Housing Authority of the County of Santa Clara is turning to third-party property managers in order to free up funding for more housing and better services

There’s only so much funding for US housing authorities to obtain from federal, state, and local grants, so there’s a movement afoot for the US government to allow those authorities to tap more private equity and private debt for the financing of projects. Alex Sanchez, executive director of the Housing Authority of the County of Santa Clara (HACSC) in California, knows it’s a winning formula because his is one of the few organizations already doing it. The HACSC was selected for Moving to Work, a HUD demonstration program that allows housing authorities to try to reduce the cost of housing through innovative methods, and the HACSC has already managed to save money by allowing private firms to manage its properties. After a public RFP, the HACSC chose the John Stewart Company, FPI Management Inc., and Charities Housing to improve the performance of properties, and the cost savings enabled the authority to complete $3 million worth of capital needs repairs and add more services such as social workers and after-school programs.

American Builders Quarterly

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