Sweeney Consulting Group - Affordable Housing – Phase 2

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Project Overview

Sweeney Consulting Group, LLC – Affordable Housing – Phase 2 solution will be to accomplish the following goals to provide affordable housing for seniors and low-income families. The initial market area will be for the residents of Greenville County, South Carolina and surrounding areas. 1. Identify existing land to purchase for building senior apartment housing communities. a. Senior Population (62+) – help seniors by building 500 1–bedroom accessible apartments accepting HUD housing assistance as full rent, approximately $700 per month. This will help our senior citizens have more discretionary funds and enable them to lead a healthier, happier life in their golden years. i. Since it takes 38 months for an applicant who qualifies for HUD housing assistance to get the help they need, our solution will include $700 per month Rent Grants for those who are waiting for their HUD subsidy to take effect. This Rental Grant will allow seniors in need to move into our 1-bedroom apartments immediately and start enjoying their retirement with other seniors. 2. Identify existing land to purchase for building affordable housing communities. a. Low Income Population – help low-income residents and families in South Carolina by building 1000–3-bedroom single family homes accepting HUD housing assistance as partial rent towards monthly fee of $1300 . This will help families and individuals live in above standard housing and encourage future home ownership. i. Since it takes 38 months for an applicant who qualifies for HUD housing assistance to get the help they need, our solution will include Rent Grants for those who are waiting for their HUD subsidy to take effect so families can move into our 3–4-bedroom single family homes immediately and start enjoying their affordable home. ii. Register each applicant into a Homeowner Education curriculum to help them learn about budgeting and the responsibilities of a homeowner. The goal will be for the applicant to qualify for a lease/purchase option of the home after 1 year. iii. After 1 year of rental payments, the applicant will work to qualify for a Homeowner Mortgage for 30 years @3% interest. 3. Partner with local construction companies to assist with clearing and prepping land per county codes. 4. Create a network of Minority owned businesses to partner with and build affordable housing communities. 

Executive Summary

Sweeney Consulting Group, LLC is a 6-year-old privately owned business in Simpsonville, South Carolina. South Carolina has experienced significant population growth throughout the previous decade that has far outpaced the national average. These population gains have come primarily through high rates of in-migration from other U.S. states – rather than being the result of an increase in the number of births. As a result, the state’s population gains have led to high rates of household formation, which translates into strong housing demand. The number of households in South Carolina increased by 16.4 percent between 2010 and 2021, compared to just 11.3 percent for the U.S. Sweeney Consulting Group, LLC will provide affordable apartments for the senior population and affordable housing for low-income families for the residents of Greenville County and surrounding areas. Mission Statement: To provide access to communities with affordable housing for seniors and low-income families of Greenville SC and surrounding areas along with education on the steps to become a homeowner. The day-to-day operations for Phase 2 will be performed by Tammy Sweeney along with the assistance of a Construction Project Manager and 2 additional Executive Administrators responsible for identifying opportunities to purchase land for construction of senior apartments and single-family homes. Once identified, a project will be created to purchase property and begin the steps to contract with local construction companies/suppliers to gain the necessary county approvals to begin construction. As each plot of property is purchased, a network of skilled labor will be formed work with the construction companies to build the communities each housing project. Offering work to Minority owned businesses will be the priority to help provide funding for their businesses to continue growing. Skilled labor businesses include but not limited to: • Builders – external and sheet rock • Concrete finishers • Electricians • Flooring – tile/carpet/hardwood • Brick and Vinyl • Carpenters • Plumbers • Glass and Window Installers • Landscaping and Land Grading • Home Improvement Businesses

Funds Required

$ 612,975,000.00

Draw schedule

First Draw: $ 312,975,000.00
Second Draw: $ 100,000,000.00
Third Draw: $ 50,000,000.00
Fourth Draw: $ 50,000,000.00
Fifth Draw: $ 50,000,000.00
Sixth Draw: $ 50,000,000.00