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Homestead Affordable Housing, Inc

Company Name
Homestead Affordable Housing, Inc
Contact Name
Tom Bishop
Contact Email
[email protected]
Contact Phone
(785) 364-6011
Company Website
https://www.homesteadks.org
Areas of Expertise & Interest
  • Single Family Subsidized
  • Single Family Market Rate
  • Duplexes - 4-Plexes
Subsidized Multifamily
  • 100 Units +
Mixed Market/Subsidized
  • 100 Units +
Senior Housing
  • Independent
Permanent Supportive Housing
  • Independent Living
Years of Experience
25
# of Projects Developed
17
# of Units Developed
526
Financial Expertise and Interest
  • Conventional
  • Private Activity Bonds
  • 501(c)3 Bonds
  • Moderate Income Housing
  • Home Funds
  • HUD Mortgage Insured
  • Low-Income Housing Tax Credit (LIHTC)
  • Industrial Revenue Bond (IRB)
  • State Historic Tax Credit
  • State Housing Trust Fund
  • Rural Housing Incentive District
  • Workforce Housing
  • HUD Direct Loans
  • Rural Dev. - 515
  • Loan Guarantees
  • Federal Historic Tax Credit
Development Methodology
  • New Construction
  • Mixed Use
  • Substantial Rehabilitation
  • Scattered Site
  • Modular/Component
  • Upper Floor
Geographic Preferences
  • Northwest
  • North Central
  • Northeast
  • Southwest
  • South Central
  • Southeast
  • Sedgwick County
  • Shawnee/ Douglas Counties
Participation Preferences
  • Sole developer of record
  • Development consultant
  • Industrial Development
  • Commercial Development
Questions/ Comments
Homestead Affordable Housing, Inc is a 501 (c) 3 non-profit developer that is a certified Community Housing Development Organization (CHDO). We partners with local communities to plan, build/develop, and manage affordable senior housing and workforce housing.

Our developments utilize IRB financing with local communities. We build high quality affordable housing that we ensure is affordable in the community in perpetuity.

As a non-profit we have a larger percentage of the development budget going into the brick and mortar hard costs with less going to support the profits of a commercial for profit developer.

Homestead Affordable Housing, Inc. - Corporate Resume 2021

603 Pennsylvania Ave, Holton, KS 66436 Phone 785-364-0110 Email [email protected]

Purpose and History - Homestead Affordable Housing, Inc. (HAH) was formed in September 1998 as a 501 (c) 3 non-profit and was certified as a Kansas Community Housing Development Organization (CHDO) in September 1999 with the purpose of;
• Developing affordable housing and assisting in creating sustainable communities in rural Kansas

Development Achievements - HAH has effectively developed a variety of multi-family and single family homes and housing programs, in partnership with rural Kansas cities. Each development and housing activity is designed to serve the housing needs of these cities specifically with the commitment to affordability in perpetuity.
Multi-family affordable senior developments - As an experienced housing developer, HAH has developed over $50 million in senior affordable housing with funding sources including; Low Income Housing Tax Credits (LIHTC), HOME, Housing Trust Funds, USDA RD 515, USDA RD 528, HUD Section 8, Private Activity Bonds, Historic Tax Credits, and Rural Housing & Economic Development (RHED) HAH develops the highest quality senior units, at very affordable rents, with amenities providing a high quality of life.

HAH Developed & Managed

Atchison Senior Residences LP 36
Brookside Senior Residences LLC, Augusta 48
Homestead Senior Residences Mulvane 40
Homestead Senior Residences Wamego 32
Junction City Senior Residences LP 33
Main St Place Sr Residences LLC [Haysville] 59
Homestead Rural Rehabilitation, Marion 40
Prairie View Senior Residences LLC, Holton 32
Homestead Senior Residences Derby, LLC 76
Homestead Sr Res Mulvane Phase II, LLC 24

HAH Developed, Owned & Managed

Homestead Senior Residences Harper 30
Homestead Senior Residences Holton 24
Homestead Senior Residences Russell 12
Marion II Senior Patio Homes 14
Workforce Housing Rentals, Holton 16
Homestead Senior Residences Hoyt 10

Total Development Cost $58,007,350 526 units

Asset and Property Management – All properties developed by HAH are managed professionally through a HAH subsidiary, Homestead Community Development, Inc. (HCD) The HAH Director of Property Management is responsible for the hiring and supervision of all site staff and all compliance and asset management functions. Each entity receives annual audits and compliance reports are filed with the supervising Kansas state agency, Kansas Housing Resources Corporation, Inc. (KHRC), USDA Rural Development (USDA RD) and investor members.

Fiscal Management – Accounting for HAH and the LIHTC entities is performed by HAH staff under the supervision of the HAH Finance Manager. HAH and each of the LIHTC entities receive annual audits. The finance operations has a relationship with the Kansas firm, Berberich Trahan & Co., P.A. (www.btandcocpa.com), who produces compiled fiscal statements, for submissions to the audit firm of Comer Nowling, Allisonville Road, Suite 120, Indianapolis, IN 46250 (www.comernowling.com)
Single Family – HAH has participated in a variety of single family housing development and finance activity in partnership with a number of rural Kansas communities. These include, or have included in our history the following;
• Loan Originator USDA Rural Development RD 502 Direct Loans – HAH has staff certified in the preparation and submission of loan applications for eligible families for the 33 year direct loans that can receive interest subsidy to as low as 1%.
• Emergency and Essential Repair – HAH utilizes a variety of grant programs and private donations to assist senior low income homeowners with emergency repairs including wheelchair ramps, handicapped baths, heating/AC, roofing, etc.
• Home buyer education – HAH provides home buyer education using the “Road to Home Ownership” materials and conducts trainings on financial management and home maintenance upon request.
• School district building partnerships – HAH has partnered with several school districts to build new homes for low income families while teaching building trades to high school students.
• Down payment assistance – HAH has assisted 1,023 families, in 196 different rural Kansas communities, with home sales totaling $66,612,012. Down payment grants of over $4 million.
Community engagement – HAH utilizes volunteer individuals and groups to assist in providing housing assistance to low income families and communities. HAH also seeks donated funds and grant funds to serve a variety of housing needs and the needs of seniors. These include;
• Beef for Seniors – HAH annually raises funds to purchase steers at the local 4-H fair and processes these steers locally to provide beef for the senior households in all our senior apartment communities.
• Raised bed gardens – HAH utilizes local volunteer groups to build raised bed gardens for our senior communities and other senior locations
• Home repair – HAH utilizes volunteer groups to build wheelchair ramps and complete other emergency and essential repairs
• NCCC AmeriCorps – HAH has sponsored teams of AmeriCorps members and utilized these teams for home rehabilitation and assistance of other community needs including Banner Lake, Boys & Girls Club, Heart of Jackson Humane Society, the city of Holton and Jackson County.

Leadership – Operating under a CHDO Board of Directors, HAH is led by Thomas (Tom) Bishop, President/CEO, who has been developing affordable housing in Kansas since 1986 and has served HAH since its founding in 1998. Finance Manager is Ms. Marsha Motto

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Cory Keller

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