Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to enter into an agreement with The National Church Residences. The funds provided by the agreement will be used to undertake the acquisition and development of the Commons at Livingston Phase 2 which is a permanent supportive housing project targeted to veterans of the United States Armed Services. The Commons at Livingston is 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 Commons at Livingston Phase 2 is a project under the City of Columbus' five year commitment to provide $6 million in funding over a five year period for the development of additional units under this program. 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. This legislation authorizes the expenditure of $400,000.00 of bond funds to National Church Residences for the acquisition and development of the Commons at Livingston.
Emergency action is necessary to allow for National Church Residences to immediately begin the development of the project.
FISCAL IMPACT: Funding is from the Rebuilding Lives Fund - 2012 Capital Improvements Budget.
Title
To authorize the Director of the Department of Development to enter into an agreement with National Church Residences to undertake the acquisition and development of the Commons at Livingston Phase 2 permanent supportive housing project; to authorize the expenditure of $400,000.00 from the 2012 Housing Preservation Fund; and to declare an emergency. ($400,000.00)
Body
WHEREAS, the Department of Development, Housing Division desires to administer a Rebuilding Lives Fund from city bond proceeds within 2012 Capital Improvements Budget; and
WHEREAS, the Department of Development desire...
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