City of Columbus - File #: 0790-2011

• File #: 0790-2011
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 5/16/2011
• In control: Health, Housing & Human Services Committee
• On agenda: 6/6/2011
• Final action: 6/8/2011
• Title: To authorize and direct the Development Director, or his designee, to acquire properties for the NSP3 Program and to execute any and all documents necessary for conveyance of title; to authorize the expenditure of $3,282,460.00 from the General Government Grant Fund to provide funding for approved 2011 programs; and to declare an emergency. ($3,282,460.00)

Date	Ver.	Action By	Action	Result
6/8/2011	1	CITY CLERK	Attest
6/7/2011	1	MAYOR	Signed
6/6/2011	1	Columbus City Council	Approved	Pass
6/6/2011	1	COUNCIL PRESIDENT	Signed
5/25/2011	1	CITY ATTORNEY	Reviewed and Approved
5/25/2011	1	Dev Drafter	Sent to Clerk's Office for Council
5/23/2011	1	Dev Drafter	Sent for Approval
5/23/2011	1	Auditor Reviewer	Contingent
5/23/2011	1	CITY AUDITOR	Reviewed and Approved
5/23/2011	1	Dev Drafter	Sent for Approval
5/19/2011	1	Finance Reviewer	Reviewed and Approved
5/19/2011	1	FINANCE DIRECTOR	Reviewed and Approved
5/18/2011	1	Finance Reviewer	Reviewed and Approved
5/18/2011	1	Finance Reviewer	Reviewed and Approved
5/17/2011	1	Dev Drafter	Sent for Approval
5/17/2011	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
5/17/2011	1	Dev Drafter	Sent for Approval

Explanation

Background: In response to the housing mortgage crisis, the city of Columbus has been awarded $4,843,460 of Neighborhood Stabilization Program 3 (NSP3) grant funds from the U.S. Department of Housing and Urban Development (HUD). The funds will provide for the purchase of foreclosed or abandoned properties, and the redevelopment, rehabilitation or demolition of these properties in order to stabilize neighborhoods and stem the decline of house values of neighboring homes.

This legislation will implement NSP3 activities including the purchase of foreclosed or abandoned properties, and the redevelopment, rehabilitation or demolition of foreclosed or abandoned properties in order to stabilize neighborhoods and stem the decline of house values of neighboring homes. The NSP3 Redevelopment Fund and the NSP3 50% AMI Fund will assist for-profit and non-profit developers with grants and no or low interest loans for projects designed to reduce the number of vacant and abandoned properties, and to increase and preserve the local supply of decent, safe, sanitary, and affordable housing for low, moderate and middle income families. The NSP 50% AMI Fund is established in accordance with HUD regulations for the NSP program which state that 25% of the City's allocation must be designated to benefit households at or below 50% of the Columbus' area median income (AMI).

Redevelopment under this legislation will follow the City's NSP3 Application adopted by ordinance 0162-2011 (including the AWARE green construction standards), adhere to requirements established by HUD under the Program, and be guided by the Neighborhood Redevelopment/Housing Market Study completed by VWB Research on behalf the City under the NSP1 grant.

Emergency action is requested to begin the redevelopment of properties as soon as possible and to meet deadlines established by HUD for the NSP3 Program.

Fiscal Impact: This legislation authorizes the expenditure of $3,282,460 from the $4,...