Low Income & Affordable Housing
Cascade Management, Inc. is committed to providing the highest quality of management services to our clients. Our management structure is key to the success of our subsidized and affordable portfolio. We understand that the mission of our clients is fundamental in how we manage. Cascade Management has built flexibility into its management process to allow each contract to be managed with our Client’s mission as the motivating factor.
With over 20 years of Low Income Housing Tax Credit (LIHTC) Management experience and over 30 years of HUD and Rural Development (RD) experience, our portfolio has expanded to include over 200 affordable and subsidized properties. Many of the properties in our portfolio involve mixed funding sources that require extensive knowledge of multiple programs and their regulations.
Cascade Management has a staff of eight employees dedicated to handling program compliance requirements. The Compliance Team trains and supports staff in all aspects of program compliance including Fair Housing, agency reporting and ongoing training. Our dedication to affordable housing management has created strong and enhanced services in areas of Marketing, Compliance, Accounting and Property Management. Our flexibility and strength of supervision provide the foundation for all we do.
Cascade Management is based on fundamentals of “hands-on” management. This approach is accomplished by a team relationship between onsite staff and supervisory staff from our Central Offices. Cascade Management’s team approach is company wide across all departments and both of our Corporate Offices. Teamwork is necessary to provide consistent quality management services. Consistency of purpose and clarity are essential to our success.
Low Income Housing Tax Credit (LIHTC)
Cascade Management has a good working relationship with agencies and funders who work with us in partnership to assist in the development and review of policies and procedures. Cascade Management has extensive protection integrated within our procedures to assure the ultimate accuracy of every tenant file and has never had a tax credit recaptured.
The sophistication of Cascade Management’s Marketing Department has given us a significant advantage in the industry. Our ability to provide outreach efforts to the community, track lease up progress, and coach employees daily has allowed us to lease the last ten properties in our portfolio in an average of just over 1 month's time. This adds significant value to our clients including positive credit adjustments and early rental income upon construction completion. We are cautious in this approach to actively lease units quickly with good residents who are successful in their tenancy. We are also able to track occupancy on a daily and weekly basis, which leads to better management decisions and peace of mind for our clients.
Project Based Section 8
Cascade Management has managed Project Based Section 8 properties since 1974 and currently manages 12 properties that have undergone HUD Preservation and 50 properties with Project Based Section 8 contracts. Cascade Management administers all Project Based Section 8 contracts from its Central Offices including all certification and voucher transmittals.
Cascade Management is the industry leader in HUD project management and manages the largest portfolio of properties under the umbrella of the Portland HUD Office. We understand there are many nuances with managing HUD programs, which is why Cascade Management has a dedicated staff member assigned to working with HUD and tracking all regulatory changes.
In recent years, HUD Compliance has become increasingly difficult and complex. This not only affects existing residents, but also places a large time demand on site staff. Our Compliance Team takes great pride in working with site staff and supporting them through this process. To this end, many of our recent HUD lease-ups have occurred within one day to no more than one month. Coordination and experience in key positions allows this to happen efficiently and correctly. Lastly, Cascade Management is very well versed in the processes necessary for obtaining HUD approval for a management agent transition.
Cascade Management currently manages 26 properties that contain USDA Rural Development financing, most with Rental Assistance. Budget development and full program compliance with Rural Development’s challenging regulations are key in managing RD-515 multifamily housing and related programs. Budget development requires skilled work to maximize cash carryover, meet all debt requirements, and maintain the property.
Working with residents to comply with current regulations requires experience and capacity. Cascade Management employs a compliance specialist who is charged with Rural Development program compliance. Cascade Management further has developed a policy and procedure manual specifically for the Rural Development program to assist site staff and assure uniform compliance. Cascade Management is familiar with the Management Agent Interactive Network Connection (MINC) for all purposes including the transmission of tenant data. All MINC transmissions occur out of Cascade Management’s Central Office.
Cascade Management currently manages 54 properties with HOME funding. The majority of these properties are funded with Tax Credits, PDC Financing or other funding sources. Cascade Management has the flexibility and staff expertise to provide HOME specific leases, forms, unit inspections and reporting mechanisms.
Cascade Management currently manages three mixed-use projects and its own office building for a total of more than 50,000 square feet of retail and office space. Our own investment into managing commercial space has carried forward to our clients with thoughtful considerations and communication toward any building’s specific needs.
Experience and involvement with Permanent Supportive Housing
Cascade Management currently is under contract to manage several communities that include Permanent Supportive Housing units. Further, we manage five properties that are party to the Risk Mitigation Pool. Efforts have been taken as a community to identify how we all need to be accountable to end chronic homelessness in the City of Portland. It is our role, as Agent, to be equally accountable to residents, service providers, the Risk Mitigation Pool and to the community as a whole.
Cascade Management’s commitment to affordable housing and services run deep. Our commitment includes active involvement on the Risk Mitigation Pool Advisory Committee. Cascade Management further works as partners with numerous agencies within the City of Portland and all of Oregon across our portfolio.
Mixed Income and Special Needs Populations
The large majority of affordable units in Cascade Management’s portfolio serve mixed income resident populations. The Marketing Department within Cascade Management carefully evaluates each property to make sure each market is clearly identified with a strategy in place for each. Identification and implementation of a plan for each of these markets is critical to not only an efficient lease-up, but also to creating long term tenancy, both goals to maximize the long term investment to our Owners. Cascade Management has successfully leased and retained residents at all income levels between 30% and 80% of area median income for projects located in Portland. We have succeeded with close agency relationships and traditional marketing efforts. Additionally, a sense of pride, ownership and consistency from onsite staff is crucial to ensure success.
Cascade Management has further specialized in management of special needs populations. In addition to several HUD 811 units in our portfolio, roughly 40% of all remaining units are reserved for Seniors or the Disabled. The flexibility of our systems allows Cascade Management to provide enhanced property management services that allow long term financial success of the properties while developing a supportive community for our residents. Maximizing existing relationships with agency partners greatly enhances our ability to provide a long term housing community for our residents.
Local Service Partners
Cascade Management works closely with clients, housing partners and service providers to deliver custom property management services that match the unique property characteristics and intended housing goals of the projects we manage. As the affordable housing programs have become increasingly “layered” over recent years, and as Portland in particular has created programs aimed at supporting and housing hard-to-house populations, building, managing, and maintaining successful relationships with service providers participating in programs like Fresh Start has become increasingly important. Likewise, opening the door to applicants that have graduated from the Ready to Rent program not only helps to meet a housing providers goal of providing a home to a person or family with housing barriers, but is also a great leasing tool. We have also been involved in partnerships that require an even greater level of customization, such as the thorough tuning of criminal history limitations or the creation of pre-screening criteria to be utilized by the participating service providers prior to referral.
Collaborating with Service Agencies
One of the benefits of having worked in affordable housing for as long as we have has been the partnerships and relationships that we’ve had the chance to forge with the various non-profit agencies operating in the Portland Metro area that are committed to affordable housing.