Rimrock Housing Group
providers of affordable housing
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ABOUT US

RIMROCK HOUSING GROUP

Providers of Affordable Housing



Philosophy

to increase the supply of quality affordable housing for low- and very 
low-income households by: 

improving the quality and long-term affordability of the existing 
housing stock; 

constructing new housing utilizing existing programs available 
through local, state and federal programs; and

creating new housing from adaptive reuse of non-residential 
properties such as warehouses, outmoded commercial 
buildings and non-performing commercial hotels

Programs

Rimrock Housing Group implements this philosophy by acting in a 
variety of capacities to provide or assist in providing such housing.

The programs which Rimrock Housing Group provides include:

Acting directly as a developer of low-income housing to expand 
and preserve long term, quality affordable housing stock

Serving as a capacity builder, seeking to increase the 
resources and capabilities of local community organizations to 
increase the available affordable housing

Providing technical assistance to other organizations for the 
implementation of improvement projects or community service 
programs located within the housing developments in which the 
Rimrock Housing Group is involved

Acting as a joint venture partner to a for-profit housing developer 
in need of Rimrock Housing Group's expertise and access to 
capital

Implementation

Rimrock Housing Group is an organization which can make housing 
happen within reasonable time periods.  Too often, not-for-profit 
organizations have goals which are not clearly focused enough or 
lack the requisite expertise to carry out their mission of delivering 
affordable housing to a community.  Rimrock Housing Group and its 
officers and directors bring an extensive background and experience 
in the area of affordable housing to bear on the complex problems 
surrounding the planning and implementation of providing adequate 
low-income housing to communities.  It has the resources and the 
knowledge to use such resources to make quality low-income 
housing available to communities within the shortest possible time 
frames consistent with the creating of quality communities.

It has the ability to source, secure, receive and administer funds from
public or private sources.  Securing such financing is fundamental to 
the success of any project and is an area in which Rimrock Housing 
Group has considerable expertise.  The development of successful 
housing communities in today's marketplace demands the 
integration of public and private sources of capital in order to provide 
for the long-term viability of the communities being created.  Rimrock 
Housing Group understands this need and provides for its projects 
and to other organizations similarly engaged, the knowledge 
necessary to access public grants, public below market interest rate 
loans, private construction and permanent financing, equity capital 
and various forms of tax credits and property tax abatements.

Rimrock Housing Group is familiar with, and, through its staff and 
directors, provides the knowledge and experience to effectively 
respond to the political realities facing the development of affordable 
housing.  It can meet with local government bodies, explain the 
needs of the community, respond to concerns which are raised and 
to work with local organizations and politicians to achieve the 
common goal of increasing quality housing available for low-income 
residents.

Its familiarity and extensive background in the management of 
affordable housing, tax credit projects and otherwise rent restricted 
units can mean the difference between success and failure of a 
project.  Architectural aesthetics, housing liveability, proximity to 
services, local weather and climate, attributes of the tenant 
populations being served, staffing, competition, financial reporting, 
community programs and other factors are all important to secure 
the on-going success of any rental community and Rimrock Housing 
Group understands this and can provide the guidance for less 
experienced for-profit or not-for-profit organizations required to ensure 
a successful project.

Development Expertise

Rimrock Housing Group, through the backgrounds and extensive 
experience of its officers and directors, has the required development 
expertise to conceive a project and to see it through the often 
complex and convoluted development process.

The officers and directors, during their careers, have assisted others 
in all aspects of the development for over 100 properties, many of 
which were for low-income tenants and which were financed through 
the Farmer's Home Administration (Section 515 program), the U.S. 
Department of Housing and Urban Development (Sections 221(d)(3), 
221(d)(4), 236), state housing agency programs, and the current tax 
credit program authorized under Section 42 of the Internal Revenue 
Code.  Many of the projects also received rental assistance funds, 
project based or voucher Section 8 subsidies, or had units that were 
rent restricted and required tenant incomes to be verified.

Direct supervisory experience of the directors and staff of Rimrock 
Housing Group which relates to the development process includes

Site Selection      Construction
Zoning Variances Rent-Up
Market FeasibilityProperty Management
Project Design    Asset Management
Permit Process   Securing Equity
Securing Tax Credits   Compliance Monitoring
Securing Grants   Income Certification
Securing Loans   Joint Ventures
Bond Financing   Limited Partnerships


Management Expertise

Perhaps more than any other aspect of the housing process, the 
ability to provide top management expertise can make the difference 
between the success and failure of a project.  Rimrock Housing 
Group has the required property management, asset management, 
project management and financial management expertise to help 
bring about the initial and long-term success of a project.

Property Management

The combined experience of the officers, directors and staff of 
the organization includes the direct supervision of the property 
management process for a wide variety of residential real estate 
communities including those created through the Farmer's 
Home Administration (Section 515 program), the U.S. 
Department of Housing and Urban Development (Sections 
221(d)(3), 221(d)(4), 236), state housing agency programs, the 
low-income housing tax credit program and conventionally 
financed apartments.  This experience includes the selection 
and monitoring of resident managers, dealing with tenant 
concerns and problems, project operation and maintenance, 
governmental reporting and compliance, legal issues, 
budgeting, rent-up, rental increases or decreases, minority 
contracting, special needs of specific tenant groups served by 
projects (such as large families, physically disadvantaged 
persons and senior citizens).

Asset Management

In today's world, and particularly for long term real estate 
projects, the management of the asset is a key concern.  
Rimrock Housing Group is familiar with the variety of ownership 
structures and required reporting requirements for joint ventures, 
limited partnerships, general partnerships, corporations and 
limited liability companies.  It also has extensive experience in 
securing adequate insurance for properties, dealing with 
inevitable fire loss and liability claims and in monitoring the level 
and adequacy of replacement reserves for a project and the 
disbursement of such funds to keep the project in a good level 
of repair.

Project Management

Successfully coordinating the activities of the architect, 
contractor, government agencies, lenders and owners can 
make the difference between a successful project or one that 
fails.  Achieving a harmonious union of efforts of these 
participants in the development process demand the level of 
skill possessed by Rimrock Housing Group.  Its officers, 
directors and staff have assisted companies and individuals in 
this process for over 20 projects during the past 20 years.

Financial Management

Financing

Management of the funding process for a project can be a
complex task.  Often an affordable housing project will need 
several different sources of funds such as construction 
financing, permanent financing, so-called soft second 
mortgages or other below market interest rate debt secured 
from public agencies, bond financing and equity.  Each of these 
sources of funds usually comes from a different source each of 
which has its separate and distinct requirements, application 
procedures and funding time frames.  Rimrock Housing Group 
is familiar with each of these sources and how they interact to 
provide the required money required to construct or rehabilitate 
structures to provide housing.  The organization provides, either 
itself, or through its advisors and consultants, access to such 
capital and the ability to deliver it in a timely fashion to a project 
to make it successful.

Reporting and Insurance

After the successful completion of the construction and rent-up 
of a project, the on-going financial reporting requirements can 
be equally as daunting.  Rimrock Housing Group provides the 
expertise for its own projects and for other organizations on a 
consultation basis to engage and coordinate annual financial 
audits and tax returns.  In addition, it can provide valuable 
assistance in securing adequate fire and liability insurance and 
in dealing with claims arising from accidents or fire damage to 
property.

Support

Rimrock Housing Group is supported in its efforts to provide quality 
affordable housing by several sources of funding.  These include 
grants from public agencies, private contributions and fees for 
services rendered to projects and their sponsors.  The organization 
assists profit and not-for-profit housing sponsors in the development 
and management of their projects and develops projects by itself.  It 
receives compensation for such services and development activities 
which it uses to pay for its staff and those rendering services to it.  
Rimrock Housing Group uses some of this money to assist others in 
the complicated housing process by making grants, donations, and 
below market loans to other organizations with similar goals and 
objectives.

Officers and Directors

Mark Miller, President

Marilyn Belter, Controller

Jolanta Wysocka, Chairman of the Board

Mark Cox, Director

Rebecca Quimby, Director


This page was last updated on: August 27, 2018