Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to enter into an agreement with Community Housing Network, Inc. The funds provided by the agreement will be used to undertake the development of the Inglewood permanent supportive housing project. It is a 60 unit housing development being developed as part of the Rebuilding Lives initiative to provide permanent supportive housing for homeless persons and those at risk of being homeless.
The Inglewood project is part of the City of Columbus' commitment to provide $6 million in funding over a five year period for the development of additional units developed for Rebuilding Lives. It is anticipated that $3 million of the $6 million commitment will be provided from bond funds with the remaining funds to come from the City's allocation of HOME Investment Partnership Funds and/or Neighborhood Stabilization Funds. This legislation authorizes the expenditure of $47,059 of bond funds to Community Housing Network, Inc. for the acquisition and development of Inglewood. ($47,059)
Emergency action is necessary to allow for Community Housing Network, Inc. to immediately begin the development of the project.
FISCAL IMPACT: Funding is from the Rebuilding Lives Fund - 2011 Capital Improvements Budget.
Title
To authorize the Director of the Department of Development to enter into an agreement with Community Housing Network, Inc. to assist in the development of the Inglewood permanent supportive housing project; to authorize the expenditure of $47,059.00 from the 2011 Capital Improvements Fund; and to declare an emergency. ($47,059.00)
Body
WHEREAS, the Department of Development, Housing Division desires to administer a Rebuilding Lives Fund from city bond proceeds within 2011 Capital Improvements Budget; and
WHEREAS, the Department of Development desires to enter into an agreement with Community Housing Network, Inc. and to expend $47,059 in bond proceeds;...
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