In response to QHWRA, RIHA prepared an Asset Management Plan in 2003. The purpose of the Plan was to review the present and future use and value of each of its properties. One of the most important goals of the Plan was to provide current and future residents with more housing options. As a result, RIHA committed itself to building new communities based on transition and hope. In doing so, RIHA began to move from the provider of public housing to an organization focused on providing affordable housing to a broad-based market. The Plan also provided the frame work for its implementation over the course of the next ten to twenty years. An evaluation of the Plan at the five-to-ten year mark was built into the original implementation strategy. This allowed the Agency to update its implementation strategy based on current economic conditions, market need and available funding and funding sources.

Between the introduction of the Plan in 2003 and the end of 2008, RIHA had completed well over 50% of the initiatives detailed in the Plan. The Agency also invested considerable time and energy preparing itself financially, organizationally, and structurally to complete the remaining Asset Management Plan recommendations. In addition, the Agency has proactively addressed the challenges presented by significantly increased federal Department of Housing and Urban Development (HUD) regulatory controls and seven consecutive years (FY 2002 to FY 2008) of dwindling Operating Subsidies and diminishing Capital Funds.

Because of its Asset Management Plan and its proactive approach to meeting and dealing with HUD challenges and other economic, financial, and funding related challenges, RIHA is poised to proactively respond to changes in the Administration and to development funding should it become available through state or federal stimulus or an incentive programs.

The Asset Management Plan resulted in the following decisions:

	Keep and upgrade Spencer Towers
	Keep and maintain Sunset Heights
	Maintain and monitor both Lincoln Homes and Manor Homes
	Demolish and replace Valley Homes
	Create a not-for-profit corporation to become an integral partner in the provision of quality housing to a board-based market
	Dispose of the six single-family scattered site homes
	Acquire vacant lots or existing properties and develop new in-fill housing opportunities
	Implement a Section 8 Housing Choice Voucher (HCV) Homeownership program allowing participants to use their vouchers to help meet first-time homeownership expenses
	Develop a Relocation Plan in accordance with the Uniform Relocation Act (URA)
	Develop supportive housing for special populations such as elderly, non-elderly persons with disabilities and other special needs populations. Projects could include independent living developments, condominium units and small group homes with supportive services
	Redevelopment of the Voss Brothers Warehouse in two phases
	-  Phase I: RIHA administrative offices and retail spaces -  Phase II: 35 mixed-income loft apartments

2003 Asset Management Plan (pdf)

Best Practices & Asset Management
The hallmark of a successful organization is the use of benchmarks to establish performance targets as part of a continuous improvement process. Leading-edge organizations use performance measurement to gain insight into and make judgments about the effectiveness and efficiency of their programs, processes and people. Best-in-class organizations decide what indicators they will use to measure their progress in meeting strategic goals and objectives, gather and analyze performance data, use that data to drive improvements within their organization and successfully translate strategy into action.

The 2003 Asset Management Plan has been the benchmark by which RIHA has measured its effectiveness within the City of Rock Island and the surrounding community over the past five years. It has been the springboard allowing the organization to clarify its vision, mission, objectives and annual program goals. By evaluating the long-term benefits of each of its properties, RIHA positioned itself to make the changes required to provide more housing options and more opportunities for affordable housing to a broad-based market.

2003 Asset Management Plan Results
RIHA has used the Asset Management Plan as the framework linking its Strategic Plan and Guiding Principles allowing the Agency to achieve its goals. The implementation of the Plan has allowed the Agency to achieve each of its initiatives while meeting the needs of its customers, stakeholders and employees. Since its introduction, the Asset Management Plan has resulted in the following:

	Disposal of six single-family scattered site homes
	Phase I Redevelopment of the Voss Brothers Warehouse into RIHA administrative offices and retail spaces

	Development of a Relocation Plan in accordance with the Uniform Relocation Act (URA)
	Creation of a not-for-profit corporation known as Community Housing Solutions (CHS) to become an integral RIHA partner in the provision of quality housing to a board-based market

	Relocation of 53 displaced Valley Homes households a full five-months ahead of schedule
	Demolition of Valley Homes, an obsolete public housing property
	Purchase of the Hickman Center as the RIHA maintenance warehouse

	Phase I in-fill homes: Development of six affordable single-family, for-sale, homes in four Rock Island Neighborhoods
	Sale of 4 Phase I in-fill homes
	Implementation of the Section 8 Housing Choice Voucher (HCV) Homeownership program allowing participants to use their vouchers to help meet first-time homeownership expenses
	Implementation of the Homeownership Incentive Program per HUD regulations
	Demolition of the Angel Salsa building for the construction of Douglas Park Place
	Phase II Redevelopment of the Voss Brothers Warehouse including 35 mixed-income loft apartments
	As CHS, renovated the Murphy House, a historic landmark with four market-rate condominiums; all units sold

	Keep and maintain Sunset Heights: Investment of $633,029 for capital improvements
	Phase I in-fill homes: Development of the 7th affordable, single-family, for-sale home
	Sale of the 3 remaining Phase I in-fill homes
	Phase II in-fill homes: Acquisition of 10 vacant lots for the development of new in-fill housing opportunities
	As CHS, constructed Douglas Park Place, an eight-unit, special needs, mixed-income rental development designed to serve women recovering from substance abuse

	Implemented Project-Based Asset Management
	Established the nation's first public housing operating fund financing program
	Prepared and submitted a viable funding application for the development of the Creekwood Park community
	Identified an urgent need to demolish and replace Lincoln and Manor Homes
	CHS received approval for the development of the 70-unit Special Needs Complex.
	Updated the Asset Management Implementation Plan