Explanation
BACKGROUND: The Ohio Housing Finance Agency (OHFA) operates the Non-Housing Credit Housing Development Assistance Program (HDAP). This program is designed to provide financing for eligible affordable housing projects to expand, preserve, and/or improve the supply of decent, safe, affordable housing. This assistance provides the private housing development community the incentives to develop affordable housing by offsetting building acquisition, new construction, or substantial rehabilitation costs.
HDAP is a competitive review process based on the applicant meeting selected criteria, such as local government support, public benefit, location, and organizational capacity. A resolution of support from Columbus City Council would provide the applicant with necessary community support to ensure the project's viability to the Ohio Housing Finance Agency.
Emergency action is requested for this resolution in order to comply with the time line for the OHFA applications.
FISCAL IMPACT: No funding is required for this legislation.
Title
To support the application of Franklinton Development Association (Central West Revitalization Project) for Non-Housing Credit Housing Development Assistance Program; and to declare an emergency.
Body
WHEREAS, The Ohio Housing Finance Agency (OHFA) is requesting applications for the Non-Housing Credit Housing Development Assistance Program (HDAP) from developers to create affordable housing in areas of high need and for special populations having the highest need; and
WHEREAS, the process plan requires evidence of local government support in the form of a City Council resolution; and
WHEREAS, Franklinton Development Association (Central West Revitalization Project) is proposing the construction of three new housing units and the rehabilitation of two housing units in the City of Columbus; and
WHEREAS, the project will contain a total of five (5) units; and
WHEREAS, the project serves a targeted population category of low-income homebuyers; and
WHEREAS, the project conforms with the goals of the City of Columbus Consolidated Plan in that it increases the supply of decent, safe, affordable housing; and
WHEREAS, Franklinton Development Association (Central West Revitalization Project) has presented the proposal to the appropriate area commissions and/or civic associations for review; and
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus in that it is immediately necessary to adopt the resolution below, all for the immediate preservation of the public health, property, safety and welfare; NOW, THEREFORE,
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the City of Columbus supports the application by Franklinton Development Association (Central West Revitalization Project) for Housing Development Assistance Program for the construction of low-income housing.
Section 2. That for reasons stated in the preamble hereto, which is hereby made a part hereof, this resolution is declared to be an emergency measure and shall take effect and be in force from and after its adoption and approval by the Mayor, or ten days after adoption if the Mayor neither approves nor vetoes the same.