HomeMy WebLinkAboutFY 2023 (Housing Agency)KAUA`I COUNTY HOUSING AGENCY
FY 2023 BUDGET AND OPERATIONS SYNOPSIS
Adam Roversi
Director
Department: HOUSING AGENCY
Fund: GENERAL FUND
1. FY 2022 to FY 2023 BUDGET COMPARSION
FY 2022
FY 2023
$ + / -
% + / -
Salary and Wages
730,820
704,050
-26,770
-3.7%
Benefits
441,351
423,630
-17,721
-4.0%
Utilities
0
0
0
0.0%
Vehicle/Equip, Lease
8,001
8,001
0
0.0%
Operations
211,248
223,498
12,250
5.8%
1,391,420
1,359,179
-32,241
-2.3%
FY 2022 Operating Budget
■ Salary and Wages
0
1 15%
0%
■ Benefits
Utilities
■ Vehicle/Equip,
Lease
Operations
FY 2023 Operating Budget
■ Salary and Wages
1% 16% ■ Benefits
0%
Utilities
■ Vehicle/Equip,
Lease
Operations
FY 2022 and FY 2023 Comparison
800,000
700,000
600,000
500,000
400,000 0 FY 2022
300,000 FY 2023
200,000
100,000
0
Salary and Wages Benefits Utilities Vehicle/Equip, Operations
Lease
1
Department: HOUSING AGENCY
Fund: REVOLVING FUND
FY 2022
FY 2023
$ + / -
% + / -
Salary and Wages
0
0
0
0.0%
Benefits
0
0
0
0.0%
Utilities
0
0
0
0.0%
Vehicle/Equip, Lease
0
0
0
0.0%
Operations
3,083,201
3,738,201
655,000
21.2%
3,083,201
3,738,201
655,000
21.2%
FY 2022 Operating Budget
■ Salary and Wages
■ Benefits
Utilities
FY 2023 Operating Budget
■ Salary and Wages
■ Benefits
Utilities
■ Vehicle/Equip, ■ Vehicle/Equip,
100% Lease 100% Lease
Operations Operations
FY 2022 and FY 2023 Comparison
4,000,000
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
Salary and Wages Benefits Utilities Vehicle/Equip, Operations
Lease
0 FY 2022
9 FY 2023
2
2. MAJOR CHANGES AND/OR VARIANCES IN OPERATIONS BUDGET
For FY23 we are projecting a $26,770 or 3.7% reduction in salary and wages and an increase in
operations cf $12,250 or 5.8%. The reduction in salary and wages is due to a position in the
development division being 100% funded in FY22 to funded 66% with HOME and HTF grant and 34% with
general fund in FY23. The increase in operations is due to the cost associated with grant management
software.
3. OPERATIONAL CHALLENGES
Our two primary operational challenges are the administration of a continued increase in
participation in the federal Housing Choice Voucher (HCV) program, and a continuing struggle to
build alternative funding sources for direct County development of affordable housing projects.
With regard to the HCV program, total participation in FY22 held steady at a total of 900 participants.
The steady number of participants, though a benefit to our community and program success, has met
numerous obstacles with the limited number of units available to participants. With the proposed Housing
Navigator/Landlord Engagement Program we intend to establish a link between landlords and property
managers with potential rental units and households experiencing the challenges of finding and securing
safe housing.
With regard to development funding, the Housing Agency needs to increase, or at the very least
preserve, direct County funding for affordable housing development through the Housing
Development Fund, or other funding sources so we are not dependent on federal low-income
grant programs and tax credits. Direct County funding through the Housing Development Fund
provides much needed funds that may be administered with significantly more flexibility and
creativity then existing federal programs. We are in the process of procuring bond counsel to
assist with project specific revenue bonds.
4. TOP 3 OPERATIONAL HIGHLIGHTS FROM FY 2022
Operational Highlights include the continued expansion of our HCV program described above,
the completion and full occupancy of the 54-unit Pua Loke Apartments in Lihue, and the
completion of Phase I infrastructure development at the Lima Ola Workforce Housing
subdivision.
Our continued expansion of the rental assistance program participation provides desperately
needed housing support as housing prices continue to increase even as local residents continue
to recover from the economic hardship due to Covid-19. The program continues to pump more than
$11.8 million a year into our economy in the form of rent payments.
In January 2022 we completed the construction of Phase I infrastructure work at Lima Ola after
nearly a decade of planning. This water, sewer, electrical, and roadway infrastructure will provide
the foundation for approximately 150 affordable homes.
Lastly, in November 2021, we completed the 54-unit Pua Loke Apartments Affordable Housing
Project in Lihue. These 1-, 2- & 3-bedroom apartments will serve those households that are 60%
of the area median income and below. Five (5) of the units have been set aside for households
that are experiencing homelessness using the Housing First model.
3