Explanation
Background: Taylor Homes is a residential revitalization project containing a mix of new single-family homes and rehabilitated rental properties. The project has developed under the direction of Columbus Urban Growth Corporation (CUGC). Once completed there will be 24 renovated/new dwelling units. 22 will be market rate single family and 2 units will be rental. Two newly constructed homes are to be sold to owner-occupants and when transferred, will close out the new home construction side of the project. Since its inception in 2003, the Taylor Homes project has been successful in reaching its stated goals of improving the housing stock and increasing home ownership along the Taylor Avenue corridor. The Housing Trust for Columbus and Franklin County provided the construction loan to Columbus Urban Growth Corporation for these two homes however, with rising construction costs, they cost $40,000 more to build. The Housing Trust has agreed to take title to these two homes if a subsidy of $20,000 each is provided. With this subsidy the two buyers now renting the homes will qualify for a mortgage and successfully complete this project.
Fiscal Impact: $40,000 is available in the 2008 Capital Improvements Budget under Fund 735 Northland and Other Acquisitions fund.
Emergency Justification: Emergency action is requested in order to close out CUGC's involvement before their operations cease and to transfer ownership as soon as possible to the interested home buyers.
Title
To authorize the Director of Development to enter into a contract with The Housing Trust for Columbus and Franklin County to subsidize the sale of two new homes on Taylor Avenue; to authorize the expenditure of $40,000 from the Northland and Other Acquisitions Fund; to waive the competitive bidding provisions of Columbus City Code; and to declare an emergency. ($40,000)
Body
WHEREAS, Taylor Homes is a residential revitalization project containing a mix of new single-family homes and rehabilitated rental properties. The project has developed under the direction of Columbus Urban Growth Corporation (CUGC); and
WHEREAS, once completed there will be 24 renovated/new dwelling units. 22 will be market rate single family and 2 units will be rental. Two newly constructed homes are to be sold to owner-occupants and when transferred, will close out the new home construction side of the project; and
WHEREAS, since its inception in 2003, the Taylor Homes project has been successful in reaching its stated goals of improving the housing stock and increasing home ownership along the Taylor Avenue corridor; and
WHEREAS, the Housing Trust for Columbus and Franklin County provided the construction loan to Columbus Urban Growth Corporation for these two homes however, with rising construction costs, they cost $40,000 more to build necessitating a subsidy of that amount to qualify the buyers; and
WHEREAS, The Housing Trust has agreed to take title to these two homes if a subsidy of $20,000 each is provided; and
WHEREAS, with this subsidy, the two buyers now renting the homes will qualify for a mortgage and successfully complete this project; and
WHEREAS, $40,000 is available in the 2008 Capital Improvements Budget under Fund 735 Northland and Other Acquisitions fund; and
WHEREAS, emergency action is requested in order to close out CUGC's involvement before their operations cease and to transfer ownership as soon as possible to the interested home buyers; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to enter into contract with The Housing Trust for Columbus and Franklin County, all for the 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. That the Director of Development is hereby authorized to enter into a contract with The Housing Trust for Columbus and Franklin County for $40,000 to subsidize the sales of two remaining new single-family homes on Taylor Avenue.
Section 2. That for the purpose stated in Section 1, the expenditure of up to $40,000 from the Development Department, Division No. 44-01, Fund No. 735 Northland and Other Acquisitions, Project No. 441737 Taylor Homes, OCA Code 441737, Object Level Three 6680 is hereby authorized and approved.
Section 3. 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 4. That the formal consultant selection process provisions of Chapter 329 of the City Code be and hereby are waived.
Section 5. That for 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 its passage and approval by the Mayor or ten days after passage if the Mayor neither approves nor vetoes the same.