Explanation
BACKGROUND: This legislation authorizes the modification of the NSP2 Consortium Agreement with Columbus Housing Partnership to allow for the assignment of up to $1,500,000 in NSP 2 funds allocated to Columbus Housing Partnership to Duxberry Landing Homes LLC. The City of Columbus is the Lead Applicant of the NSP2 Consortium which is an association of seven organizations and government entities formed for the purpose of applying for and implementing NSP2 funds. Columbus Housing Partnership is a member of the NSP2 Consortium. Prior ordinance 0156-2010 authorized the Director of the Department of Development to enter into consortium funding agreements with members of the NSP2 Consortium. The NSP2 funds will provide for the acquisition, rehabilitation, redevelopment or demolition of foreclosed, abandoned and vacant properties in order to stabilize neighborhoods and stem the decline of housing values. The funds assigned to Duxberry Landing Homes LLC will be used to acquire, rehabilitate, redevelop or demolish homes in the Linden area. Columbus Housing Partnership will control the operations of Duxberry Landing Homes LLC.
Emergency action is requested to avoid interruptions in program services.
FISCAL IMPACT: No additional funds are required for this ordinance. $1,500,000 will be permitted to be assigned by Columbus Housing Partnership to Duxberry Landing Homes LLC.
Title
To authorize the Director of the Department of Development to modify the NSP2 Consortium Agreement with Columbus Housing Partnership; to authorize the assignment of up to $1,500,000 in NSP 2 funds allocated to Columbus Housing Partnership to Duxberry Landing Homes LLC; and to declare an emergency.
Body
Whereas, this legislation authorizes Director of the Department of Development to modify a NSP2 Consortium Agreement with Columbus Housing Partnership; and authorizes the assignment of up to $1,500,000 from the Consortium Agreement by Columbus Housing Partnership to Duxb...
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