Explanation
BACKGROUND: This ordinance authorizes the appropriation and expenditure of up to $158,668.00 of the 2020 HOME Investment Partnerships Program (HOME) entitlement grant from the U.S. Department of Housing and Urban Development and the expenditure of $10,497.00 from existing ACPOs, for a total of $169,165.00, and to enter into a commitment letter, loan agreement, promissory note, mortgage, and grant agreement with CHP Homeport Homes, LLC for the construction of a single family home in the American Addition Neighborhood, at 1310 Puritan Avenue.
With the construction of a new, single-family home at 1310 Puritan Avenue, CHP Homeport Homes, LLC continues their redevelopment of the American Addition neighborhood in the central city of Columbus. It is a 60 acre site consisting of approximately 260 parcels. The boundaries of the neighborhood are defined by Twelfth Avenue to the north, Dewey Avenue to the south, Joyce Avenue to the west, and Puritan Avenue to the east. Redevelopment of American Addition includes all new infrastructure, storm water system, and new roads and sidewalks. The redevelopment of this residential community consists of mixed home designs, including 2-story and ranch style homes.
The project at 1310 Puritan Avenue is a 1,200 sq. ft., one-story, single-family dwelling and will feature three bedrooms, two bathrooms, a front porch, and a two-car garage. There is a buyer identified for this project who is a first-time homebuyer earning below 80% of the Area Median Income.
This legislation represents appropriation for a part of the HOME portion of the 2021 Action Plan, per Ordinance 2345-2020.
Emergency action is requested to allow for the developer to maintain the project schedule.
Contract Compliance: the vendor number is 019329 and expires 12/5/2021
Fiscal Impact: $158,668.00 is available from the 2020 HOME grant (G451903) and bond funding is available on two existing ACPOs: $3,431.63 from ACPO003815 and $7,065.37 from ACPO004967....
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