 5 years 15,625 6.5% 18,014 7.1% -13%
5 to 9 years 15,136 6.3% 16,727 6.6% -10%
10 to 14 years 16,955 7.1% 17,038 6.7% 0%
15 to 19 years 15,141 6.3% 16,206 6.4% -7%
20 to 24 years 14,145 5.9% 17,310 6.8% -18%
25 to 34 years 32,510 13.6% 35,644 14.1% -9%
35 to 44 years 29,641 12.4% 30,155 11.9% -2%
45 to 54 years 27,605 11.5% 31,516 12.5% -12%
55 to 59 years 15,647 6.5% 17,668 7.0% -11%
60 to 64 years 16,097 6.7% 15,295 6.0% 5%
65 to 74 years 24,685 10.3% 21,027 8.3% 17%
75 to 84 years 11,006 4.6% 11,149 4.4% -1%
85 years and over 5,582 2.3% 5,376 2.1% 4%
Median age (years) 38.3 (X) 36.8 (X) 1.50
12Caddo Parish Household Characteristics
Source: Census, ACS, 2021
5 Year Est
2021 ACS 5 Year 2021 ACS 5 Year
Change
Estimate Percent Estimate Percent Percent
HOUSEHOLDS
Total households 94,311 97,497 -3.3%
Average household size 2.49 2.54
Householder living alone 65 yrs
12,732 14% 11,310 12% 13%
and over
Households with own children of
22,139 23% 24,983 26% -11%
the householder under 18 years
Living in
1-unit structures 67,810 71.9% 70,783 72.6% -4%
2-or-more-unit structures 18,485 19.6% 18,232 18.7% 1%
Mobile homes and all other
8,016 8.5% 8,482 8.7% -5%
types of units
FAMILIES
Total families 56,807 60,908 -7%
Average family size 3.29 3.28
Ratio of Families to Households 60% 62%
13Caddo Parish Household Characteristics
Source: Census, ACS, 2021
5 Year Est
2021 ACS 5 Year 2016 ACS 5 Year Change
Estimate Percent Estimate Percent
Household Size
1 person 32,973 35% 32,467 33.30% 2%
2 person 30,446 32% 31,687 32.50% -4%
3 person 14,242 15% 15,307 15.70% -7%
4 or more person 16,650 18% 17,939 18.40% -7%
Total 94,311 100% 97,497 100%
14Caddo Parish Housing Characteristics
Source: Census, ACS, 2021
Percent Owner- Percent owner- Renter- Percent renter-
YEAR Occupied
occupied occupied occupied occupied occupied
STRUCTURE housing units
housing units housing units housing units housing units housing units
BUILT
2020 or later 47 0.0% 19 0.0% 28 0.1%
2010 to 2019 5,458 5.8% 3,947 7.0% 1,511 4.0%
2000 to 2009 10,135 10.7% 6,616 11.7% 3,519 9.3%
1980 to 1999 23,445 24.9% 13,895 24.6% 9,550 25.3%
1960 to 1979 33,467 35.5% 18,434 32.6% 15,033 39.8%
1940 to 1959 16,846 17.9% 10,265 18.2% 6,581 17.4%
1939 or earlier 4,913 5.2% 3,361 5.9% 1,552 4.1%
Total 94,311 56,537 37,774
15Caddo Parish Housing Characteristics
Source: Census, ACS, 2021
Occupied Percent Owner- Percent owner- Renter- Percent renter-
UNITS IN STRUCTURE housing occupied occupied occupied occupied occupied housing
units housing units housing units housing units housing units units
1, detached 65,394 69.3% 48,768 86.3% 16,626 44.0%
1, attached 2,378 2.5% 1,203 2.1% 1,175 3.1%
2 apartments 2,058 2.2% 215 0.4% 1,843 4.9%
3 or 4 apartments 4,371 4.6% 272 0.5% 4,099 10.9%
5 to 9 apartments 4,111 4.4% 17 0.0% 4,094 10.8%
10 or more apartments 7,939 8.4% 101 0.2% 7,838 20.7%
Mobile home or other
type of housing 8,060 8.5% 5,961 10.5% 2,099 5.6%
Total 94,311 56,537 37,774
16Caddo Parish Housing Characteristics
Source: Census, ACS, 2021
5 Year Est
2021 ACS 5 Year 2016 ACS 5 Year Change
Estimate Percent Estimate Percent
Owner occupied housing rate 56,492 59.9% 58,791 60.3%
Median value of houses with mortgages ($) $167,200 $152,600 10%
Median value of houses without mortgages ($) $118,600 $99,900 19%
Median gross rent ($) $845 $736 15%
Median household income ($) $43,153 $40,815 6%
Fair Market Rent 2023 ($) 2023 2016 5 Year Change
Efficiency 708 580 22%
1 bedroom 857 692 24%
2 bedroom 1,009 819 23%
3 bedroom 1,258 1,033 22%
4 bedroom 1,389 1,123 24%
17Caddo Parish Housing Cost Burdened
Source: Census, ACS, 2021
5 Year Est
2021 ACS 5 Year 2016 ACS 5 Year Change
Monthly housing cost as a percentage of household income in the last 12 months
Income Less than $20,000 19,860 21.06% 20,572 21.10% -3%
Housing cost is 30%> 15,312 16.24% 16,185 16.60% -5%
Income is $20,000-34,999 16,059 17.03% 17,744 18.20% -9%
Housing cost is 30%> 9,508 10.08% 8,677 8.90% 10%
Income is $35,000- 49,999 11,777 12.49% 13,260 13.60% -11%
Housing cost is 30%> 3,672 3.89% 3,120 3.20% 18%
Income is $50,000-74,999 13,984 14.83% 14,332 14.70% -2%
Housing cost is 30%> 1,540 1.63% 1,365 1.40% 13%
Income is $75,000 and up 27,950 29.64% 25,837 26.50% 8%
Housing cost is 30%> 622 0.66% 780 0.80% -20%
Total Cost Burdened Population All Incomes 30,654 32.50% 30,127 30.90% 2%
18SUMMARY
• 60 years and over only segment growing, many living
alone
Parish population
• Mostly fixed incomes
declining and aging
• Impacts on workforce, housing, schools, public and
social services etc
• Only grew 6% over last 5 years
Parish Median Household
• Rents increased 15% or more over same 5 years
Income = $43,153
• Home values increased 10% or more over same 5 years
60% of households
earning $50k or less pay
• Biggest impact on those Households earning between
more than 30% of income $20k and $75k
on housing costs –
housing cost burdened
19SUMMARY CONTINUED
Multifamily developments (3 or more units) are 18% of total available
housing stock
Equal number of renters (44%) living in both multifamily and single-
family housing
83% of Parish housing stock constructed prior to 2000
• Impacts housing quality and costs
There is a need for housing that is affordable and affordable housing
in the Parish
• Homeowner
• Renter
• Seniors
• Disabled
Providing a full range of housing choices is one of the most
fundamental elements of a vibrant and livable community.
20HOUSING TRUST FUNDS
• They are dedicated funds that are held
in trust to be used to provide
affordable housing and housing that is
affordable.
• The agencies that administer them can
take many forms, such as a local
What is a housing department, a multi-city
housing trust agency, or a private nonprofit
fund? organization.
• It provides local officials with a vehicle
to coordinate and leverage a complex
array of state and federal programs to
fashion a housing strategy that is
tailored to the community’s unique
needs, conditions, and political culture.
21HOUSING TRUST FUNDS
Because • Some programs give people a leg up
on the economic ladder by helping
housing trust them become homeowners and
funds are build equity.
created, • Programs can also give people with
administered, physical or developmental
disabilities the opportunity to live
and operated more independently and participate
locally, local more extensively in community life.
officials can use • Housing trust funds can help make
sure that the people who teach in
them to the classrooms, respond to
reinforce a emergencies, or police the streets
wide range of aren’t priced out of the market and
have a chance to live in and be even
community more a part of the communities
goals: they serve.
22HOUSING TRUST FUNDS
• HTFs across the nation funded by:
• Dedicated Housing Fees -many jurisdictions have
established commercial linkage fees or housing impact
fees on commercial or residential development
projects. The fees are used to support the development
of housing affordable to employees living in or
attracted to the community. Examples:
• Condominium conversion fees for converting rental
units to ownership
• Inclusionary housing programs/fees - jurisdictions
have adopted inclusionary housing programs that
require new developments meeting certain criteria
to provide a percentage of affordable housing as a
condition of development. These programs
generally allow in-lieu fees to be paid as an
alternative to direct construction of the required
housing.
23HOUSING TRUST FUNDS
• HTFs across the nation funded by:
• A portion of Tax Increment in designated
redevelopment areas
• Discretionary local revenues – examples include
general fund appropriations or a designated portion of
existing local revenue sources, such as a share of the
local sales tax or transient occupancy tax.
• Grant & Charitable Contributions
• Repayments from HTF Revolving Loan programs
• Funds can be used to address priority needs or fill gaps not
covered by other housing programs with more rigid rules
or requirements.
• Unlike most state and federal housing programs, local
housing trust funds have fewer predetermined conditions
restricting their use.
24HOUSING TRUST FUNDS
Listed below • Provide Direct Financing and Leverage Other
Funds.
are some of • make loans or grants to fill the shortfall (or
“gap”) in financing needed to make projects
the most work
• offer funding up front, enabling the project
typical sponsors to seek additional funding from
other sources
examples of • provide loan guarantees to other funders
the uses • Reduce the Cost of Borrowing
• make low-interest loans to both developers
housing trust and first-time homebuyers.
• Low-interest developer financing can help
funds reduce the cost of debt and make the initial
financial planning for an affordable housing
support and project “pencil out.”
• For homebuyers, small loans can be made
the types of for down payment assistance or to cover
closing costs. This up-front cash often makes
assistance the difference between purchasing a home
and renting for many low and moderate-
they provide. income families.
25HOUSING TRUST FUNDS
• Funds are used to increase the ability of local
nonprofit (or even for-profit) developers to overcome
the difficulties of providing housing to the lowest
Build Capacity income households
• Many housing trust fund agencies provide advice and
assistance to developers engaged in these kinds of
projects
• Some trust funds set aside resources to assist low-
Preserve and income homeowners to maintain and repair their
homes to preserve the supply of affordable housing in
Maintain the community.
Affordable • Some trust funds may also step in to help nonprofit
housing organizations purchase rental properties that
Housing go on the market, to keep them affordable over the
long term.
Provide Long-Term • Through rental assistance programs, the fund provides
a financial subsidy to the family renting the unit rather
Rental Assistance than the developer who built the unit
and Prevent • Assist low-income homeowners to prevent foreclosure
on their mortgages when they have financial
Foreclosures difficulties
26HOUSING TRUST FUNDS
• Benefits
• Consistency – dedicated revenue streams create a regular
(but likely fluctuating) source of funds to invest in housing
that is not put at risk during the budgeting process.
Multiple sources add stability.
• Flexibility - allows local jurisdictions to focus their housing
trust fund to meet the highest priority local needs, whether
it is transitional housing for the homeless, homeownership
opportunities for residents with moderate incomes, or
permanent housing for very low-income families
• Leverage - used to attract—or leverage—additional private
and public money to affordable housing projects.
• Economic Multiplier – each $1 HTFs invested generates
economic activity – construction, management etc.
27HOUSING TRUST FUNDS
Typical uses for HTFs
• Permanent affordable rental housing, including
supportive housing for populations with special needs
• Residential mixed-use developments
• Adaptive reuse of historic schools, warehouses, and other
structures into housing or mixed-use developments
• Acquisition of land to provide local sites
• Rehabilitation of existing affordable homes and
apartments
• Transitional or emergency housing and homeless shelters
28HOUSING TRUST FUNDS
Typical uses for HTFs
• Preservation of assisted housing (such as purchase of
apartments when Section 8 contracts expire)
• Rental assistance for lower income residents
• Foreclosure prevention and rehabilitation loans or
grants for owner-occupants
• Home weatherization and emergency repairs
• Homeownership assistance, including down payments,
closing costs and mortgage assistance
• New homebuyer counseling and education
29QUESTIONS?
• About information provided?
• Parish HTF has limited funds and capacity at this
time……
• Who should the HTF serve?
• What target populations will the trust fund
aim to serve with its programs?
• What types of housing services/assistance
should be provided?
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