Affordable Pricing & Resale Formulas for SEH Set. 2021 by https://padlet.com/bdube6/a8kaoyb127elzaxt Home-base for course participants to introduce themselves and chat with colleagues. en-us 2021-09-14 18:39:25 UTC 2021-09-16 19:14:34 UTC hello@padlet.com https://padlet-uploads.storage.googleapis.com/758936827/e36cb40371556b8571db147bffe62f05/Grounded_Solutions_Network_CMYK_big_mark2.png Jake Soper - City of Lakes Community Land Trust (CLCLT) - Minneapolis, MN https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743684786 2021-09-15 18:27:36 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743684786 Mim McConnell, Sitka CLT, Alaska https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743685415 We started out with Appraisal base when the CLT was set up with Michael Brown back in 2014. ]]> 2021-09-15 18:27:51 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743685415 https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743685503 Donna Schenck-Hamlin, Workforce Solar Housing Partnership, Manhattan KS]]> 2021-09-15 18:27:53 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743685503 Olivia Williams - Madison Area CLT (WI) https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743685638 Fixed rate would be easier and more "Fair" to some of our homeowners, where appraisals have been odd on certain properties.
I would like to switch to fixed rate from appraisal based but I am confused about how to offer an alternative capital improvement policy]]> 2021-09-15 18:27:57 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743685638 Mia Carbajal, Richmond LAND, Richmond, CA https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743686340 2021-09-15 18:28:11 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743686340 https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743686845 Elsie Garfield-West Side CLT, Charlotte, N.C> ]]> 2021-09-15 18:28:23 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743686845 Bill Adams Decatur Land Trust https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743687836 2021-09-15 18:28:41 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743687836 Karen Nemsick - Supportive Housing Community Land Alliance https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743688510 Update:  still sticking with fixed rate.  Our objective is stable housing over wealth generation.  

We have not launched yet, but I think we're looking at appraisal based.]]> 2021-09-15 18:28:54 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743688510 https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743688538 Akeria Brown
Arlington County, VA Govt 
AMI Index]]> 2021-09-15 18:28:55 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743688538 index based https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743689078 2021-09-15 18:29:08 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743689078 rob roake-neighborworks salt lake, SLC Utah. of course, depends on the index https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743689150 2021-09-15 18:29:10 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743689150 Anna Kochersperger - State College Community Land Trust, State College, PA https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743689156 I am back to thinking maybe a fixed rate formula, but perhaps we need to lower the percentage rate, but to balance that with a more generous capital improvement credit ]]> 2021-09-15 18:29:10 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743689156 Tenisha Gist - Northwest Arkansas (Fayetteville) - Partners for Better Housing https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743689241 2021-09-15 18:29:12 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743689241 what is the most common index used? https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743689666 2021-09-15 18:29:22 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743689666 changing formula - making it fair https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743690010 if we change our resale formula, would it be appropriate to offer the option to resale at different rates to our existing homeowners? Different homes have had issues with the appraisal based formula]]> 2021-09-15 18:29:31 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743690010 Kristin Allin, Decatur Land Trust, Decatur GA https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743690480 Fixed, due to greater chance of maintaining affordability.
- 2% "feels right" but still not sure exactly what factors we should review before settling on this percent?
- Does this always used fixed rate (vs compounding)?
- What's the best way to account for renovations in this type of formula?
- I think using the appraisal or fixed rate price (lower of the two) accounts for a down market, right? ]]> 2021-09-15 18:29:43 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743690480 Matt Rhodes https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743690678 Alexandria Housing Development Corp.
Alexandria, VA

1. Fixed rate 1.5%
2. Easiest to administer and explain to buyers. Also maintains affordability and appears to limit additional down payment subsidy required of City, etc. to future buyers.
3. More information on the community's/homeowner preference.]]> 2021-09-15 18:29:48 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743690678 Looking at using AMI index https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743691058 2021-09-15 18:29:57 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743691058 Uniondale Community Land Trust - Index https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743691329 2021-09-15 18:30:03 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743691329 Zachary Sharp https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743691740 Habitat For Humanity, Portland OR]]> 2021-09-15 18:30:13 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743691740 John Churchville Northwest CLT Corporation Philadelphia PA https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743692196 2021-09-15 18:30:23 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743692196 Ashli Morris - Frederick County Affordable Housing Land Trust- Frederick, MD https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743692944 the housing land trust is part of Habitat for Humanity of Frederick County, MD ]]> 2021-09-15 18:30:42 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743692944 ease of admin https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743741341 2021-09-15 18:51:13 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1743741341 How to find wage data? Home price data? https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746518438 Had trouble finding these things]]> 2021-09-16 16:40:25 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746518438 A CLT we work with determined the pricing based on the equity necessary to secure a mortgage from a partner lender. The formula increases the base through simple interest of 2.5% per year. https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746518967 2021-09-16 16:40:39 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746518967 Median Income Index based seems better for our area since job wages are not keeping up with housing prices. https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746529365 2021-09-16 16:45:34 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746529365 Fixed rate https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746529456 Should we establish a floor--ie. not go below certain amount?]]> 2021-09-16 16:45:37 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746529456 Can you add more about this idea of AMI not matching prevailing wages? https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746532107 2021-09-16 16:46:49 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746532107 Chelsea Ray https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746538732 2021-09-16 16:49:48 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746538732 Hybrid models were mentioned, could these address shortfalls of other systems? I imagine complexity might be one barrier to using these https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746544217 2021-09-16 16:52:17 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746544217 Coming to realize AMI is not the best index for using index based in our community, too many wealthy investors https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746594448 2021-09-16 17:14:37 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746594448 considering moving to fixed rate from appraisal based https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746599470 2021-09-16 17:16:57 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746599470 Index Based Formulas https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746601250 One of the biggest challenges with the AMI index based formula is communicating it with the residents (especially in other languages) and providing examples/projections to help illustrate it. What do you recommend doing to best communicate it?]]> 2021-09-16 17:17:50 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746601250 Fixed rate seems the most fair, easiest to explain. I need to spend some time figuring out what is the best fixed rate. I will also look at CPI since i know AMI already is kooky for our area https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746669620 2021-09-16 17:49:14 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746669620 Want to switch! https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746674233 Fixed rate would be easier and more "Fair" to some of our homeowners, where appraisals have been odd on certain properties.
I would like to switch to fixed rate from appraisal based but I am confused about how to offer an alternative capital improvement policy
- Olivia at Madison Area CLT]]> 2021-09-16 17:51:23 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746674233 What is Opal's fixed rate? https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746676641 2021-09-16 17:52:33 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746676641 Now considering fixed rate, but must be ready to explain basis, and alignment with CLT goals https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746685846 2021-09-16 17:56:58 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746685846 I would like to switch to fixed rate but am still unsure how to transition people to new capital improvement policy https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746824940 2021-09-16 19:12:39 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746824940 Perfect would be fixed rate https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746826058 2021-09-16 19:13:24 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746826058 Likely the best https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746827859 2021-09-16 19:14:34 UTC https://padlet.com/bdube6/a8kaoyb127elzaxt/wish/1746827859