HOUSING SOLUTIONS INC

HOUSING SOLUTIONS, INC., ("HSI") PROVIDED HOUSING AND SERVICES TO FORTY-NINE LOW INCOME PERSONS IN SACRAMENTO COUNTY, CALIFORNIA IN 2021. AT THE END OF 2021, HSI OWNED SIX HOUSES AND TWO CONDOMINIUM UNITS. HSI WAS ESTABLISHED AS AN AFFILIATE NONPROFIT CORPORATION RELATED TO SACRAMENTO SELF-HELP HOUSING ("SSHH") IN ORDER TO ACQUIRE AND PROVIDE SHARED HOUSING OPPORTUNITIES FOR SSHH CLIENTS. THE HOUSES ARE LEASED TO SSHH AT BELOW-MARKET RENTS AND ARE OWNED TO ENSURE THE AVAILABILITY OF THIS AFFORDABLE HOUSING STOCK FOR DECADES RATHER THAN SHORT-TERM PERIODS WITH RENT UNCERTAINTIES.TWO HOUSES WERE DESIGNED AND OPERATED TO PROVIDE TRANSITIONAL HOUSING AT NO RENT FOR HOUSEHOLDS WITH CHILDREN. THESE HOUSES HAVE BEEN EXPANDED TO CONTAIN A TOTAL OF 13 BEDROOMS BETWEEN THEM. THE TWO CONDOMINIUMS WERE RENTED TO PAIRS OF INDIVIDUALS AS LONG-TERM SHARED HOUSING AT RENTS FAR BELOW MARKET RATES. ONE EIGHT-BEDROOM HOUSE PROVIDED PERMANENT SUPPORTIVE HOUSING FOR PERSONS WITH MINOR DISABILITIES; THESE INDIVIDUALS PAID BELOW-MARKET RENTS. TWO HOUSES PROVIDED PERMANENT SUPPORTIVE HOUSING AT AFFORDABLE RENTS FOR PERSONS SUFFERING FROM CHRONIC HOMELESSNESS AND CONTAINED A TOTAL OF 12 BEDROOMS. ONE FIVE-BEDROOM HOUSE PROVIDED TRANSITIONAL HOUSING WITHOUT RENTS PRIMARILY FOR HOMELESS INDIVIDUAL ADULTS.THE HOUSES WERE MANAGED DIRECTLY BY SSHH. IN ADDITION TO MANAGING THE HOUSES, SSHH PROVIDED VARIOUS SERVICES TO THE RESIDENTS. SSHH SCREENED AND SUBLEASED TO POTENTIAL TENANTS WHO WERE HOMELESS OR IN IMMINENT DANGER OF HOMELESSNESS; HELPED DEVELOP PERSONAL PLANS FOR THE INDIVIDUALS TO IDENTIFY AND ADDRESS BARRIERS TO THEIR OBTAINING HOUSING IN THE GENERAL MARKET; PROVIDED A HOUSE LEADER AT EACH HOUSE TO OVERSEE ON-SITE OPERATIONS; AND PERFORMED MINOR MAINTENANCE AND REPAIRS.THE RENTS PAID TO HSI BY SSHH WERE BASED ON A PROJECTION OF STANDARD OPERATING COSTS PLUS SMALL MONTHLY ACCRUALS OF OPERATING AND CAPITAL RESERVES FOR UNANTICIPATED COSTS. WITH THE ASSISTANCE OF DONATIONS FROM PRIVATE ORGANIZATIONS AND CONTRACTS FOR SOME GOVERNMENT FUNDING, HSI AND SSHH WERE ABLE TO PROVIDE ALL THE NECESSARY SERVICES AND SUPPORT WHILE PRUDENTLY MAINTAINING THE PROPERTIES. ADDITIONAL ACQUISITIONS WILL BE CONSIDERED IN THE FUTURE AS FINANCING PERMITS.ADDITIONAL OVERSIGHT OF THE HOUSES AND THEIR OPERATIONS AND BUDGETS WERE PROVIDED BY TWO ENTITIES. HSI HAS A BOARD OF DIRECTORS WHICH REVIEWS BUDGETS, EXPENDITURES AND INCOME; SSHH'S MANAGEMENT; AND GENERAL FINANCIAL AND PHYSICAL OPERATIONS. IN ADDITION, THE PUBLIC ENTITIES DONATING THE HOUSING AND/OR PROVIDING OPERATING SUBSIDIES RECEIVE REGULAR REPORTS OF FISCAL AND OPERATING INFORMATION AND MAY FURTHER AUDIT THE PROGRAM.