The Acquisitions, Asset Management, and Investor Relations teams at CAHEC collaborated on a list of Frequently Asked Questions that may be helpful to partners as we navigate the COVID-19 pandemic together. You can also visit our website to view a list of housing-related COVID-19 resources and webinars.

  • Will CAHEC authorize the use of Operating Reserves to cover shortfalls? Yes. In general we would expect properties to utilize their resources in roughly the following priority to cover operating deficits, subject where appropriate to lender and agency approval: (1) cash on hand, (2) deferral of management fee in the case of affiliated management companies to the extent possible, (3) operating reserves, (4) suspended replacement reserve deposits, (5) replacement reserve balances, (6) loan forbearance. USDA-RD and HUD may grant up to 3 months of loan forbearance without requiring the utilization of other sources of cash, although HUD strongly suggests the borrower consider these sources first. 

  • Will CAHEC require operating reserves be replenished during this time? The requirement to replenish operating reserves will be evaluated after the review of the 2020 audits, and subject to lender and agency requirements.

  • Will CAHEC require replacement reserve deposits during this time? CAHEC is amenable to suspending replacement reserve deposits provided there are sufficient replacement reserves to meet immediate life safety needs, and subject to lender and agency requirements.
Mission in Action
Congratulations to James Pointe Apartments in Statesville, NC, on receiving an Active Lifestyle Grant from the CAHEC Foundation to help install a youth playground.

We're sure the youth residents will enjoy using this wonderful amenity!

Meet Christopher Woodard
Five years ago, Christopher Woodard moved into Laurelwood Apartments in South Carolina. When he first moved in, he was struggling with kidney failure and was unable to do a lot of the things he wanted to do. Despite his medical setbacks, he quickly made friends with his neighbors and they rallied around him like family. “My neighbors really helped me, especially when I was going through dialysis. It was so tough, but they constantly checked in on me, brought me food, and just kept me company.” During that time, Christopher made a promise to God, himself, and his neighbors, that if he ever got better he would take care of everyone the way they had all taken care of him.

In 2017, Christopher received the news that he would be receiving a new kidney. After a successful transplant, he is now healthy and, most importantly, keeping the promise he made. “All of my neighbors are elderly and sometimes have a hard time getting around, so I make sure I do everything I can to help them when they need it.” Christopher uses his car to take his neighbors to the grocery store, helps them take out their trash, and is there to be a listening ear each day. “It’s really hard now since we have to practice social distancing, but I still go to the door and knock, check on them, and talk for a few minutes to make sure they’re OK. It’s important that we all look out for each other.”

Christopher also expressed how living in affordable housing really helped him when he was going through kidney failure. “Being on a fixed income and finding this apartment was a lifesaver for me. I was living with family before I moved but having a place to call my own gave me peace of mind. I really think it helped me heal,” Christopher explained. “This is where I’m supposed to be to grow. It has been a great experience and I’m so thankful I found a home at Laurelwood.”
Portfolio Highlights

CAHEC has added the following properties to our portfolio:

Fountain Arms Apartments  - Fountain Inn, SC; 50 units for families; Developer: WWJ

Join the CAHEC Team!
Are you looking for a new career opportunity or know someone who is? CAHEC is currently recruiting for the following positions: 

  • Asset Manager
  • Manager, Human Resources
  • Manager, Lending

For a description on each of these career opportunities, please visit our  website . Interested applicants should submit their resume, cover letter, and application to  Human Resources

Copyright 2020 CAHEC
This institution is an equal opportunity provider.