FCHC Annual Report 2020

FCHC Community Engagement

Housing Commission FCHC continues to serve as a liaison to the Falls Church Housing Commission. FCHC’s liaison role provides not-for-profit private sector experience to the Housing Commission and advice on issues related to housing, urban development, and affordable housing.

Supporting Affordable Housing in the Washington, D.C. Metropolitan Area Per the expansion of the organization’s mission statement, FCHC functions as a lending institution, concentrating on establishing returns from socially responsible investments in the region’s affordable housing stock. As of the end of 2020, FCHC’s investments in affordable housing (via the advancement of predevelopment and bridge funding) have helped facilitate the construction of 814 units at four properties in the District of Columbia and two properties in Maryland. FCHC will continue to evaluate meaningful projects in which to invest, and which further the crucial mission of the organization in expanding the stock of valuable subsidized housing in the region. FCHC Portfolio Asset Management (CDBG) Operations at Winter Hill continued to be very stable in 2020. Winter Hill was virtually 100% occupied in 2020 with minimal turnover, and annual vacancy loss was less than 2%. 2020 net cash flow at Winter Hill after debt service and capital repair expenses was $310,637. The City of Falls Church continues to be very supportive of our mission at Winter Hill as several projects have been completed in the past years using Community Development Block Grants (“CDBG Funds”). In 2019, Winter Hill was awarded $63,000 in CDBG funds which was used to reface 23 balconies. The refacing of the balconies was completed in late 2020. Future CDBG funds will be used to reface the remaining eight balconies at Winter Hill as well as replace all storm doors at the property.

Winter Hill is projected to continue stable operations in 2021.

Operation Pathways Programming for FCHC Residents Operation Pathways programs for all FCHC residents are conducted in the James Moran Community Center at Winter Hill. Under the thoughtful leadership of the RSC at Winter Hill, Dong Bui, FCHC offered a variety of programming in Fiscal Year 2020.

FCHC | Fiscal Year 2020 Annual Report