Time (Min)					Agenda Item	
8:00-8:30		Networking between members and guests 	
8:30-8:35		Introduction of members/guests (Katie Porta)
8:35-8:40		Approval of minutes
8:40-8:50		Sponsor -- HANDS (Steve Chitwood)
8:50-9:10		Speaker -- Speaker -- Florida Community Loan Fund (Marilyn Kersher and Ignacio Esteban)
9:10-9:40		Other Items:  
     County HAC Report 
     City of Orlando HAC Report
     Counseling Collaborative
   New Business:
     Review correspondence
Next membership meeting -- Wednesday, May 26, 1999 @ 8:30 am at The Beardall Center
Adjourn	(TOTAL MEETING TIME -- 1 HOUR AND 45 MINUTES)

The Beardall Center, 800 S. Delaney Street, Orlando, FL 32806
Located at northeast corner of Orange Avenue and Gore Street.

Goal 1. To educate the entire community on the role of the nonprofit sector as an important partner in the housing delivery process.

a. Communicate housing and nonprofit needs to local area government

b. Develop quantifiable goals for the Roundtable to allow for evaluation of this organization's effectiveness.

c. Invite guest speakers to speak monthly. Pick out topic relevant to nonprofit housing providers (i.e. management, development, underwriting) and have speaker make 30 minute presentation.

Goal 2. To pool skills and resources of nonprofit housing producers and housing support agencies

a. To use the nonprofit Roundtable to gain organizational and functional strength to achieve our mission by convening regular meetings to share information, and to plan and coordinate activities of the participating nonprofits

b. To evaluate and prepare an annual plan that quantifies projects and funding needs of the participating nonprofits and prepare joint funding support request to the various funding entities

c. To promote and support emerging nonprofit housing organizations.

Goal 3. To pursue various partnership opportunities and linkages with for-profit developers and builders.

a. Strengthen relationships between nonprofits and private sector

b. To become active participants in the Homebuilder's association to cultivate support of for-profit developers and builders and to seek out opportunities for joint-ventures, other business relationships and mentoring.

Goal 4. To pursue activities that would increase the availability of low cost funds to nonprofits.

a. Subscribe to legislative, funding resource. Monitor and report on upcoming funding programs.

b. Develop calendar of funding source with contact, deadline and summary information.

Goal 5. To pursue activities that would encourage governments to provide grants and loans to nonprofits for technical assistance and housing production.

Present: Bonnie McCoy, Barbara Conover, H. Lewis Kellom, Berardo Barry Fuentez, John Huguenard, Barbara Morton,

Michael Daly, Jeanette Marcus, Bob Ansley, Kevin O'Rawe, Pat Braaf, Jed Baumwell, Frantz Dutes, Dawkins Hodges, John Hazelroth, Jill McReynolds, Adrienne deSouza, Evette Frances, Wheels Swoszowski, Scott Zimmerman, Kenneth Goodwin, Cynthia H. Smith, Constance Green, Randy Sprayberry, Ignacio Esteban

Agenda Item 1 -- Approval of Minutes

Motion to approve made by Lewis Kellom, seconded by Scott Zimmerman. Approved unanimously.

Agenda Item 2 - Presentation by HANDS

HANDS is a not-for-profit development corporation who has been operating in Central Florida for several years. They currently own over 800 units of housing in Central Florida. The following are some key points made during the presentation:

• They provide counseling, real estate development and resource guide, in addition to other housing related activities.
• They are always looking for joint ventures. They often participate with both nonprofit and for-profit organizations. Examples of this include Homes in Partnership and Orlando Neighborhood Improvement Corporation.
• They are now under contract for an additional 497 units and have options for 650 more units. Much of this acquisition has been facilitated through partnerships with private not-for-profit organizations and the use of tax exempt financing.
• One of their projects recently received the Gold Brick Award and it is a three story rehab project called Lake Davis Apartments.
• Another project is called Silver Pines, which is a 72 unit lot subdivision and they are currently working with Demetree on developing the second phase and are offering down payment assistance on this project.
• HANDS also buys HUD homes, pre-approves buyers, and obtains down payment assistance for them.
• In terms of joint ventures, in one case HANDS has worked with a local church in obtaining grants and managing the property. The management arm of HANDS has extensive experience with multi-family properties throughout Central Florida.
• In 1995, they issued their first tax exempt bond issue. They are now in the process of refinancing this issue from 7.8 percent to 6.2 percent. This rate differential is saving them approximately $150,000 in interest payments. For more information about HANDS, you can contact Steve Chitwood at 407-896-0805.

Agenda Item 3 -- Speaker: Ignacio Esteban, The Florida Community Loan Fund

Ignacio was on hand to talk about the Florida Community Loan Fund which is a not-for-profit organization providing capital to difficult-to-fund projects. Capital can be provided for not only housing, but also for economic and community development purposes. The following are some key points made during the presentation:

• •The loan fund is now in the process of hiring a loan officer. This will help them to increase their activity.
• In essence, the loan fund acts as an intermediary which bring capital from investors to nonprofit organizations. The sources of capital in the past have been religious organizations, foundations and banks.
• With respect to loans for not-for-profits, they look at the social impact of the loan. After that, they go through a standard underwriting test. Often times, the loans made to these groups are the only type of financing they can get. The underwriting of often less stringent and more flexible. In addition, they also provide technical assistance through the Florida Coalition. One year ago, they had 2-3 loans outstanding at $250,000. Now they have 14 loans outstanding at a total cost of 1.25 million.
• Central Florida has been the most active participant in the Community Loan Fund in accessing over 45 percent of all loans made by this organization. In the next five years, the goal is to lend out 6.5 million dollars over 85 projects. During that time, it is estimated that between 20-35 percent of all these loans will go to Central Florida, or 1.25 to 2.2 million dollars, for this region.
• The new director of the organization came aboard a year ago and her name is Marilyn Kerscher. She has both nonprofit experience and is an attorney. This combination has been very helpful in the organization's approach to lending. In addition to the Director, there are four other staff persons that work on the Community Loan Fund.
• The loan fund has a lending committee made up of representatives from Fannie Mae, Florida Credit Union, Farmworkers, Daytona Community Organization, and Orlando Neighborhood Improvement Corporation.
• The current rate is 6 3/4 percent, which is one percent below prime. Also, they have lower closing costs typically that you'll find from other lenders. The closing fee is 2 percent. One of the ways they keep the cost down is they use Florida Legal Services to provide pro bono legal work. The maximum size of the loan is tied to the loan fund but it is now $185,000. Soon this maximum size will double. The largest loan to-date has been $146,500 and the average is $75,000. The Community Loan Fund is willing to take a subordinate position and the terms will vary. The longest term, at the present time, is nine years and the shortest term is twelve months.
• The loan fund likes to tie loan repayments directly to funding sources, i.e. government funds. They like to see the loans collatorized in the form of land or buildings, and/or grant receipts.
• For more information, it is best to contact Marilyn or Stephanie at 727-578-2303, or contact Ignacio locally at 407-265-2724.

Agenda Item 4 - Counseling Collaborative Update (Randy Sprayberry):

• The Collaborative is now developing a website. Randy is looking for any information on your organization which you feel pertinent. This information will go onto the website.
• Randy distributed a code of ethics. These code of ethics will be signed by the individual agencies represented in the Collaborative. He would enjoy any feedback on this.
• The open house for the new corporate office of the Collaborative is set for June 8^th, at 4:30 pm. This grand opening will coincide with National Home Ownership Week and will be kickoff of our new office. We encourage all interested parties to attend and an invitations will be mailed out.

For more information on joining the Collaborative or information pertaining to the Collaborative, please contact Randy Sprayberry at 407-872-7773.

Agenda Item 5 - Miscellaneous Business:

• Mike Smith was on-hand from the Orange County Housing Finance Authority. Mike mentioned that the Florida Community Development Association is having their annual meeting in Orlando on June 16-18. They are looking for sponsors and are also willing to help not-for-profits promote their organizations. For more information, call Mike at 407-894-0014.
• Evette Frances was on-hand from Fannie Mae. She indicated that the quarterly newsletter from the Foundation is now out and the application for grants can be found on Fannie Mae's website.
• Frantz Dutes from Orange County was on-hand. He mentioned that they are terminating the infill program. Originally the infill program had seven responses, of which four were eligible. The total budget of $860,000, upon completion, will be re-allocated to other areas and used for down payment assistance. He also indicated that a Request for Proposal on home buyer education will be forthcoming within the next one to two weeks. For more information on this and other grants, please contact Frantz at 407-836-4240. Also, Frantz mentioned that they are now accepting applications for Section 8 certifications for physically disabled. They have approximately fifty slots and the certifications are for a two year period. Please contact him with any questions.

This concludes the end of the meeting minutes. The next meeting will be held on Wednesday, June 30, 1999.