Explanation
This legislation authorizes the amendment of Ordinance No. 3087-2025, passed by Columbus City Council on November 24, 2025, which authorized the Director of the Department of Development to enter into a grant agreement in the amount up to $2,500,000.00 with Columbus Housing Partnership Inc. for an affordable housing development. An amendment is required to update the amount of the grant to $3,500,000.00 and to allow expenses incurred prior to the creation of the purchase order, beginning October 7, 2025.
Easton Place Phase III will create 50 apartments for families and individuals, with a mix of one-, two- and three-bedroom apartments. The project consists of one four-story, new-construction building. The third phase’s completion will finish the shared vision of the City of Columbus, Columbus Housing Partnership, Inc. (dba Homeport) and The Georgetown Company to develop 200 affordable rental apartments at Easton Town Center, which has one of Central Ohio’s largest concentrations of jobs in the office, retail and hospitality sectors. The project will strengthen the nexus between affordable housing and jobs for employees at Easton Town Center.
Easton Place’s first phase finished construction in January 2024 and its second phase finished construction in May 2025 at adjacent sites. The third phase will share the following amenities with the development’s first two phases: access to public transit, access to jobs, access to groceries, community room, fitness center, on-site laundry, on-site management, package concierge, playground, and security cameras.
Easton Place Phase III will be certified under the LEED sustainability program and will include six fully accessible apartments, greater than the amount required by Section 504. The units developed in Phase III will be restricted to households whose annual income is at or 60% of Area Median Income (AMI).
The project will be financed by equity from 4% federal Low Income Housing Tax Credits (LIHTC) and state LIHTC, a permanent loan, and deferred developer fee, in addition to the requested commitment of bond funds from the City of Columbus. The project will also be financed by a tax-exempt bond, in order to meet the requirements for 4% federal LIHTC, and a construction loan.
Easton Place Homes III, LLC is the ownership entity of the project with Columbus Housing Partnership Inc. being the majority owner of the managing member of Easton Place Homes III, LLC. The Director of the Department of Development is hereby authorized to enter into a grant agreement with Columbus Housing Partnership Inc., who will act as a pass-through entity to loan the funds to Easton Place Homes III, LLC.
Columbus Housing Partnership Inc. will enter into a grant agreement with the city for the bond funds as a pass-through entity. Easton Place Homes III, LLC is the ownership entity of the project with Columbus Housing Partnership Inc. being the majority owner of the managing member.
Emergency action is requested in order to maintain the project schedule and to meet deadlines for this project. Without emergency action, new affordable housing would be further delayed from a low-income community in urgent need of it.
Contract Compliance: the vendor number is 004842 and expires 03/13/2026.
Fiscal Impact: Additional funding in the amount of $1,000,000.00 is available in 2025 Capital Improvement Budget, Affordable Housing Bond fund. An amendment to the 2025 Capital Budget is required to establish sufficient budget authority for the project.
Title
To amend Ordinance No. 3087-2025, passed by Columbus City Council on November 24, 2025, to revise the amount of the authorized grant to $3,500,000.00; to amend the 2025 Capital Improvement Budget; to authorize the City Auditor to transfer funds within the Affordable Housing Bond Fund; to authorize the additional expenditure of up to $1,000,000.00 from the Affordable Housing Bond Fund; to allow expenses incurred prior to the creation of the purchase order; and declare an emergency. ($1,000,000.00)
Body
WHEREAS, the need exists to amend Ordinance No. 3087-2025, passed by Columbus City Council on November 24, 2025; and
WHEREAS, the ordinance authorized the Director of the Department of Development to enter into a grant agreement in the amount up to $2,500,000.00 with Columbus Housing Partnership Inc. for an affordable housing development; and
WHEREAS, an amendment is required to update the amount of the grant to $3,500,000.00 and to allow expenses incurred prior to the creation of the purchase order; and
WHEREAS, an amendment to the 2025 Capital Improvement Budget is needed to establish sufficient authority for this project; and
WHEREAS, to authorize the transfer and expenditure within the Affordable Housing Bond Fund in an amount up to $1,000,000.00; and
WHEREAS, an emergency exists in the daily operation of the Department of Development to amend Ordinance No. 3087-2025, passed by Columbus City Council on November 24, 2025, to maintain the project schedule, all for the immediate preservation of the public health, peace, property, safety, and welfare; and; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. Section 1 of Ordinance No. 3087-2025 is hereby amended to update the amount of the grant with Columbus Housing Partnership Inc. to $3,500,000.00 and to allow expenses incurred prior to the creation of the purchase order, beginning October 7, 2025, as follows with additions underlined and deletions struck through:
SECTION 1. That the Director of the Department of Development be and is hereby authorized to enter into a grant agreement with Columbus Housing Partnership Inc. for an affordable housing development in an amount up to $2,500,000.00 $3,500,000.00 and to allow expenses incurred prior to the creation of the purchase order, beginning October 7, 2025.
SECTION 2. That the existing Section 1. of Ordinance No 3087-2025 is hereby repealed.
SECTION 3. Section 3 of Ordinance No. 3087-2025 is hereby amended to revise the amount of the grant with Columbus Housing Partnership Inc. as follows with additions underlined and deletions struck through:
SECTION 3. That the 2025 Capital Improvements Budget be amended as follows to establish sufficient authority for this project:
Fund / Project / Project Name / C.I.B. / Change / C.I.B. as Amended
7779 / P782050-100021 / Easton Phase II (Voted Carryover) / $2,500,000.00/ ($2,500,000.00) / $0.00
7779 / P782050-100018 / Scarborough (Voted Carryover) / $1,340,000.00/ ($1,000,000.00)/ $340,000.00
7779 / P782050-100024 / Easton Place Phase III (Voted Carryover) /$0.00/ $2,500,000.00 $3,500,000.00/ $2,500,000.00 $3,500,000.00
SECTION 4. That the existing Section 3. of Ordinance No 3087-2025 is hereby repealed.
SECTION 5. That the Background of Ordinance No. 3087-2025 is hereby amended to revise the amount of the grant with Columbus Housing Partnership Inc. to $3,500,000.00 and to allow expenses incurred prior to the creation of the purchase order as follows with additions underlined and deletions struck through:
BACKGROUND
This ordinance authorizes the Director of the Department of Development to enter into a grant agreement with Columbus Housing Partnership Inc. for an affordable housing development in an amount up to $2,500,000.00 $3,500,000.00 and to allow expenses incurred prior to the creation of the purchase order, beginning October 7, 2025. Columbus Housing Partnership Inc. will enter into a grant agreement with the city for the bond funds as a pass-through entity. Easton Place Homes III, LLC is the ownership entity of the project with Columbus Housing Partnership Inc. being the majority owner of the managing member.
Easton Place Phase III will create 50 apartments for families and individuals, with a mix of one-, two- and three-bedroom apartments. The project consists of one four-story, new-construction building. The third phase’s completion will finish the shared vision of the City of Columbus, Columbus Housing Partnership, Inc. (dba Homeport) and The Georgetown Company to develop 200 affordable rental apartments at Easton Town Center, which has one of Central Ohio’s largest concentrations of jobs in the office, retail and hospitality sectors. The project will strengthen the nexus between affordable housing and jobs for employees at Easton Town Center.
Easton Place’s first phase finished construction in January 2024 and its second phase finished construction in May 2025 at adjacent sites. The third phase will share the following amenities with the development’s first two phases: access to public transit, access to jobs, access to groceries, community room, fitness center, on-site laundry, on-site management, package concierge, playground, and security cameras.
Easton Place Phase III will be certified under the LEED sustainability program and will include six fully accessible apartments, greater than the amount required by Section 504. The units developed in Phase III will be restricted to households whose annual income is at or 60% of Area Median Income (AMI).
The project will be financed by equity from 4% federal Low Income Housing Tax Credits (LIHTC) and state LIHTC, a permanent loan, and deferred developer fee, in addition to the requested commitment of bond funds from the City of Columbus. The project will also be financed by a tax-exempt bond, in order to meet the requirements for 4% federal LIHTC, and a construction loan.
Easton Place Homes III, LLC is the ownership entity of the project with Columbus Housing Partnership Inc. being the majority owner of the managing member of Easton Place Homes III, LLC. The Director of the Department of Development is hereby authorized to enter into a grant agreement with Columbus Housing Partnership Inc., who will act as a pass-through entity to loan the funds to Easton Place Homes III, LLC.
Emergency action is requested in order to maintain the project schedule and to meet deadlines for this project. Without emergency action, new affordable housing would be further delayed from a low-income community in urgent need of it.
FISCAL IMPACT: Funding in the amount of $2,500,000.00 $3,500,000.00 is available in 2025 Capital Improvement Budget, Affordable Housing Bond fund. An amendment to the 2025 Capital Budget is required to establish sufficient budget authority for the project.
CONTRACT COMPLIANCE: the vendor number is 004842 and expires 03/13/2026.
SECTION 6. That the existing Background of Ordinance No 3087-2025 is hereby repealed.
SECTION 7. That the Title of Ordinance No. 3087-2025 is hereby amended to revise the amount of the grant with Columbus Housing Partnership Inc. to $3,500,000.00 and to allow expenses incurred prior to the creation of the purchase order as follows with additions underlined and deletions struck through:
To amend the 2025 Capital Improvement Budget; to authorize the City Auditor to transfer funds within the Affordable Housing Bond Fund; to authorize the Director of Development to enter into a grant agreement with Columbus Housing Partnership Inc. for an affordable housing development in an amount up to $2,500,000.00 $3,500,000.00; to authorize the expenditure of up to $2,500,000.00 $3,500,000.00 from the Affordable Housing Bond Fund; to allow expenses incurred prior to the creation of the purchase order; and to declare an emergency. ($2,500,000.00 $3,500,000.00)
SECTION 8. That the existing Title of Ordinance No 3087-2025 is hereby repealed.
SECTION 9. That the first Whereas statement of Ordinance No. 3087-2025 is hereby amended to revise the amount of the grant with Columbus Housing Partnership Inc. with additions underlined and deletions struck through:
WHEREAS, the Director of Development seeks to enter into a grant agreement with Columbus Housing Partnership Inc. for an affordable housing development in an amount up to $2,500,000.00 $3,500,000.00, and to allow expenses incurred prior to the creation of the purchase order; and
SECTION 10. That the existing first Whereas statement of Ordinance No 3087-2025 is hereby repealed.
SECTION 11. That the ninth Whereas statement of Ordinance No. 3087-2025 is hereby amended to revise the amount of the grant with Columbus Housing Partnership Inc. with additions underlined and deletions struck through:
WHEREAS, to authorize the transfer and expenditure within the Affordable Housing Bond Fund in an amount up to $2,500,000.00 $3,500,000.00; and
SECTION 12. That the existing ninth Whereas statement of Ordinance No 3087-2025 is hereby repealed.
SECTION 13. That this grant agreement is awarded in accordance with the relevant provisions of City Code related to awarding grant agreements.
SECTION 14. That the funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated, and the City Auditor shall establish such accounting codes as necessary.
SECTION 15. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modifications associated with this legislation.
SECTION 16. That the City Auditor is hereby authorized to transfer the unencumbered balance in a project account to the unallocated balance account within the same fund upon receipt of certification by the Director of the Department administering said project that the project has been completed and the monies are no longer required for said project.
SECTION 17. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared to be an emergency measure which shall take effect and be in force from and after its passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes it.