DEPARTMENT: Department of Planning & Community Development
DEPARTMENT HEAD: Bridgett White, Director
COUNCIL DISTRICTS IMPACTED: Council Districts 2, 5, and 6
SUBJECT:
A Public Hearing on the Substantial Amendment to the FY 2016 Annual Action Plan (Reprogramming) and an Ordinance approving HOME Investment Partnerships Program Funding Recommendations for FY 2017.
SUMMARY:
A Public Hearing is required by the U.S. Department of Housing and Urban Development (HUD) for a Substantial Amendment to the FY 2016 Annual Action Plan to reprogram an amount not to exceed $484,400 in HOME Investment Partnerships Program (HOME) funding from Franklin Development for Artisan at Judson Park, a Multi-Family Rental Housing Development project, to Lenwood Heights Subdivision-Phase II, a Community Housing Development Organization (CHDO) Single-Family New Construction project.
An Ordinance approving the allocation of up to $1,250,000 in FY 2017 HOME Investment Partnerships Program (HOME) funds for the development of Lord Road Apartments, up to $174,400 in FY 2017 HOME CHDO funds for the Our Casas Resident Council Scattered Sites project; and up to $1,045,600 in FY 2017 HOME CHDO funds for the development of Lenwood Heights Subdivision-Phase II project; and the reprogramming of up to $484,400 in FY 2016 HOME funds for the development of Lenwood Heights Subdivision-Phase II project.
BACKGROUND INFORMATION:
HUD requires a 30-day public comment period, which was initiated on Monday, August 29, 2016, and a city-wide Public Hearing in order to complete a Substantial Amendment to the City's FY 2016 Annual Action Plan. On January 16, 2016, City Council approved $484,400 in HOME gap financing to Franklin Development for Artisan at Judson Park, a 126-unit multi-family rental housing tax credit development restricted to households with incomes at or below 60% of area median income. During pre-contract discussions, Franklin Development indicated that they would be unable to accep...
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