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Annual Report 2020

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FINDING CONNECTION A MESSAGE FROM OUR BOARD Over the course of the year our team had to find connection in new and unique ways as we continually asked ourselves what it looks like to care for residents and our community from a distance From partnering with theatre group Handsome Little Devils to bring a socially distanced Joy Bomb to our senior residents at Creekside to organizing a drive through food bank to support community members experiencing food insecurity our teams stepped up in incredible ways In addition to coordinating resources for students like do at home science kits and summer food assistance programs Resident Services came alongside residents hit with the economic aftershocks of a global pandemic helping them apply for rental assistance connect to community resources and stay up to date on the latest health and safety guidelines from the CDC On site Property Management teams worked through various solutions to tenants ever changing employment situations and continued to find ways to engage residents through safe events like seasonal door decorating contests Our housekeeping and groundskeeping crews showed up 2020 was a year for the history books The COVID 19 pandemic forced us every day in a world where remote work was the norm to care for our residents to step back evaluate priorities and find new ways to care for our through enhanced cleaning protocols to make sure that our communities remained safe places for our residents All the while staff teams quickly adapted to Zoom residents staff and community In so many ways this year was about Skype Microsoft Teams and Go To Meeting as they ensured we stayed connected isolation and keeping distance But through it all the team at Metro West to each other and to residents without missing a beat Housing Solutions still found ways to connect In a year where home became more important than ever the team at MWHS It was a year where we learned that separated does not mean alone and that distance does not mean isolation We learned that there is value in slowing down and appreciating those in our closest circle even as we longed for brighter fuller more social days ahead It was ultimately a year that proved incredibly difficult to navigate The team at Metro West from the main offices to the invaluable staff at every property took each new challenge in stride and came out stronger and more resilient on the other side Our communities experienced A socially distanced Project Joy Bomb at the Residences at Creekside Top Left MWHS Board of Directors and Tami Fischer Executive Director DEVELOPMENT MOVES FORWARD Although COVID 19 changed so much about how we worked it did not change the work we do unprecedented struggles this year as the pandemic exacerbated the In fact 2020 saw incredible strides in our portfolio development Indy Street Flats which already dire affordable housing crisis in Lakewood Colorado and opened in December 2019 received Housing Colorado s prestigious Eagle Award for excellence nationally But MWHS rose to the challenge continuing to provide in affordable housing We partnered with Everett Court Partners to manage their rehabilitation excellent high quality beautiful affordable housing in a year where we of the historic Hospice of St John to Eiber Village a new senior community offering 49 units of spent more times in our homes than out of them affordable housing to Lakewood residents ages 62 and older Construction teams at Sage Corner continued to work safely and follow health and safety guidelines keeping the project The pandemic s looming cloud is beginning to dissipate but MWHS on track for an early 2021 opening And we received competitive 9 Low Income Housing Tax commitment to fight for affordable housing and the community members Credits allowing us to break ground on Lamar Station Crossing Phase II This will complete the we serve never will Lamar Station Crossing Campus by adding 65 additional units in a second building and expanding outdoor community space to include gardens a picnic area and more Lamar As I look back I do so with gratitude As I look forward I do so hopefully KAREN KELLEN BOARD CHAIR stepped up to keep home safe Station Crossing is scheduled to open in late 2021 and MWHS is looking forward to celebrating its Grand Opening in person

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BY THE NUMBERS OUR PARTNERS FINANCIALS ENDING DECEMBER 31 2020 40West Arts District ASSETS CONNECTION COMMUNITY The Action Center Alameda Gateway Association ANB Bank Cash Investments 10 719 725 Belmar Community Connection Receivables 2 917 134 Boston Financial Prepaid Expenses 282 424 City of Denver Restricted Cash City of Lakewood 2 920 345 Notes Interest Receivable Citywide Banks 68 307 932 Equity in Partnerships Colorado Division of Housing 4 684 686 Capital Assets 49 842 724 Total Assets 139 674 970 LIABILITIES Payables 65 595 Accruals 987 075 Escrow Compensated Absences 402 477 299 833 Tenant Security Deposits Bonds Notes Mortgage Payable 56 186 052 Total Liabilities 57 941 032 81 733 938 Total Net Position OPERATING REVENUE Colorado Garden Foundation Colorado Housing Assistance Corp Colorado Housing Finance Authority Colorado NAHRO A COVID 19 safe drive through food bank Cooking Matters CSU Extension Jefferson County Cooperative Cycling Without Age Extension Denver Bar Association Jefferson County Public Library Denver Urban Gardens KeyBank Dominican Home Health Lakewood West Colfax BID Agency Metro Volunteer Lawyers Easterseals Colorado Mile High United Way Eaton Senior Communities NAHRO Operating Income 8 838 000 Energy Outreach Colorado Red Rocks Community College HUD Contributions Grants 17 793 785 Enterprise Community Partners Redstone Equity Partners Investment Income 2 643 542 Federal Home Loan Bank Regional Transportation District FirstBank of Colorado Rocky Mountain College of Art Food Bank of the Rockies Design Gold Crown Foundation U S Bank Housing Colorado U S Environmental Protection Agency Impact Development Fund U S Dept of Housing Urban Jeffco Eats Development Jeffco Mental Health Visiting Nurses Association Jeffco Public Schools Wells Fargo Bank Jefferson County Xcel Energy 29 275 327 Total Revenue OPERATING EXPENSES Housing Assistance Payments General Administrative Maintenance Operation Other Operating Expenses MISC Total Operating Expenses Gain on Sale of Capital Assets Mortgage Interest Expense 2 524 152 2 780 071 Beginning Ending 13 343 663 6 705 685 2 433 383 791 285 23 274 016 NET POSITION www mwhsolutions org 75 988 546 81 733 938 303 987 7580 C A R E 2020 ANNUAL REPORT

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