Preserving California’s small unsubsidized housing stock is a critical strategy to reduce displacement, preserve affordability, and stabilize communities. The State of California has launched an ambitious, first-of-its-kind program to address these pressing preservation needs. The Foreclosure Intervention Housing Preservation Program (FIHPP) -- enabled by housing budget bill AB140 in 2021 and administered by the California Department of Housing and Community Development’s (HCD) -- is a $485 million program designed to support the preservation of small properties that are at-risk of foreclosure by providing permanent, low-cost financing and complementary technical assistance. Capital for this program is expected to be available in early 2024.
In the summer and fall of 2023, Enterprise collaborated with technical assistance (TA) partners – The California Community Land Trust Network, Community Vision, and Strada Ventures – to provide a three-part webinar series to prospective borrowers gearing up for the release of FIHPP funds.
The sessions were accompanied by guidance and template documents that will help mission-driven developers prepare for participation in the program, as well as long-term success as stewards of affordable housing. All sessions were open to the public, and you can find recordings and related materials for each session below:
August 10, 2023 | Partnerships for Housing Preservation
Presented by: James Yelen (Enterprise Community Partners), Leo Goldberg and Lydia Lopez (California CLT Network), Debbie Chen (Little Tokyo Service Center), Faizah Barlas (Beverly Vermont CLT), Cassidy Bennett (Legal Aid Foundation of Los Angeles) and Francis McIlveen (Land + Liberty Consulting)
This session explores how emerging nonprofit developers and community land trusts can vet and implement collaborations with experienced development partners to preserve housing for lower income households. This session includes an overview of FIHPP program features and eligibility criteria, with particular emphasis on “Joint Eligible Sponsor” requirements. Presenters from the CA Community Land Trust Network, Legal Aid Foundation of Los Angeles, CLTs and CDCs introduce attendees to a new development partnerships toolkit, partnership case studies, and provide an overview of the various forms partnerships can take with their related considerations. Partnership models and case studies highlighted in this session, as well as the accompanying toolkit, focus primarily on the kinds of collaborations and project types that are likely to be pursued with the support of FIHPP resources.
- Watch the August 10 webinar
- Listen to the Spanish interpretation audio
- Download the August 10 presentation
- Download the Partnerships for Housing Preservation Toolkit
September 14, 2023 | Developing a Financial Stability and Business Plan
Presented by: Amanda Bornstein and Kshama Kanakoor (Community Vision)
FIHPP requires applicants to provide a number of documents that demonstrate organizational capacity to plan for and manage a small- to medium-multifamily (SMMF) affordable real estate portfolio. Regardless of whether an organization plans to access FIHPP, it is important for all housing providers to develop and understand their business model and plan for long-term financial sustainability. This webinar, presented in collaboration with Community Vision Capital and Consulting, will help prospective FIHPP applicants understand how to put together their organization’s Financial Sustainability/Business Plan and 20-year organizational cash flow in preparation for FIHPP’s application process. The session is accompanied by template versions of these required documents.
- Watch the September 14 webinar
- Download the September 14 presentation
- Download the FIHPP Business and Sustainability Plan Blank Template
- Download the FIHPP Business and Sustainability Plan Example
- Download the FIHPP 20-year Organizational Operating Budget Blank Template
- Download the FIHPP 20-year Organizational Operating Budget Example
November 16, 2023 | Asset Management Strategies
Presented by: Coutrney Horwitz (Strada Ventures, LLC)
The final webinar in this series will take small-to-medium-multifamily (SMMF) developers through the considerations and systems they will need to have in place to adequately manage the fiscal and physical health of their portfolio into the future. This session reviewed the roles and responsibilities among the stakeholders involved in asset management, including a distinction between property and asset management and how these two functions interact. A discussion of best practices is accompanied by an interactive overview of a variety of asset management tools, as well as guidance on the development of an asset management plan that meets FIHPP program requirements.
- Watch the November 16 webinar
- Download the November 16 presentation
- For access to the asset management tools showcased in this webinar, please contact Courtney Horwitz.
As background, in November 2022, Enterprise Community Partners (Enterprise) launched Preservation Next and the California Preservation Academy to support the capacity and growth of this sector. The 11-part webinar series explored key topics related to acquisition, rehab, long-term stewardship and organizational sustainability. Enterprise is now building on our California Preservation Next work as a capital and TA provider for FIHPP.
- Training