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Asset Management is the product of a market-driven economy. Asset Management,
as it relates to multi-family property management, views each development
or property as a distinctive "product," an asset generally
worth millions. The value (both financial and intrinsic) must be preserved.
This preservation is best accomplished by vesting maximum feasible authority
at the site level.
Asset Management, until recently a predominately private-sector housing
approach, will be a major component of "Public-Sector Housing Management
in the 21st Century"! Housing Officials and Managers must assess
their affordable housing market, define their mission, take stock of
the existing product line and be ready with the skills and tools required
to restructure (if necessary) the product line.
NAHRO's Asset Management seminar will give executive directors, property
managers, commissioners and management staff a comprehensive overview
of today's market-driven asset management arena. It will help them to
understand what asset management is all about. Additionally, it will
help them to define their roles in this field of real estate/property
management and to navigate an effective course to meet this affordable-housing
preservation challenge.
Topics of Instruction and Discussion
- Definition of Asset Management
-Distinguishing Characteristics and Behaviors
- Philosophy of Asset Management
-Public Housing: Central Planned (Command) Economy
-Private and Assisted Housing: Market-driven Economy
- Site-based Financial Issues
-Revenue Planning/Staffing Decisions/Utility Expenses/Replacement
Planning
- Asset Management Approach to Maintenance
-Planned Maintenance/Comprehensive Property Inspections/Resident Call-ins
- Site-based Procurement
-Multiple Bids/HUD Procurement Regulations/Competitive Negotiations
- Senior Staff
- Case Studies
-Market Studies
-Revenue Planning
-Site-based Financial Decisions
-Hypothetical Portfolio (teams use assigned properties and resources
from its
- Capital Fund" (play money) and employ the various re-tooling
tactics)
- What Is Retooling? The Mix: Owning; Managing; Facilitating
- Retooling Tactics:
-Buy (e.g. acquire more just like it)
-Sell It/ Borrow Money on It
-Syndicate (tax credits or other forms of equity)
-Manage (or hire some one else to)
-Upgrade/ Demolish or Dispose of It
-Acquire Control of Similar Units
-Partnership
- How to Pay for Retooling/Financing:
-Low Income Tax Credits
-Historic Preservation Tax Credits
-Conventional and Public Borrowing
-Effective Use of Capital Fund
-Implementation of Replacement Reserve
Asset Management Seminar Agenda:
Day One - 8:00 a.m. - 4:00 p.m.
- Introduction
- What is Asset Management?
- The Philosophy Behind Asset Management
- Mission and Market Sensitivity
- Taking Stock of Present Conditions
- Redefining Organizational Mission
- Retooling the Inventory
- Case Study, Part 1: Mission and Market Sensitivity
- Wrap-Up Day One
Day Two - 8:00 a.m. - 4:00 p.m.
- Review of Day One
- Introduction to Site-Based Financial Issues
- Case Study, Part 2: Site-based Financial Decisions (including revenue
planning)
- Revisit Site-based Financial Issues - A Review and Discussion:
- Other Steps in Implementing the Philosophy
- Wrap-up Day Two
Day Three - 8:00 a.m. - 4:00 p.m.
- Retooling the Portfolio
- What is Retooling?
- Retooling Tactics
- How to pay for Retooling
- Case Study, Part 3: Retooling the Portfolio
- Wrap-up Day Three
NAHRO Faculty
Dennis R. Mobley has over a quarter century of experience
in a wide range of community-based housing and program planning activities.
He served as budget officer and grants administrator for the Housing
Authority of Baltimore City, and created collaborative budgeting and
planning systems involving residents and staff at all levels. As Vice
President of the National Center for Housing Management he helped translate
his practical experience into professional training and certification
programs for housers across the Nation. Since 1990, Mr. Mobley has independently
provided professional consulting and training to hundreds of public
housing practitioners, partially through his association with NAHRO.
Much of this work has involved developing and delivering quality training
programs, and integrating such training to computer-based modeling of
project-based property management approaches wherever possible.
Dr. Thomas E. Nutt-Powell, AICP, founding principal of Capital
Needs Unlimited (CNU), is nationally recognized as an expert in housing,
planning and development. His career spans three decades of service
to both public and private sectors, in the United States and abroad.
During this period, Dr. Nutt-Powell has been involved in professional
practice, teaching and research. His more recent professional activities
have focused on practical solutions to complex problems, notably in
the areas of multi-family housing, capital needs, and strategic planning.
Interested?
Contact Sharon Sherrill, NAHRO On-site Seminar Administrator, at 1-877-866-2476,
ext. 271 or by e-mail ssherrill@nahro.org.
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