Explanation
Background: Columbus City Council by Ordinance No. 2293-2015, passed September 10, 2015, authorized the Director of the Department of Development to make financial assistance available as grants to homebuyers, renters, for-profit and non-profit organizations to increase the local supply of decent, safe, and sanitary housing and decrease the number of vacant properties in our neighborhoods. The ordinance also authorized the expenditure of $2,231,684.71 from the 2015 Housing Preservation Fund.
Pursuant to the authority of Ordinance No. 2293-2015, a grant agreement was made as of May 1, 2017 by and between the City of Columbus, Department of Development (City) and Toni J. Sofranko and Carl D. Sofranko, married Ohio residents (Recipient). The City committed to make a Housing Preservation Bond grant to Recipient in the amount of Ninety- Seven Thousand Eight Hundred Thirty-Six and 25/100 dollars ($97,836.25). This agreement was later modified on September 17, 2017 to add additional needed funds in the amount of Seven Hundred Thirty-Eight and 75/100 dollars ($738.75) in accordance with Ordinance No. 2053-2014 passed on September 25, 2014. There was a second modification made on October 26, 2017 to add in additional funds needed in the amount of One Thousand and One Hundred 00/100 dollars ($1,100) and in accordance to ordinance number 2053-2014 passed on September 25, 2014, bringing the total amount of funds provided in this grant agreement to Ninety-Nine Thousand Six Hundred Seventy-Five dollars ($99,675.00).
This funding was made available under the Housing Preservation Bond Program for the purpose of assisting the City with the Vacant and Abandoned Properties Initiative. The Recipient used the Funds for the rehabilitation of a two (2) unit rental housing project located at 176-178 N. Harris Avenue, Columbus, Ohio 43204 (Property). In return for the rehabilitation funding, the Recipient agreed to maintain the rental units as affordable to low- and m...
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