New Hope Housing Inc.

“Finance committee reviews and approves Form 990. Form 990 is distributed to governing body via email prior to filing.”

“Annual written disclosure by all officers, directors and key employees is required. If any conflicts are identified, the board of directors takes appropriate action.”

“The Executive Committee reviews the Executive Director's compensation using comparative data from similar organizations.”

“President/CEO reviews, with input from Treasurer/CFO, and comparative data is used. President/CEO reviews Treasurer/CFO, Vice President of Onsite Operations, Vice President of Real Estate Development, Vice President of Fund Development and Communications, and the Director of Human Resources. Other employees are reviewed by direct supervisors, with final approval of President/CEO. All employees (except new hires) were reviewed in 2020.”

“Governing documents are made available upon reasonable request and at the corporate office.”

“NHH Savoy 120 unitsBeginning early 2020, New Hope was in pre-development on its third property to serve low-income families NHH Savoy. It is located in Sharpstown, about one mile from the NHH Dale Carnegie SRO. The NHH Savoy property is being designed by Ernesto L. Maldonado, AIA of GSMA, Inc. It will include 120 apartment homes comprised of 1-, 2- and 3-units with about 6,000 square feet of shared community space. Due to insufficient and inadequate housing, we in Houston are coping with a severe challenge of incipient homelessness those living on the edge who are one emergency away from homelessness. We will break ground on this new construction project in summer 2021. The City of Houston invested $12MM in Community Development Block Grant (CDBG) Disaster Relief funds. These are monies allocated to local municipalities by the U.S. Department of Housing and Community Development to help Texas rebuild and recover from Hurricane Harvey. Those funds were leveraged with 9% Housing Tax Credits, allocated by the Texas Department of Housing and Community Affairs. Additional grants and contributions from private sources are being sought to help to close the gap.”

“OTHER PROGRAM SERVICES 4: NHH at Congress 57 unitsThis property is owned and operated by Houston Area Community Development Corporation (HACDC). In 2002, HACDC became an affiliate of New Hope Housing, when the original board of directors passed governance to NHHI. The building is a moderate rehabilitation and modification of the Powell Hotel, which was established in 1925. The original renovation of the Congress property was completed in 1997 and received the Greater Houston Preservation Alliance Good Brick Award. At the end of October 2007, this property was temporarily closed for an intensive renovation and reopened in October 2010 to house the chronic homeless with disabilities. The original rehabilitation of the property performed before NHHI assumed governance was undercapitalized, and the contractor declared bankruptcy shortly after the original renovation was completed. Thus, the structure required substantial renovation and structural upgrades. OTHER PROGRAM SERVICES 5: NHH at Brays Crossing 149 unitsThe City of Houston approached New Hope to develop Brays Crossing what was once the dilapidated HouTex Inn. In late 2007, FDI-Houston SRO, Ltd. purchased the property located at 6311 Gulf Freeway, I-45 at the Griggs Road exit. New Hope Housing, Inc. is the developer of the Brays Crossing project that now offers efficiency apartment housing for individuals with low incomes. It also serves as a foundation for a large public art display that is integral to the building design.This site was financed with a combination of Housing Tax Credits, allocated by the Texas Department of Housing and Community Affairs, and funds from the City of Houston, as well as private charitable contributors, including the Houston Endowment Inc., The Meadows Foundation, and the United Way of Greater Houston. The property opened in February 2010. Brays Crossing has received numerous awards including: 2017 Preservation Houston Future Landmark Award; 2011 ULI Award for Excellence - North and South America; 2011 ULI-Houston Development of Distinction Award; two national Builders Choice Design & Planning Awards issued by the National Association of Homebuilders; two Houston Business Journal Landmark Awards; and, a Texas Architect Design Award.Effective December 31, 2020, HACDC was assigned the net assets and operations of FDI under an Assignment and Assumption Agreement with NHHI. Additionally, the limited partner assigned their interest in the partnership to HACDC. As of December 31, 2020, HACDC is the sole owner of the assets and operations of FDI. OTHER PROGRAM SERVICES 6: NHH at Sakowitz 166 unitsSakowitz is the first LEED certified affordable housing in the State of Texas, and it is also Houstons first green multifamily housing development. Situated in Greater Fifth Ward/Denver Harbor, the Sakowitz development opened in October 2010. This site was financed with a combination of Housing Tax Credits, allocated by the Texas Department of Housing and Community Affairs, and funds from the City of Houston, as well as private charitable contributors, including the Houston Endowment Inc., The Brown Foundation, The Fondren Foundation and other foundations and corporations. Sakowitz has also received several distinguished awards including: National Association of Housing and Redevelopment Officials (NAHRO) Award of Excellence; USGBC LEED for Homes Outstanding Affordable Developer Award; and, a Houston Business Journal Landmark Award. OTHER PROGRAM SERVICES 7: NHH at Perry 160 unitsNew Hope opened NHH at Perry in late October 2012. Perry is financed through a public/private partnership that leverages tax credit investments with funds from the City of Houston as well as private charitable donors, including the Federal Home Loan Bank of Chicago, JPMorgan Chase Foundation, and other foundations and corporations. The Perry project is a 160-unit SRO apartment complex located south of the University of Houston on Perry Street between Foster and Eastwood Streets. Thi”

“Cancellation of program-related debt = -$214231”

“Transfer of investment in Brays to HACDC = -$1712082”