Multifamily State Housing Authority Solution

Background

An industry-leading HFA recognized that as their multifamily portfolio has grown, so too has the complexity and overhead of managing disparate legacy systems within each of their departments. The decision was clear but intimidating: find a software solution that will integrate, consolidate, and improve their multifamily business processes.

The Challenge

Housing authorities across the nation face the challenges of increasingly higher demand for affordable housing with reducing support from state and federal resources. Although providing low and middle income families access to safe, affordable housing is at the heart of their initiatives, running an efficient and accountable operation is no easy undertaking in our current economic climate.

This HFA recognized that asset managers were entering the same data into one system that new development officers had already entered into another system. Each department began to question the accuracy and timeliness of their data. The staff became frustrated at the time spent reconciling duplicated data, asking themselves:

• How many different versions of the same data do we have?
• Are things getting lost, slipping through the cracks in a misplaced spreadsheet?
• Are portfolio decisions being made based on valid data?
• Do decision-makers have access to all the data they need?

The Solution

ProLink simplified the complexities associated with managing multiple affordable housing programs by integrating multifamily development, tax credit allocation, and asset management processes into a tailored enterprise-grade software solution. Capabilities previously absent are now easily accessible, enabling users to:

• Manage all properties in a central database
• Understand pipeline activity across the organization
• Validate information captured during each stage of a new deal
• Synchronize underwriting spreadsheets with the database using ProLink SmartDox for Excel
• Rank and pool eligible properties for annual tax credit allocation cycles
• Approve budget and draw requests during the construction phase
• Track submission of monthly financials by owners and property managers
• Analyze the portfolio for potential risks
• Evaluate bond allocations in real-time
• Access executive dashboards to understand portfolio trends

The Results

The days of misinformation, lost information, and piles of paper are now a distant memory. With ProLink HFA, each business unit understands exactly what information has been entered, when it was entered, and by whom. Collaboration and data sharing between departments has become a reality, allowing users to become more productive and concentrate on what really matters – helping those who need it most.

Built on the proven ProLink Framework, our web-based housing agency solution can be uniquely tailored to satisfy each authority’s needs, allowing your focus to remain on promoting and providing affordable community housing.