This is a private proposal from a non-profit organization that is community based seeking funding from Aghakhan Foundation to form a new housing management company that is of low income. Slum Upgrading Association (SUA) is requesting a grant from Aghakhan Foundation to strengthen the capability of our organization by financing the anticipated planning of two years, implementation, development, startup and period for expansion for our new company for housing management.
Our successful comparative venture bid to do management of 300 units of low income multifamily homeownership housing, under ownership of the Dhahran city, sets off our management program that is expanded to attract the working families and individuals back to an economic area that is revitalizing, and continue to rebuild and stabilize this community’s economic base (Al-Ankary and Bushra, 2009).
However, the Slum Upgrading Association current structure of the organization does not include the required separate company of housing management prescribed by the city council of Dhahran in order to qualify to sign any municipal contract to manage some properties of the city (Dasgupta et al, 2006). The Association will create subsidiary company for housing management structured to create and develop a private/public partnerships tailored to satisfy the criteria of the city.
Furthermore, the Association will be able to make contracts with the city to manage a section of the 2500 city owned occupied scattered, inadequately maintained and sub standard housing units within the community area we deliver our services. The new company for housing management will also enable the association to effectively and independently manage the buildings that are currently in the Associations ownership and management.
- Project activities
Establishing a new company for housing management will allow Slum Upgrading Association to expand and improve the association’s fast paced housing agenda for two years efficiently, responsibly and effectively. The new company for housing will formulate a reliable mechanism to quickly respond quickly to shifting external and internal circumstances of the market, and coordinate the Associations action plans of the management through the joint ventures (Common Wealth, 2004).
The association will use the Aghakhan Foundation funds to form a company for housing management that will forge public and private company partnerships to manage the 300 controlled or city owned low income homeownership units of housing in the Eastern community. The Aghakahan Foundation funds will improve greatly delivery of services by the competent management to more than 5000 Slum Upgrading Association residents in about 150site buildings that are scattered, an estimate of a small town (McLeod et al, 2009).
|SOURCES||AMOUNT ($)||USES||AMOUNT ($)|
|Revenue||General operating support|
|Government grants and contracts||300,000||Salaries and the fringe benefits||700,000|
|Banks and foundations||100,000||Insurance and taxes||600,000|
|Fundraising||In kind expenses||100,000|
|Donations||400,000||Supplies and Equipment||500,000|
|In kind support||200,000||Savings||90,000|
- Programs and accomplishments
Every year, we do help the residents reclaim their neighborhoods back from decay, crime and drugs. Building by building, the association has developed averagely 70 affordable units of housing for the past three decades (Oxley, 2004).
The current portfolio of housing management represents the whole ladder of housing, ranging from housing the households that were formerly homeless to ownerships of homes for the low income working families. The association’s tremendous growth of ten years attests to the proficiency
In 2009 alone, Sum Upgrading Association completed 30 buildings with 320 apartments, and even started another 160 units in 15 buildings. This is about $50 million for one year in constriction.
The association built housing for the physically handicapped and the elderly on the formerly garbage and heroin dens. Today, there are parks with flowering plants and trees, sitting areas and about 120 beautiful housing apartments housing the senior people in dignity and peace.
- Plan for measuring the expected results
The association will measure the housing management project by many housing programs and initiatives for housing management which the association has developed and implemented for the past three decades, and which have significantly impacted already the quality housing management practice in Dhahran community, and which rest as a model to the city.
The association will also submit a report of the project upon completion, funded in part by Aghakhan Foundation. The Association will also keep complete, accurate and detailed records of expenditures made under the Aghakhan Foundation grant, and actively participate in the evaluation of the activities of the projects during the course of the year.
The association will also provide, upon request, an audited financial statement of the expenditure and income related to the grant by a qualified public accountant who is self sufficient as documentation that the money from the grant is spent on the provided purposes. Furthermore, evaluation of the Slum Upgrading Association overall effectiveness is measured by satisfaction of the residents, and the level of tenant services that are provided and successful. The tenants serve as board of directors and are closely involved in the management, programs and oversight (Common Wealth, 2004).
The community we serve is a collection of numerous sub communities including variety of new and old mixed use residential buildings, small and retail manufacturing firms, and many elevator–type public housing that are conventional. Approximately half of the community’s land and housing is city owned. Furthermore, the area is a blend of ethnic groups, most of whom have median household of $15,000 and poor (Al-Ankary et al, 2009).
The need for housing that are affordable is a matter of urgency that what the data of census reveals. This under reporting can be attributed largely to illegal aliens, many public housing residents and language barrier, which makes official reporting of census very difficult.
Slum Upgrading Association is a recognized nonprofit champion in affordable housing management and development in Dhahran city, with $2 million budget for operations and management portfolio of 150 buildings of 2500 units. According to Dasgupta et al (2006), the city also has a commitment of privatizing buildings management. The low income housing future in this community will be effectively be answered through private-public partnerships, with backing and support of the community, and the producing capability and managing the community housing of the low income residents.
A grant from Aghakhan Foundation will provide Slum Upgrading Association the opportunity to form the private-public partnership with the city to effectively manage 300 low income cities’s owned home ownership housing units in the community. Furthermore, it will continue to improve, preserve and dignify the community’s fabric.
Al-Ankary, K. M., & Bushra, -S. (2009). Urban and rural profiles in Saudi Arabia. Berlin: G. Borntraeger.
Dasgupta, B., Lall, S. V., & World Bank. (2006). Assessing benefits of slum upgrading programs in second-best settings. Washington, D.C: World Bank, Development Research Group, Infrastructure and Environment Team.
McLeod, R., Case, L., & United Nations Human Settlements Programme. (2009). Guarantees for slum upgrading: Lessons on how to use guarantees to addresss risk and access commercial loans for slum upgrading. Nairobi: UN-HABITAT.
Oxley, M. (2004). Economics, planning, and housing. Houndmills, Basingstoke, Hampshire: Palgrave Macmillan.