Explanation
This legislation authorizes the Director of the Department of Development to modify an agreement with Erie Ohio Capital CDFI Fund LLC to allow for expenses incurred prior to the creation of the purchase order.
Original $1,900,000.00 Ord. 3279-2022 (Amend. by Ord. 0251-2023) PO363469
Mod 1 $ 0.00
Total $1,900,000.00
The original ordinance, No. 2049-2022, passed on July 25, 2022, allowed for the establishment of a Housing Development Agreement to utilize Affordable Housing bond funds from the City’s 2022 Capital Budget in the amount of $1,400,000.00. The Original Ordinance was amended by Ordinance No. 3279-2022, passed December 5, 2022, to allow for the establishment of $1,900,000.00 from the City’s 2022 Capital Budget, through a bond agreement, with a Housing Development Agreement no longer needed. A contract was executed on December 9, 2022. An amendment Ordinance No. 3279-2022 was authorized by Ordinance No. 0251-2023 on February 6, 2023. However, because a contract with Erie Ohio Capital CDFI Fund, LLC had already been executed, an ordinance requesting approval of a contract modification should have been submitted. This legislation is to request a contract modification of the agreement to allow for costs incurred prior to the PO.
The Columbus Renaissance Housing development is intended to be structured as a partnership organized strategically to pair a local place-based neighborhood nonprofit entities, Community Development for All People (“CD4AP”) with Woda Cooper Companies, Inc. ("Woda"), a highly experienced nationwide developer, who will serve as general contractor and property manager.
Columbus Renaissance Housing is located at 33 West Morrill Avenue in Merion Village. The project is a single-phase development to occur on multi parcel former industrial manufacturing site that is bounded by existing housing on two adjacent sides, a church, and the Salvation Army, and is just a short distance outside of the central dow...
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