Explanation
This ordinance authorizes the Director of the Department of Development to enter into a grant agreement with Erie Ohio Capital CDFI Fund LLC for development of 37 units in an amount up to $2,500,000.00. Erie Ohio Capital CDFI Fund LLC will enter into a grant agreement with the city for the bond funds as a pass-through entity. Juniper Crossing II Limited Partnership is the ownership entity of the project with Erie Ohio Capital CDFI Fund LLC being a loaning member. Approval is also requested for reimbursement of architect, attorney, engineering, and developer fees incurred prior to execution of the purchase order, starting January 1, 2023.
Woda Cooper Companies, Inc. (“WCCI”) is proposing Juniper Crossing II. Juniper Crossing II is the second phase of an 81-unit senior 55+ affordable housing development consisting of two phases located at 60 Obetz Road in the Far South area in Columbus, Ohio. The first phase, consisting of 44 units, received an award of 9% tax credits from OHFA in the 2023 9% funding round and was the only deal to be funded in the City of Columbus.
The second phase is utilizing a condominium structure to add an additional 37 units to the three story elevator building. The Council Variance was approved for a total of 81 senior units so this allows the development team to leverage resources efficiently to meet the growing affordable housing demand in the City of Columbus.
Juniper Crossing II will target households with incomes at or below 60% area median gross income. Juniper Crossing II will include twenty (20) one-bedroom units and seventeen (17) two bedroom units for a total of 37 units. The target population for Juniper Crossing II will be seniors. Juniper Crossing II will include the construction of a three-story elevator building with various amenities including: on-site management office, community room with kitchenette, and more. The project is in close proximity to various amenities including Scioto Southland Community Center, ALDI, Kroger, Central Ohio Area Agency on Aging, and a COTA bus stop is located in front of the development on Obetz Road and Southpoint Boulevard.
The Department of Development was authorized to enter into a Housing Development Agreement for $2,500,000.00 pursuant to Ord 1145-2024 passed on May 6, 2024. This legislation will confirm the funding for the project.
Juniper Crossing II Limited Partnership is the ownership entity of the project with Erie Ohio Capital CDFI Fund LLC being a loaning member. The Director of the Department of Development is hereby authorized to enter into a grant agreement with Erie Ohio Capital CDFI Fund LLC. City Council hereby authorizes Erie Ohio Capital CDFI Fund LLC to assign its rights, duties, and obligations under the grant agreement to Juniper Crossing II Limited Partnership, except that Erie Ohio Capital CDFI Fund LLC shall remain responsible for the indemnification, reporting, and compliance obligations of the grant agreement as set forth in the copy of the agreement on file with the Department of Development.
Emergency action is requested in order to maintain the project schedule and to fulfill financial needs to mitigate additional fees from lenders. 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 is available in 2024 Capital Improvement Budget, Affordable Housing Bond fund. An amendment to the 2024 Capital Budget is required to establish sufficient budget authority for the project and a transfer of cash is also required.
CONTRACT COMPLIANCE: the vendor number is 0033062 and expires 06/10/2026.
Title
To amend the 2024 Capital Improvement Budget; to authorize the City Auditor to transfer funds within the Affordable Housing Bond Fund; to authorize the Director of the Department of Development to enter into a grant agreement with Erie Ohio Capital CDFI Fund LLC in an amount up to $2,500,000.00 in support of the development of 37 units of the Juniper Crossing II project; to authorize the expenditure of up to $2,500,000.00 from the Affordable Housing Bond Fund; to authorize the reimbursement of expenditures incurred prior to the establishment of a purchase order; and to declare an emergency. ($2,500,000.00)
Body
WHEREAS, the Director of Development seeks to enter into a grant agreement with Erie Ohio Capital CDFI Fund LLC in support of the development of 37 units of the Juniper Crossing II project; and
WHEREAS, Juniper Crossing II will target households with incomes at or below 60% area median gross income; and
WHEREAS, Juniper Crossing II will include twenty (20) one-bedroom units and seventeen (17) two bedroom units for a total of 37 units for seniors; and
WHEREAS, the project is in close proximity to various amenities including Scioto Southland Community Center, ALDI, Kroger, Central Ohio Area Agency on Aging, and a COTA bus stop located in front of the development on Obetz Road and Southpoint Boulevard; and
WHEREAS, the 2024 Capital Improvement Budget needs to be amended to establish sufficient authority for this project; and
WHEREAS, the transfer and expenditure within Fund 7779 is authorized; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development to pass this ordinance as emergency in order to maintain the project schedule, for the immediate preservation of the public health, peace, property, and safety; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Director of the Department of Development be and is hereby authorized to enter into a grant agreement with Erie Ohio Capital CDFI Fund LLC in an amount up to $2,500,000.00 in support of the development of 37 units of the Juniper Crossing II project and to authorize the reimbursement of architect, attorney, engineering, and developer fee expenditures incurred prior to the establishment of a purchase order, beginning January 1, 2023.
SECTION 2. The Director of the Department of Development is hereby authorized to enter into a grant agreement with Erie Ohio Capital CDFI Fund LLC. City Council hereby authorizes Erie Ohio Capital CDFI Fund LLC to assign its rights, duties, and obligations under the grant agreement to Juniper Crossing II Limited Partnership, except that Erie Ohio Capital CDFI Fund LLC shall remain responsible for the indemnification, reporting, and compliance obligations of the grant agreement as set forth in the copy of the agreement on file with the Department of Development.
SECTION 3. That the 2024 Capital Improvements Budget be amended as follows to establish sufficient authority for this project:
Fund / Project / Project Name (Funding Source) / C.I.B. / Change / C.I.B. as Amended
7779 / P782012-100000 / Affordable Housing Funds (Voted Carryover) / $17,468,598.00 / ($2,500,000.00) / $14,968,598.00
7779 / P782050-100009 / Juniper Crossing II (Voted Carryover) / $0 / $2,500,000.00 / $2,500,000.00
SECTION 4. That the transfer of $2,500,000.00 or so much thereof as may be needed, is hereby authorized within Fund 7779 (Affordable Housing Bond fund), Dept-Div 44-10 (Housing) per the account codes in the attachment to this ordinance.
SECTION 5. That for the purpose as stated in Section 1, the expenditure of $2,500,000.00, or so much thereof as may be necessary, is hereby authorized in fund 7779 (Affordable Housing Bond fund), Project P782050-100009, Dept. 44-10 (Housing), in Object Class 06 (Capital Outlay) per the accounting codes in the attachment to this ordinance.
SECTION 6. 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 7. 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 ordinance.
SECTION 8. 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 9. 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 and shall take effect and be in force from and after passage and approval by the Mayor or ten days after passage if the Mayor neither approves nor vetoes the same.