Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to enter into an agreement with the Bluebird Properties Incorporated (BPI), a non-profit organization. The funds provided by the agreement will be used to undertake the acquisition and rehabilitation components as well as the construction of new build in-fill housing of the Home Again Initiative. BPI currently facilitates the production of affordable housing and the enhancement of home ownership opportunities in Columbus. This legislation authorizes the expenditure of $250,000 to BPI for the acquisition and rehabilitation of vacant houses to increase the supply of decent, safe, sanitary and affordable housing as well as to enhance neighborhood revitalization activities. Specifically, the proposal is to provide the funds to BPI to selectively target acquisitions of vacant properties for redevelopment and to ensure maximum neighborhood revitalization potential of the Franklinton area of the City. BPI may also receive properties from the city that are acquired via the enforcement process.
The Housing Preservation Fund represents the City's commitment to the preservation of housing units affordable to low and moderate-income individuals.
Emergency action is necessary to allow for BPI to immediately begin the acquisition process.
FISCAL IMPACT: Funding is from the Housing Preservation Fund - 2007 Capital Improvements Budget.
Title
To authorize the Director of the Department of Development to enter into an agreement with Bluebird Properties Incorporated to implement a component of the City's Home Again Initiative; to authorize the expenditure of $250,000.00 from the Housing Preservation Fund; and to declare an emergency. ($250,000.00)
Body
WHEREAS, the Department of Development, Housing Division desires to administer a Housing Preservation Fund from city bond proceeds; and
WHEREAS, the Department of Development desires to enter into an a...
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