The Ahepan Summer 2021 - 27

HOUSING
Preservation Equally Important
as Production to our Mission
AHEPA Affordable Housing Management Company
President and CEO Steve Beck
At AHEPA Affordable Housing Management Company (AMC), our
mission to provide dignified and safe affordable housing for our
nation's very low-income seniors and disabled populations
does not end once a new multifamily housing
community is constructed and occupied with
residents. The preservation of AMC communities
is equally important to our mission and residents.
A vast majority of our HUD Section 202 communities
operate with Project Rental Assistance Contracts, known
as " PRACs. " PRAC communities cannot take on debt to undertake
significant repairs and renovations. This fact presents a financial
challenge for Section 202 PRACs to preserve themselves for future
residents. However, through a program authorized by Congress in
2018 that expanded HUD's Rental Assistance Demonstration program
for Section 202 PRAC communities (dubbed " RAD for PRAC " )
- a policy for which AMC advocated - the ability to finance major
renovations to preserve affordable housing for older adults is now
possible. RAD for PRAC is so new that the first RAD for PRAC deal
closed in Ohio in August 2020 with a property managed by National
Church Residences.
This year, 11 of our 202/PRAC communities located in Mobile,
Alabama (Phases Five, Six, and Seven); Columbia, S.C. (four phases),
Montgomery, Alabama (three phases), and Faribault, Minnesota, all
of which are well over 20 years with significant renovation needs,
are prime RAD for PRAC candidates. Therefore, it makes sense for
AMC to pursue RAD for PRAC as a preservation tool to ensure our
residents are living in the best, most updated, and safest possible
environments.
The second half of 2021 promises to be exciting for AHEPA
National Housing. We will be working diligently to preserve our
existing affordable elderly housing portfolio to the continuing benefit
of our nation's low-income seniors. Additionally, in the fall, we
anticipate a reply from HUD on two grant application submissions
for the development of new HUD 202 communities in South Bend,
Indiana, and Des Moines, Iowa. As part of our strategic plan, we aim
to construct larger 202 communities going forward. If successful,
South Bend, a proposed 80-unit community, and Des Moines, a proposed
100-unit community, will meet our new goal.
ANHC Announces $100K
in Donations
AHEPA National Housing Corp. (ANHC) President
Carl Hollister, PSP, talked AHEPA's Affordable Senior
Housing program and announced a $10,000 donation
in memory of former ANHC Executive Board Member
George Anagnostos to the Hellenic Chronicle Digitization
Project during an interview recorded live on WNTN
1550 AM " Global Echoes, " April 5.
From 1950 to 2000, the Hellenic Chronicle became an
important newspaper of record for the Greek American
community, including covering the early beginnings of
the AHEPA Housing program.
Brother Anagnostos also served as Past Supreme
Secretary and as a member of the The Ahepan Editorial
Board. Further, Brother Anagnostos served as managing
director of the Hellenic Chronicle from 1990 to 2000.
Moreover, lifelong Ahepan Peter Agris, who served
AHEPA as National Communications Director and as
chair of the National Publications Board, founded the
Hellenic Chronicle.
Separately, ANHC President Hollister presented
Supreme President George G. Horiates with two donations,
totaling just under $100,000 in support of AHEPA
programs, on March 19, 2021. The donations supported
the AHEPA Journey to Greece program and in support
of The Ahepan magazine. Further, Hollister announced
donations to the Daughters of Penelope, Sons of Pericles,
and Maids of Athena.
www.ahepa.org
Summer 2021 ยท THE AHEPAN | 27
http://www.ahepa.org

The Ahepan Summer 2021

Table of Contents for the Digital Edition of The Ahepan Summer 2021

The Ahepan Summer 2021 - Intro
The Ahepan Summer 2021 - 1
The Ahepan Summer 2021 - 2
The Ahepan Summer 2021 - 3
The Ahepan Summer 2021 - 4
The Ahepan Summer 2021 - 5
The Ahepan Summer 2021 - 6
The Ahepan Summer 2021 - 7
The Ahepan Summer 2021 - 8
The Ahepan Summer 2021 - 9
The Ahepan Summer 2021 - 10
The Ahepan Summer 2021 - 11
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The Ahepan Summer 2021 - 27
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