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THE IMMEDIATE MOMENT,[Press Conference: "Scott Street Lofts Grand Opening"]
UH, WE'RE HAPPY YOU COULD JOIN US TODAY.
I'M DAVID COOGLER WITH MARK DANA CORPORATION.
UH, WE DEVELOPED, BUILT, AND, AND MANAGED THE PROPERTY.
OUR CONSTRUCTION COMPANY, LER CONSTRUCTION, UH, BUILT IT.
OUR, OUR MANAGEMENT COMPANY, MARK DANA MANAGEMENT MANAGES IT, BUT WE HAVE HELP, UH, ON THE CONSTRUCTION.
WE PARTNERED WITH URBAN PARTNERSHIPS COMMUNITY DEVELOPMENT CORPORATION, AND ON THE MANAGEMENT, WE PARTNER WITH FDI MANAGEMENT GROUP.
WITH ME TODAY ARE DAVE KUGLER AND MARJORIE KLER, MY MOTHER AND FATHER, AND CO-FOUNDERS OF MARK DANA.
UM, WE ALSO HAVE ZACH CAVENDER, OUR VICE PRESIDENT, KELLY MOZ.
THEY'RE, THEY'RE WANDERING AROUND HERE SOMEWHERE.
UM, UH, VICE PRESIDENT OF ACCOUNTING AND ASSET MANAGEMENT, FRANCINE POWERS ACCOUNTING, UH, MANAGER, UH, TAYLOR PAY, SENIOR DIRECTOR LARRY BLAZER, OUR, UH, PROJECT ANALYST.
AND THEN WITH KUGLER CONSTRUCTION, OSCAR AL, OUR VICE PRESIDENT OF CONSTRUCTION.
AND HECTOR HERNANDEZ, OUR CONSTRUCTION SUPERINTENDENT.
AND DANIEL MA, OUR, OUR, UH, PROJECT MANAGER ALSO WITH ME ARE MY WIFE, HEATHER, BY THE, OVER THERE BY THE T UH, FIREPLACE, MY SON BRADEN, AND MY DAUGHTER MADISON.
UM, I'D ALSO LIKE TO TAKE A MOMENT TO, UH, INTRODUCE YOU TO, UH, JULIE, JULIE HARLAN, WHO IS A PROPERTY MANAGER, AND, UM, OVER THERE AND, UH, DIANE KENNY, UH, VICE P, UH, SORRY, PRESIDENT AND CEO OF, UH, FDI AND MICHELLE FARMER, UH, REGIONAL VICE PRESIDENT, ALONG WITH THEIR, THEIR TEAM HERE TODAY.
YOU'LL RECOGNIZE 'EM BECAUSE THEY'RE WEARING RED POLOS WITH THE FDI LOGO.
IF YOU HAVE AN INTEREST IN BECOMING A RESIDENT, UM, PLEASE VISIT WITH ONE OF THEM.
UM, AND THEY, THEY WILL BE GIVING TOURS ALSO, UH, IN A LITTLE BIT.
SO, UM, JUST REAL BRIEFLY, A LITTLE BIT ABOUT SCOTT STREET LOSS.
UH, IT'S A MIXED INCOME DEVELOPMENT, 123 UNITS FOR SENIORS.
UM, THE INCOMES AND THE RENTS ARE AFFORDABLE TARGETING RENTS, AND THE 30%, 50%, 60 AND 80% AREA MEDIAN INCOME RANGES.
AND THEN WE HAVE ABOUT, UM, UH, 20% OF THE UNITS ARE MARKET RATE.
IT WAS FINANCED WITH, UH, TAX EXEMPT BONDS AND 4% TAX CREDITS THROUGH TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS.
UM, IMPORTANTLY, UH, THE CDBG DISASTER RECOVERY FUNDS, UH, FROM HUD THROUGH THE TEXAS GLO AND ALLOCATED AND ADMINISTERED, UM, BY THE CITY OF HOUSTON.
UH, WE ALSO HAVE A CONSTRUCTION LOAN FROM AMEE BANK.
UH, OUR TAX CREDIT INVESTOR, UH, IS, UH, RBC COMMUNITY INVESTMENTS, AND WE HAVE A PERMANENT LOAN, UH, FROM JLL AND, AND FREDDIE MAC.
UH, WE ARE HONORED TODAY TO HAVE WITH US, UH, THE HONORABLE SYLVESTER TURNER MAYOR OF HOUSTON.
UM, I BELIEVE, UM, THE HONORABLE CHRISTINA MORALES, UH, MEMBER OF THE TEXAS HOUSE OF REPRESENTATIVES, DISTRICT 1 45, UM, WILL BE HERE.
I HAVEN'T SEEN HER COME IN, BUT I THINK SHE'LL BE HERE.
UH, THE HONORABLE, UH, ROBERT GALLEGOS, COUNCIL MEMBER, HOUSTON CITY COUNCIL DISTRICT.
I, UM, AND, UH, MR. KEITH BYNUM, UH, DIRECTOR OF THE HOUSTON HOUSING AND COMMUNITY DEVELOPMENT DEPARTMENT, UH, CHIEF PENA, UH, CHIEF OF POLICE, FIRE, FIRE, FIRE.
I KNEW I WAS GONNA MAKE A MISTAKE.
I JUST WAS HOPING IT WASN'T THIS EARLY.
UM, AND THEN, UH, DIRECTOR BUGS, UH, WITH COMPLETE COMMUNITIES.
UH, THE, UH, THE, UM, I WOULD LIKE TO INTRODUCE, UH, MR. SALINAS, WHO WILL DO THE INVOCATION AFTER THAT, MAYOR TURNER WILL MAKE, UH, HIS WELCOMING REMARKS, AND THEN SOME OF OUR HONORED GUESTS WILL SPEAK, FOLLOWED BY SOME OF OUR FINA FINANCE PARTNERS.
AND THEN THE EAST END CHAMBER OF COMMERCE WILL DO THE, THE CEREMONIAL RIBBON CUTTING.
AND, UM, THEN AFTER THAT F FEEL FREE TO STAY, TAKE A TOUR OF THE PROPERTY, UH, ENJOY THE FOOD, ENJOY, AND, UH, JUST GET TO KNOW SCOTT STREET LOSS.
SO, UH, WITH THAT, UH, MR. SALINAS,
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AND THIS IS BOWER HEADS, HOLD LORD ALMIGHTY.BE CLOSE TO YOUR SERVANTS WHO HAVE MOVED RIES APARTMENTS AND WILL MOVE IN AND ASK, THEY ASK FOR YOUR BLESSING.
BE THEIR SHELTER WHEN THEY ARE OUT AT HOME, THEIR COMPANION WHEN THEY'RE AWAY, AND THEIR WELCOME GUESTS WHEN THEY RETURNED, AND AT LAST, RECEIVE THEM INTO THE DWELLING PLACE YOU PREPARED FOR THEM IN YOUR FATHER'S HOUSE.
WILL YOU LIVE FOREVER AND EVER? MAY THE PEACE OF CHRIST RULE IN OUR HEARTS, AND MAY THE WORD OF CHRIST IN ALL ITS RICHNESS DWELL IN US.
SO WHATEVER WE DO IN WORD AND IN WORK, WE WILL DO IN THE NAME OF THE LORD.
WELL, OF, OF COURSE, THE MAYOR NEEDS NO INTRODUCTION, BUT LET ME RECOGNIZE THAT WITHOUT HIS LEADERSHIP AND FOCUS ON AFFORDABLE HOUSING, SCOTT STREET LOFTS AND OTHER PROJECTS, LIKE IT WOULD NOT BE POSSIBLE.
SO, WITH THAT, PLEASE JOIN ME IN THANKING HIM FOR MAKING THIS PROJECT POSSIBLE.
AND LOOK, IT'S, IT'S JUST, UM, I A DELIGHT TO BE HERE TODAY, UH, FOR THE RIBBON CUTTING THAT WILL BE TAKING PLACE VERY, VERY SOON.
DAVID, LET ME THANK YOU AND YOUR ENTIRE TEAM, UH, FOR YOUR INCREDIBLE, INCREDIBLE WORK.
UM, I CERTAINLY WANT TO ACKNOWLEDGE ALL OF MY, UH, DIRECTORS WHO ARE HERE, UH, OF COURSE, KEITH BYNUM WITH HOUSING, UH, CHIEF PEN WITH FIRE SHANNON, UH, BUGS WITH COMPLETE COMMUNITIES, UH, EVERYONE THAT'S AFFILIATED.
BUT BEFORE I GET STARTED, I, UH, I'M THE MAYOR, BUT, UH, UH, MUCH OF THESE THINGS HAPPEN JUST BELOW ME.
UH, SO KEITH, LET ME, LET ME ASK YOU TO COME JUST TO ACKNOWLEDGE ALL OF THE WONDERFUL PEOPLE WITH HOUSING AND COMMUNITY AFFAIRS.
ISN'T IT A BEAUTIFUL DAY? AND IT'S A BEAUTIFUL PROJECT AS WELL.
UH, ALL OF THE HEAVY LIFTING GOES ON BEHIND THE SCENES, AS THE MAYOR SAYS, AND I WOULD LIKE TO WELCOME AND THANK MY TEAM, UH, UNDER THE DIRECTION OF DEREK SOLIS, WHO'S THE DEPUTY DIRECTOR IN CHARGE OF, OF OUR PRODUCTION SIDE, AND ALL OF THE MEMBERS OF HOUSING AND COMMUNITY DEVELOPMENT.
WOULD YOU WAVE YOUR HANDS AND SHOW 'EM? I SEE MY COMMUNICATIONS TEAM, MY MULTI-FAMILY TEAM, AND SOME OF THE MULTI-FAMILY TOOK CARE TOOK OVER WHEN, UH, WITH, UH, UNDER RYAN, UH, RYAN BIBBS.
BUT BEFORE THAT, UH, UH, WHERE IS HE? I SAW HIM, MAN, THERE HE IS.
RAY MILLER WAS THE, WAS THE PERSON WHO STARTED THIS PROJECT.
SO GIVE HIM A BIG ROUND OF APPLAUSE.
AND ONCE AGAIN, WANT TO THANK ALL OF THOSE.
UH, IT'S A, IT'S A HEAVY LIFT TRYING TO GET PROJECTS FROM A TO Z AND LOOK WHAT HAPPENS WHEN WE DO IT ALL TOGETHER.
I'LL TURN IT BACK OVER TO THE MAYOR.
UH, WITHOUT THE STAFF, THESE THINGS SIMPLY DO NOT GET DONE.
SO I REALLY WANT THEM TO KNOW HOW MUCH WE APPRECIATE, UH, THEM DO WANT TO ACKNOWLEDGE, UH, BLE HUNTER, THE CHIEF OF STAFF.
I APPRECIATE HER EFFORTS IN ALL OF THESE, UH, IN ENDEAVORS.
AND LOOK, WE HAVE, WE'VE COME A LONG WAY IN JUST OVER TWO YEARS.
UH, SCOTT STREET LOSS BROKE GROUND IN NOVEMBER OF 2020, UH, DURING THE HEIGHT OF COVID-19 PANDEMIC.
AND DESPITE THE CHALLENGES AND SUPPLY ISSUES BROUGHT ON BY THE PANDEMIC, SCOTT STREET LAWS WERE COMPLETED IN OCTOBER OF 2022.
UH, AS DAVID SAID, THIS NEWLY CONSTRUCTED 123 UNIT DEPARTMENT COMMUNITY SERVES SENIORS IN HOUSTON, SECOND WARD.
UM, ONE THING I CAN SAY THAT I'VE HEARD REPEATEDLY FROM PEOPLE IN, UH, SECOND WARD EAST END, IS MORE HOUSING, MORE HOUSING, MORE HOUSING, UH, AND AFFORDABLE HOUSING.
AND, UH, AS YOU HAVE HEARD, UH, WITH, UH, 80% OF THESE 123 UNITS FOR AFFORDABLE HOUSING, ANYWHERE FROM 30 TO TO 80% OF A MI, UH, THAT IS A, THAT'S A GOOD THING.
ON THAT NOTE, I'M PROUD TO ANNOUNCE THAT AGAIN, THE 73 UNITS ARE ALREADY OCCUPIED, AND MOST OF THE REMAINING ARE PRE RELE, UH, PRE-LEASE A TESTAMENT TO THE NEED FOR HIGH QUALITY RENTAL HOMES, UH, IN THIS AREA.
IN FACT, IF I CAN JUST ADD EVEN FURTHER, UH, WE NEED AFFORDABLE HOUSING ALL OVER THE CITY OF HOUSTON.
SO IT'S JUST NOT ONE AREA, BUT ALL OVER, UH, BUILT TO BRONZE NATIONAL GREEN BUILDING STANDARDS.
UH, THE COMMUNITY FEATURES ONE AND TWO BEDROOM UNITS ON SITE AMENITIES, THE REGULARLY SCHEDULED PROGRAM AND EVENTS FOR RESIDENTS, PHYSICAL, EDUCATIONAL AND EMOTIONAL WELLBEING.
I THINK THERE'S A SWIMMING POOL HERE AS WELL.
UM, AND COMMUNITY HAS EASY ACCESS TO SHOPPING, RESTAURANTS, BANKS, GROCERY STORES, PHARMACIES,
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MEDICAL OFFICES, RELIGIOUS INSTITUTIONS, AND OTHER NEIGHBORHOOD AMENITIES.BUT MOST IMPORTANTLY, SCOTT STREET LOSS WAS DESIGNED TO ACCENTUATE THE CITY'S DESIRE FOR TRANSIT ORIENTED DEVELOPMENT.
SITUATED ALONG THE METRO LIGHT RAIL PURPLE LINE, SCOTT STREET L ALLOWS, ALLOWS RESIDENTS TO ACCESS AND ACCESS AND TRAVEL AROUND THE CITY WITH, WITHOUT THE NEED FOR A VEHICLE.
UH, THE CITY PROUDLY CONTRIBUTED, UH, $14.5 MILLION IN C IN C-D-B-G-D-R 17 FUNDS TO THE CONSTRUCTION OF THIS COMMUNITY.
THIS ENDEAVOR COULD NOT HAVE HAPPENED WITHOUT THE ASSISTANCE OF OUR COUNTERPARTS AT THE STATE LEVEL.
SO I CERTAINLY WANT TO ACKNOWLEDGE ALL OF OUR STATE PARTNERS, UM, THAT HELPED TO MAKE THIS HAPPEN AND OUR FEDERAL PARTNER, UM, FOR HELP FROM, FROM OUR, UH, TO MAKE THIS HAPPEN AS WELL.
UH, REDDICK EVER LET ME ACKNOWLEDGE YOU AND FORGOT YOU FROM THE HOUSTON FINANCIAL CORPORATION.
CERTAINLY APPRECIATE YOU AS WELL.
UH, HUD HAS BEEN INSTRUMENTAL IN OUR CITY'S RECOVERY, NOT, UH, TO ITS PRE HARVEY STATE, BUT A BETTER STATE, A MORE RESILIENT, SUSTAINABLE, AFFORDABLE STATE WHERE ALL HOUSTONIANS, NO MATTER THEIR AGE, CAN LIVE NOT ONLY IN PLACES THEY CAN AFFORD, BUT IN PLACES WHERE THEY CAN REALLY THRIVE.
AS A CLOSE, I WANT TO THANK OUR PARTNERS THAT MADE THIS DAY POSSIBLE.
MARK DANA CORPORATION, COUNCIL MEMBER GALLEGOS FOR HIS UNENDING SUPPORT OF DISTRICT, GOD, PLEASE GIVE IT UP TO COUNCIL MEMBER GALLEGOS, THE EAST END CHAMBER OF COMMERCE.
FRANCIS, THANK YOU SO VERY, VERY MUCH ARMAND, ARMANDO CAST STALLION, UH, FOR LENDING HIS ARTISTIC TALENTS AND BRINGING OUT THE UNIQUENESS AND BEAUTY OF THE EAST END AND SECOND WARD.
AND OF COURSE, OUR HOUSING AND COMMUNITY DEVELOPMENT STAFF.
AND AGAIN, THANK YOU DIRECTOR BY AND TEAM FOR YOUR CONTINUOUS EFFORTS TO INCREASE THE AFFORDABLE HOME INVENTORY IN OUR CITY.
DAVE, I GET BACK TO YOU, OR AM I BRINGING UP COUNCILMAN MCGEERS? WELL, LEMME BRING UP, YOU KNOW, I DON'T THINK HE NEEDS ANY INTRODUCTION EITHER,
I DID, I DID WANNA SAY ONE THING, IF I COULD.
UH, ABOUT COUNCIL MEMBER GALLEGOS.
WE, WE MET WITH HIM YEARS AGO FOR A PROJECT ABOUT THREE BLOCKS FROM HERE CALLED EAST END, UH, IDO, ETO LOFTS, THANK YOU,
AND, AND WHEN WE, AND WE DID THAT PROJECT, IT'S, UH, 80 UNITS FOR FAMILIES.
AND WHEN WE WERE WORKING ON THAT PROJECT WITH THE COUNCIL MEMBER, HE SAID, YOU KNOW WHAT? WE REALLY NEED SENIORS PROJECTS IN MY DISTRICT.
SO THAT WAS THE IMPETUS FOR THIS PROJECT.
WELL, GOOD MORNING EVERYONE, AND, UH, WELCOME TO DISTRICT I, MAYOR
ALSO, I WANNA THANK CHIEF BEA FOR BEING HERE AND DIRECTOR OF BUGS FOR BEING HERE.
THANK YOU SO MUCH FOR BEING HERE IN DISTRICT.
I, IT'S A GREAT DAY, LIKE IT'S BEEN ANNOUNCED.
UH, TODAY WE ARE HERE TO CELEBRATE THE GRAND OPENING OF THE SCOTT STREET LOFTS, A WONDERFUL NEW COMMUNITY FOR OUR SENIORS RIGHT HERE IN DISTRICT.
I, AND LIKE DAVID HAD MENTIONED, THIS IS SOMETHING THAT I HAVE BEEN TRYING TO PUSH WITH DEVELOPERS IN REGARDS TO MORE SENIOR HOUSING.
IF YOU RECALL, MAYOR, UH, JUST A FEW YEARS AGO, WE WENT TO THE LANCASTER OPENING OVER THERE BY, UH, UH, IN THE, IN THE HOBBY AIR AIRPORT AREA.
UH, AND THOSE APARTMENTS, WHAT I UNDERSTAND, IT'S 160 SOME UNITS OPENED, WHAT, TWO AND A HALF YEARS AGO, I BELIEVE.
AND, AND, AND THAT'S WHY THERE IS SUCH A NEED FOR SENIOR HOUSING.
AFFORDABLE HOUSING, ESPECIALLY QUALITY HOUSING FOR SENIORS HAS BECOME INCREASINGLY IMPORTANT IN OUR COMMUNITY.
IN FACT, THE 2020 CENSUS, IT'S BEEN SAID THAT BY 2030, THE POPULATION AGE 65 AND OLDER WILL OUTNUMBER THE POPULATION UNDER THE AGE OF 18.
AND I'M GONNA REPEAT THAT AGAIN.
THE 2020 CENSUS, IT'S BEEN SAID THAT BY 2030, THE POPULATION AGE 65 AND OLDER WILL OUTNUMBER THE POPULATION UNDER THE AGE OF 18.
THAT IS WHY IT IS SO IMPORTANT TO ADVOCATE AND SUPPORT THESE TYPES OF QUALITY DEVELOPMENTS AND WHY WE MUST CONTINUE TO LEVERAGE MORE CDBG AND TAX CREDIT PROCEEDS TO HELP SUPPORT THESE IMPORTANT PROJECTS.
AS WE CAN SEE HERE TODAY, THESE DEVELOPMENTS NOT ONLY CONTRIBUTE POSITIVELY TO THE ENTIRE COMMUNITY, BUT ALSO HELP FILL
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A CRITICAL HOUSING NEED.IT HELPS REDUCE HOUSING AND SECURITY.
AND NOW IT ALLOWS MANY OF OUR SENIORS THAT HAVE LIVED HERE IN THESE COMMUNITIES TO STAY IN THESE COMMUNITIES AND REMAIN CONNECTED TO THE COMMUNITIES THAT THEY LOVE.
AGAIN, THANK YOU ALL FOR BEING HERE TODAY.
CELEBRATE THE IMPORTANCE OF THIS DEVELOPMENT.
BEFORE I CLOSE, LET ME ALSO THANK DAVID AND MARK DANA CORPORATION FOR THEIR COMMITMENT TO OUR SENIORS AND FOR CONSTRUCTING THIS LOVELY NEW HOME FOR SO MANY OF THEM, WHICH, WHICH I TOURED A FEW MONTHS AGO.
LET ME ALSO THANK DIRECTOR BYNUM AND THE GOOD FOLKS AT THE CITY OF THE HOUSTON HOUSING DEPARTMENT FOR HELPING TO PROVIDE THE NECESSARY PUBLIC FUNDING TO MAKE THIS PROJECT POSSIBLE, AS WELL AS OUR FRIENDS AT THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT.
AND AGAIN, LIKE DAVID STATED, I ENCOURAGE Y'ALL TO PLEASE TAKE A TOUR OF THIS BEAUTIFUL FACILITY.
AND NOW I WOULD LIKE TO INVITE A COUPLE OF OUR, UH, FINANCING PARTNERS TO, TO SAY A FEW WORDS.
UH, FIRST, FIRST UP, UH, THERESA MORALES, UH, SHE'S THE DIRECTOR OF MULTI-FAMILY BONDS AND 4% HOUSING TAX CREDITS FOR THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS.
UM, SHE AND HER COLLEAGUES HELPED US NAVIGATE THE COMPLEX STRUCTURE OF THIS TYPE OF FINANCING, AND WE APPRECIATE ALL, ALL OUR HARD WORK.
UM, SCOTT STREET LOSS IS OUR NINTH TAX CREDIT DEVELOPMENT CITY OF IN THE HOUSTON MSA.
THANK YOU DAVID AND ZACH, AND THE MARK DANA CORPORATION FOR INVITING T-D-H-C-A TO BE A PART OF THE GRAND OPENING FOR SCOTT STREET LOFTS.
T-D-H-C-A WAS RESPONSIBLE FOR THE ALLOCATION OF HOUSING TAX CREDITS AND PRIVATE ACTIVITY BONDS TO HELP FUND THE CONSTRUCTION OF WHAT WE ARE CELEBRATING TODAY.
THIS PROJECT REPRESENTS THE FIRST PARTNERSHIP, BUT NOT THE LAST WITH MARK DANA UNDER TDHCA A'S BOND PROGRAM.
AS MANY HAVE NOTED, THE FINANCING CLOSED IN 2020, AND AS MANY OF US WERE FORCED TO ADOPT A WORK FROM HOME LIFESTYLE, DESPITE A PANDEMIC, WE WERE BUSIER THAN WE HAD EVER BEEN WITH A SHOT CLOCK OF 180 DAYS TO GET FROM START TO FINISH.
IT MAY SEEM LIKE A LONG TIME, BUT THERE'S A LOT THAT HAS TO COME TOGETHER TO GET A PROJECT CLOSED.
THE BEST ANALOGY I'VE HEARD IS THAT IT'S LIKE HERDING CATS.
THE TEAM AT MARK DANA ARE REALLY GOOD AT HERDING CATS.
SCOTT STREET LOFTS IS PROVIDING GREATER HOUSING CHOICES FOR INCOME ELIGIBLE SENIORS MAKES A SIGNIFICANT CONTRIBUTION TO THE QUALITY OF LIFE FOR TENANTS AND WILL POSITIVELY IMPACT THIS ENTIRE COMMUNITY.
THANK YOU DAVID AND ZACH, AND THE MARK DANA CORPORATION FOR YOUR VISION AND FOR YOUR HARD WORK IN GETTING THIS ONE ACROSS THE FINISH LINE FROM A DESIGN ON PAPER TO A PLACE THAT SOMEONE WILL DEFINITELY BE PROUD TO CALL HOME.
ON BEHALF OF THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS, WE WISH YOU CONTINUED SUCCESS.
AND NOW I'D LIKE TO INTRODUCE YOU TO SARAH HALE, UH, SENIOR VICE PRESIDENT AT MEG BANK.
SHE'S WORKED IN AFFORDABLE HOUSING AS A, ON THE DEVELOPMENT SIDE AND ON THE LENDING SIDE.
UM, MEG BANK IS A KEY FINANCING PARTNER WITH THE CITY, UH, IN, IN THIS PROJECT.
AND OTHERS, UH, SARAH AND HER TEAM, INCLUDING RAY MILLER, UH, AND, UH, TODD KEATING AND MICHAEL INGER, UM, UH, PROVIDED US WITH THE CONSTRUCTION LOAN.
SO AMEE HAS FINANCED ALMOST ALL OF OUR PROJECTS IN HOUSTON, AND, AND WE APPRECIATE THEIR SUPPORT.
AS I'VE WALKED AROUND THE ROOM, I'VE SAID, IT SEEMS LIKE A FAMILY REUNION.
UH, KNOW SO MANY HERE AND SO MANY, I SEE THEIR FACES IN PERSON BECAUSE WE'VE HANDLED SO MUCH BY TEAMS, CALLS AND EMAILS, ET CETERA.
UH, THIS ALMOST LOOKS LIKE, UH, UH, THE ROSTER FOR OUR WEEKLY CALLS.
IT TAKES 30 TO 40 PEOPLE PER WEEK TO GET THESE THINGS DONE.
AND SO AMIE IS SO PROUD TO BE PART OF THIS PROJECT AND TO, TO, UH, BE INVOLVED IN ANOTHER MARK DANA PROJECT.
THANKS TO, UH, DAVE AND MARJORIE.
UM, I JUST WANNA GIVE A LITTLE STATISTIC HERE AND TO SHOW YOU THE COMMITMENT THAT AMEE HAS TO AFFORDABLE HOUSING.
AND, UH, WE'RE THANKFUL TO HAVE RAY MILLER WITH US 'CAUSE HE HELPS US GET SOME THINGS DONE.
UM, BUT, UM, EVERYBODY MENTIONS HURRICANE HARVEY, AND
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THAT WAS A PIVOTAL TIME IN OUR CITY.AND SINCE 2019, WHEN THE FIRST FUNDS WERE RELEASED OF CDBG TO TODAY, EMMA G HAS FINANCED 3,500 UNITS.
OF THOSE 80% ARE AFFORDABLE, AND 74% OF THOSE HAVE CDBG FUNDS.
SO, UH, IF YOU DOUBT OUR COMMITMENT, DON'T DOUBT ANY FURTHER.
THAT'S, THAT'S A LOT OF UNITS IN A FEW YEARS IN LIGHT OF A PANDEMIC, UH, THE SUPPLY CHAIN ISSUES THAT, UH, OUR DEVELOPERS HAVE ALL EXPERIENCED.
SO THANK YOU FOR LETTING US BE A PART OF IT, DAVID.
AND, UH, WE, UH, APPRECIATE ALL OF OUR PARTNERS THAT ARE IN THIS ROOM.
AND NOW I'D LIKE TO INTRODUCE YOU TO DAN KIERS.
DAN IS THE MANAGING DIRECTOR AND CO-HEAD OF ORIGINATIONS AND SALES FOR RBC COMMUNITY INVESTMENTS, UH, RBC THROUGH DAN KIERS.
AND HIS TEAM, UH, IS THE TAX CREDIT INVESTOR IN THIS PROJECT.
UH, THEY'RE THE TAX CREDIT INVESTOR IN FIVE OF OUR DEVELOPMENTS IN TEXAS AND VIRGINIA.
UH, WE APPRECIATE HIS AND RBCS SUPPORT, ESPECIALLY FOR SCOTT STREET LOANS.
UM, AND I'LL, I'LL KEEP MY BRIEFS, UH, MY, MY REMARKS BRIEF.
YOU KNOW, PRIMARILY I LEFT MY READERS IN THE CAR, SO I CAN'T ACTUALLY READ WHAT I WROTE.
UH, BUT, UM, YOU KNOW, IT, IT TAKES, IT TAKES A VILLAGE, THEY SAY, AND, AND, UH, CREATING AFFORDABLE HOUSING.
IT TAKES A VILLAGE, IT TAKES A PARTNERSHIP.
AND SO WE ARE SO THANKFUL FOR THE PARTNERSHIP WITH THE CITY OF HOUSTON AND ALLOCATING THE RESOURCES TO MAKE THIS DEAL HAPPEN.
THE PARTNERSHIP WITH T-D-H-C-A AND THERESA MORALES WITH AMGE, JLL, MARK DANA, WHO IS ABSOLUTELY ONE OF THE BEST, UH, DEVELOPERS IN THE STATE OF TEXAS.
UM, AND SO, YOU KNOW, WHEN YOU LOOK AT WHAT THEY'VE BUILT, YOU KNOW, THIS COST ABOUT $35 MILLION TO BUILD.
UM, WE NEEDED $15 MILLION TO COME FROM CDBG DISASTER RELIEF FUNDS.
AND SO WITHOUT THAT, THIS COULD NOT HAVE HAPPENED.
UM, AND ESPECIALLY TO BE IN THIS LOCATION WITHIN THE CITY, UH, IT'S TRULY TREMENDOUS.
SO THANK YOU TO THE CITY FOR THAT.
I ALSO WANNA THROW A SHOUT OUT TO RAY MILLER, WHO WHEN HE WAS AT THE CITY AND WITH HIS TEAM, HAD TO QUICKLY DEVELOP A PROGRAM TO, YOU KNOW, ALLOCATE THESE DOLLARS.
THEY, YOU KNOW, THESE FUNDS CAME INTO THE CITY OF HOUSTON FOR DISASTER RELIEF, AND THEY HAD TO FIGURE OUT HOW TO GET THESE DOLLARS OUT IN THE MOST EFFICIENT WAY, AND TO GET 'EM TO THE RIGHT PEOPLE TO, TO CREATE THE HOUSING QUICKLY AND EFFICIENTLY.
AND, UM, THAT WILL LOOK AS BEAUTIFUL AS THIS.
UM, SO WE'RE, WE'RE VERY THANKFUL FOR, UH, THAT PARTNERSHIP.
UM, IN ADDITION, UH, AM G BANK HAS, HAS SHOWN TRUE COMMITMENT.
UM, THEY'RE IN THE INVESTOR IN OUR FUND.
SO RBC COMMUNITY INVESTMENTS, UH, INVESTED ABOUT SIX AND A HALF MILLION DOLLARS, UM, IN THIS DEAL OF WHICH, UM, AMEE IS THE INVESTOR IN THAT FUND.
UM, SO WE, WE LOVE THE PARTNERSHIP.
UM, RPC ALSO UNDERWROTE THE BONDS, UM, AND SOLD THOSE BONDS, UH, AND WORKING VERY CLOSELY WITH T-D-H-C-A, UM, THE, THE ALLOCATOR.
UM, AND MOST IMPORTANTLY, WE'D LIKE TO THANK, UH, THE MARK DANA TEAM.
YOU KNOW, AS, UH, THERESA SAID, UM, THEY'RE VERY GOOD AT HERDING CATS AND THERE IS NO BETTER
SO THANK YOU VERY MUCH, AND CONGRATULATIONS.
I DID NOT SEE ANGELA, UH, CHER WALK IN, SO, OH, THERE YOU ARE.
UH, ANGELA IS THE SENIOR MANAGING DIRECTOR IN THE DALLAS OFFICE OF JLL CAPITAL MARKETS, AMERICAS AND CO-HEADS, J L'S AFFORDABLE HOUSING GROUP, UH, JLL STRUCTURED THE FREDDIE MAC PERMANENT LOAN FOR THIS PROJECT, AND WE LOOK FORWARD TO CONTINUING TO WORK WITH HER AND HER TEAM.
SO I AM JOINED BY MARY DAVIS, WHO IS A CO-HEAD ON THE AFFORDABLE PLATFORM AT JLL.
AND I JUST RECENTLY JOINED JLL ABOUT A YEAR AGO TO EXPAND OUR COMMITMENT TO THE AFFORDABLE HOUSING SPACE.
SO, UM, THEY'VE, THERE'S BEEN A LONGSTANDING COMMITMENT THAT WE'VE HAD TO AFFORDABLE HOUSING, BUT WITH THE NEED, YOU KNOW, OUT THERE BEING NEVER ENDING, UM, CERTAINLY WE HAVE MORE OPPORTUNITY TO MAKE AN IMPACT.
SO WE, UM, I CONSIDER IT A PRIVILEGE TO WORK IN AFFORDABLE HOUSING.
I'VE BEEN WORKING IN AFFORDABLE HOUSING MY ENTIRE CAREER, AND, UM, CERTAINLY WE'RE VERY HONORABLE AND GRATEFUL TO BE SELECTED, UM, TO WORK ON THIS PROJECT.
AND ALTHOUGH WE SPEND, UM, MOST OF OUR TIME WORKING IN THE NUMBERS, THE TRUE SATISFACTION COMES FROM SEEING THE END PRODUCT AND KNOWING THAT THE PEOPLE WHO ARE GOING TO LIVE HERE ARE GONNA HAVE A SAFE, QUALITY PLACE TO LIVE AND CREATE MEMORIES IN THEIR NEW HOMES.
AND NOW I'D LIKE TO INTRODUCE YOU TO JASON BOLEN.
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UH, JASON IS THE VICE PRESIDENT OF REAL ESTATE FOR URBAN PARTNERSHIPS COMMUNITY DEVELOPMENT CORPORATION.UH, U-P-C-D-C IS A NONPROFIT COMMUNITY DEVELOPMENT LEADER THAT WORKS TO CREATE EQUITABLE ECONOMIC DEVELOPMENT IN LOW AND MODERATE INCOME NEIGHBORHOODS.
ITS CAPSTONE PROJECT IN NEW HEADQUARTERS IS THE EAST END MAKER HUB.
THE EAST END MAKER HUB PROVIDES EQUITABLE ACCESS TO AFFORDABLE WORKSPACE FOR LOCAL MANUFACTURERS, MANUFACTURERS, FABRICATORS, CRAFTERS, INNOVATORS, ARTISANS, AND ARTISTS.
U-P-C-D-C SERVED AS THE CONDUIT LENDER FOR SCOTT STREET LOFTS AND PARTNERED WITH KUGLER CONSTRUCTION OF TEXAS TO BUILD SCOTT STREET LOFTS.
TODAY, U-P-C-D-C HAS PARTNERED WITH US ON A TOTAL OF THREE AFFORDABLE HOUSING DEVELOPMENTS.
WE APPRECIATE THEIR SUPPORT AND HELP.
I'M THE VP OF REAL ESTATE AT URBAN PARTNERSHIPS COMMUNITY V COMMUNITY DEVELOPMENT CORPORATION, OR WE JUST CALL IT UP CDC.
WE'RE A NONPROFIT ECONOMIC DEVELOPMENT AND REAL ESTATE DEVELOPMENT COMPANY, AND WE'RE VERY APPRECIATIVE OF BEING PART OF THIS IMPORTANT PROJECT.
WE DEVELOPED THE EAST END MAKER HUB, AND WE ARE MORE THAN, WE'RE MORE THAN A THOUSAND INDIVIDUALS HAVE EITHER BEEN PLACED IN JOBS OR HIRED AT THE HUB.
AND WE ARE PARTNERS AT THE BETHUNE EMPOWERMENT CENTER.
A MAJOR GOAL OF UP CDC IS TO DEVELOP AFFORDABLE HOUSING.
WE ARE EXCITED THAT MARK, THAT MARK DANA CORPORATION INVITED US TO BE PART OF THIS PROJECT.
BEING A PART OF THIS PROJECT IS ALLOWING US TO GAIN CRITICAL EXPERIENCE IN THE ARENA OF AFFORDABLE HOUSING.
WE BELIEVE THAT WORKFORCE DEVELOPMENT AND JOBS, ALONG WITH AFFORDABLE HOUSING IS EXTREMELY, IS AN EXTREMELY STRONG SOLUTION TO WEALTH BUILDING IN LOW AND MODERATE INCOME NEIGHBORHOODS.
THANK YOU ALL FOR BEING HERE AND SUPPORTING THIS PROJECT.
AND NOW I'D LIKE TO TAKE A FEW MOMENTS TO REALLY THANK, UH, SOME OF THE OTHER FOLKS THAT, UH, MADE THIS A POSSIBILITY.
UH, I KNOW THEY'VE ALREADY BEEN MENTIONED, BUT I THINK IT BEARS, UH, REPEATING, UH, THAT WE REALLY APPRECIATE ALL THE WORK.
THE CITY OF HOUSTON HOUSING AND COMMUNITY DEVELOPMENT DEPARTMENT, UH, PUT INTO THIS LED BY KEITH BYNUM, UH, THE DIRECTOR, UH, AND JOINED BY HIS TEAM.
YOU KNOW, RYAN BIBBS, I SAW HIM EARLIER.
UH, RAY MILLER HAS A DUAL ROLE IN THIS PROJECT, AS YOU MAY HAVE GATHERED.
UM, AND ALSO, UH, DOMINIC KING, WHO, UH, IS IN A DIFFERENT POSITION AT THE CITY, BUT SHE WAS INSTRUMENTAL, UH, IN, IN, IN CLOSING ON THE FINANCING.
UM, WITHOUT THE C-D-B-G-D-R FUNDS ADMINISTERED BY THE CITY SCOTT STREET LAWS, UH, WOULD NOT HAVE BEEN POSSIBLE.
SO WE THANK THE CITY OF HOUSTON AND THE HOUSING AND COMMUNITY DEVELOPMENT DEPARTMENT FOR ALL THEIR HARD WORK AND HELP WITH THIS PROJECT.
UH, OTHER KEY PEOPLE, UH, SOME OF THEM ARE HERE.
OUR ARCHITECT, MARK MCKAY, I SAW HIM A MINUTE AGO.
UM, OUR, OUR ENGINEERS, UH, TYLER RAY WITH WGA, CIVIL ENGINEERING, JERRY WYNN, STRUCTURAL ENGINEERING, UH, JAIR VASQUEZ WITH MEP ENGINEERING, UM, OUR LAWYERS, UH, LOCK LIDDELL, I ALWAYS CALL 'EM LOCK LIDDELL.
THEY'RE NOW LOCK, LORD, SORRY, THEY'VE BEEN LOCK LORD FOR PROBABLY 15 YEARS.
UM, UM, BUT, UM, ANYWAY, LOCK LORD
I THINK, UH, RICK, UH, RICK MORRISS HERE WITH LOCK LORD, BUT THE, OBVIOUSLY COULDN'T DO IT WITHOUT THE LAWYERS.
UM, OUR ACCOUNTANTS, NOVA GRAD, UM, OUR COMPLIANCE CONSULTANT, GOODWILL PIERRE, UH, AND, UH, OUR, UH, ARTIST WHO UNFORTUNATELY WAS GONNA BE HERE, BUT I UNDERSTAND HE HAS A FLAT TIRE ON THE SIDE OF 45.
BUT ARMANDO CASTON, UH, DID OUR COMMUNITY ART PANELS HERE AT THE FRONT.
WHEN YOU COME IN, TAKE A LOOK AT THOSE.
IF YOU DIDN'T NOTICE THEM, UM, THOSE ARE, UH, PANELS, UH, THAT, UH, REFLECT THE HISTORIC COMMUNITIES OF THIS AREA.
UM, I THINK YOU DID A GREAT JOB.
SO, UM, WE ALSO APPRECIATE THE HELP AND SUPPORT OF THE EAST END CHAMBER OF COMMERCE, AND I KNOW, UH, FRANCIS DS PRESIDENT IS HERE.
UM, THEY'RE GOING TO TAKE CARE OF THE, UH, CEREMONIAL, UH, RIBBON CUTTING, WHICH IS UP NEXT.
UM, SO I WANT TO THANK YOU ALL FOR COMING.
UM, AND AFTER THE RIBBON CUTTING, UH, WE INVITE YOU TO, UH, STAY, UH, HAVE SOME FOOD.
THERE'S THAT FOOD'S FANTASTIC.
IF YOU HAVEN'T TRIED IT, YOU REALLY HAVE TO TRY IT, AND THERE'S A LOT OF IT.
SO, UH, UH, ENJOY THE FOOD, ENJOY THE AMEN CENTER.
UH, THE, UH, FDI FOLKS IN THE RED
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POLO SHIRTS ARE HERE AND WANNA REALLY SHOW YOU THE UNITS, UM, AND JUST STAY AS LONG AS YOU WANT.THANK YOU VERY MUCH FOR COMING, MAYOR.