Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to enter into an agreement with The Commons at Livingston Housing Limited Partnership. The funds provided by the agreement will be used to undertake the acquisition and development of the Commons at Livingston permanent supportive housing project. The Commons at Livingston is being developed as part of the Rebuilding Lives initiative to provide permanent supportive housing for homeless persons and those at risk of being homeless. The Commons at Livingston is the first project under the City of Columbus' new five year commitment to provide $6 million in funding over a five year period for the development of additional units under this program. It is anticipated that $3 million of the $6 million commitment will be provided from bond funds with the remaining funds to come from the City's allocation of HOME Investment Partnership Funds and/or Neighborhood Stabilization Funds. This legislation authorizes the expenditure of $150,000 of bond funds to The Commons at Livingston Housing Limited Partnership for the acquisition and development of the Commons at Livingston.
Emergency action is necessary to allow for The Commons at Livingston Housing Limited Partnership to immediately begin the development of the project.
FISCAL IMPACT: Funding is from the Rebuilding Lives Fund - 2010 Capital Improvements Budget.
Title
To authorize the Director of the Department of Development to enter into an agreement with The Commons at Livingston Housing Limited Partnership; to authorize the expenditure of $150,000.00 from the 2010 Capital Improvements Fund; and to declare an emergency. ($150,000.00)
Body
WHEREAS, the Department of Development, Housing Division desires to administer a Rebuilding Lives Fund from city bond proceeds within 2010 Capital Improvements Budget; and
WHEREAS, the Department of Development desires to enter into an agreement with The Com...
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