Explanation
BACKGROUND: This legislation authorizes the expenditure in an amount up to $279,500.00 of the 2024 HOME Investment Partnerships Program (HOME) entitlement grant funds from the U.S. Department of Housing and Urban Development (HUD) and also authorizes the Director of the Department of Development enter into a commitment letter, loan agreement, promissory note, mortgage, restrictive covenant, and authorizes the city to act as a lender for this project with the Gertrude Wood Community Foundation. The project is to develop and construct a single housing unit at 955 Miller Avenue that was recently purchased from the City of Columbus Land Bank.
The funding of this project will address the need for affordable housing in the City of Columbus for low-income families that are at or below 80% of the Area Median Income limits set by HUD. This project will add decent, safe and sanitary housing to the Near Southside/Livingston Avenue Neighborhood, located on the Southside of Columbus. The increased availability of safe and stable housing in Columbus promotes the health and well-being of the neighborhood and the citizens living in the neighborhood and surrounding areas.
We are funding this project with the Gertrude Wood Community Foundation, who is a Community Housing Development Organization (CHDO) in partnership with the City of Columbus. Gertrude Wood Community Foundation will use HOME CHDO set-a-side and entitlement funds to develop the 955 Miller Avenue project on land purchased from the Land Bank.
Gertrude Wood Community Foundation was founded in 2005 with the mission to empower the Driving Park area by bringing new housing opportunities to the neighborhood, as well as other supportive services that promote a safer and healthier neighborhood for the residents.
With the construction of a new, single-family home at 955 Miller Avenue, the Gertrude Wood Community Foundation is investing in and providing affordable housing to the Near Southside neighborhoo...
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