Explanation
This ordinance authorizes the Director of the Department of Development to enter into a grant agreement with Erie Ohio Capital CDFI Fund LLC for development of 37 units in an amount up to $2,500,000.00. Erie Ohio Capital CDFI Fund LLC will enter into a grant agreement with the city for the bond funds as a pass-through entity. Juniper Crossing II Limited Partnership is the ownership entity of the project with Erie Ohio Capital CDFI Fund LLC being a loaning member. Approval is also requested for reimbursement of architect, attorney, engineering, and developer fees incurred prior to execution of the purchase order, starting January 1, 2023.
Woda Cooper Companies, Inc. (“WCCI”) is proposing Juniper Crossing II. Juniper Crossing II is the second phase of an 81-unit senior 55+ affordable housing development consisting of two phases located at 60 Obetz Road in the Far South area in Columbus, Ohio. The first phase, consisting of 44 units, received an award of 9% tax credits from OHFA in the 2023 9% funding round and was the only deal to be funded in the City of Columbus.
The second phase is utilizing a condominium structure to add an additional 37 units to the three story elevator building. The Council Variance was approved for a total of 81 senior units so this allows the development team to leverage resources efficiently to meet the growing affordable housing demand in the City of Columbus.
Juniper Crossing II will target households with incomes at or below 60% area median gross income. Juniper Crossing II will include twenty (20) one-bedroom units and seventeen (17) two bedroom units for a total of 37 units. The target population for Juniper Crossing II will be seniors. Juniper Crossing II will include the construction of a three-story elevator building with various amenities including: on-site management office, community room with kitchenette, and more. The project is in close proximity to various amenities including Scioto Southland Community Cen...
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