City of Columbus - File #: 064X-2004

• File #: 064X-2004
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 3/4/2004
• In control: Health, Housing & Human Services Committee
• On agenda: 3/15/2004
• Final action: 3/17/2004
• Title: To support the application of Columbus Housing Partnership (Summerfield) for Low Income Housing Tax Credits; and to declare an emergency.

Date	Ver.	Action By	Action	Result
3/17/2004	1	CITY CLERK	Attest
3/16/2004	1	MAYOR	Signed
3/15/2004	1	Columbus City Council	Adopted	Pass
3/15/2004	1	COUNCIL PRESIDENT	Signed
3/9/2004	1	Dev Drafter	Sent to Clerk's Office for Council
3/8/2004	1	City Clerk's Office	Sent back for Clarification/Correction
3/4/2004	1	Dev Drafter	Sent for Approval
3/4/2004	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
3/4/2004	1	Dev Drafter	Sent for Approval
3/4/2004	1	CITY ATTORNEY	Reviewed and Approved
3/4/2004	1	Dev Drafter	Sent to Clerk's Office for Council

Explanation

BACKGROUND: The Ohio Housing Finance Agency (OHFA) operates the Low Income Housing Tax Credit Program (LIHTC). This program is designed to increase the supply of quality affordable rental housing. These federal income tax credits provide the private housing development community the incentives to develop affordable housing by offsetting building acquisition, new construction or substantial rehabilitation costs.

LIHTC is a competitive review process based on the applicant meeting selected criteria. Some of the criteria are public benefit, location and organizational capacity. A resolution of support from Columbus City Council would provide the applicant with thirty-five (35) competitive points. The LIHTC applications are due to OHFA on March 18, 2004.

Emergency action is requested for this resolution in order to comply with the time line for the OHFA applications.

FISCAL IMPACT: No funding is required for this legislation.


Title

To support the application of Columbus Housing Partnership (Summerfield) for Low Income Housing Tax Credits; and to declare an emergency.


Body

WHEREAS, The Ohio Housing Finance Agency (OHFA) is requesting applications for the Low Income Housing Tax Credit Program (LIHTC) from developers to create affordable housing in areas of high need and for special populations having the highest need; and

WHEREAS, the allocation plan offers competitive points for local government support in the form of a City Council resolution; and

WHEREAS, Columbus Housing Partnership (Summerfield) is proposing the rehabilitation of rental housing units throughout the City of Columbus; and

WHEREAS, the project will contain a total of one hundred eleven (111) units; and

WHEREAS, twenty-three (23) of the project's units will be affordable to and occupied by extremely low income persons at thirty-five (35) percent or less of AMGI; and

WHEREAS, eighty-eight (88) of the project's units will be affordable to...