City of Columbus - File #: 0399-2022

• File #: 0399-2022
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 2/1/2022
• In control: Housing Committee
• On agenda: 2/28/2022
• Final action: 3/2/2022
• Title: To amend the 2021 Capital Improvement Budget; to authorize the City Auditor to appropriate and transfer funds from the Special Income Tax to the Affordable Housing Bond Fund; to authorize the expenditure of $7,000,000.00, from the Affordable Housing Bond Fund; to authorize the Director of Development to enter into a grant agreement with Topiary Park Crossing, Ltd. for the development of Topiary Park Crossing housing project; to allow for reimbursement of costs incurred before the purchase order was approved by the City; to advance the remaining funds on the contract after payment of the costs incurred prior to the approval of the purchase order; and to declare an emergency. ($7,000,000.00)

Date	Ver.	Action By	Action	Result
3/2/2022	1	CITY CLERK	Attest
3/1/2022	1	MAYOR	Signed
2/28/2022	1	COUNCIL PRESIDENT	Signed
2/28/2022	1	Columbus City Council	Approved	Pass

Explanation
BACKGROUND
This legislation authorizes the Director of the Department of Development to enter into a grant agreement with Topiary Park Crossing, Ltd. Topiary Park Crossing is being developed by Columbus Downtown Development Corporation (CDDC) to provide affordable housing units in downtown Columbus at 497 East Town Street. Topiary Park Crossing is a new construction, 98 unit property, with a mix of studios, one bedroom, and two bedroom units that will serve residents at 60%, 80% and 100% of the area median income at the time that it is placed into service. The building will be five stories in total with the first floor consisting of parking.
Located in Downtown Columbus’ Discovery District, this site is steps away from some of the best culture Columbus has to offer including the Columbus Metropolitan Library, Columbus College of Art and Design, Columbus Museum of Art, and of course, Topiary Park. Topiary Park Crossing is also within walking distance of shops and retail, as well as key employment centers and educational institutions including Columbus State Community College, Franklin University, Grant Hospital, State Auto Insurance, Encova Insurance, and the Ohio Statehouse. Amenities include an interior courtyard, in-unit laundries, a fitness center, community room, terrace, and library.
CDDC is a private, non-profit development corporation with a mission to lead city-changing projects in the heart of Ohio’s capital city. CDDC served as the Master Developer for the Columbus Commons project, an award-winning, mixed-use development, and redeveloped the 700,000 square-foot Lazarus Office Building. Currently, CDDC is leading the effort on The Peninsula and has selected development partners to execute the vision for an active, mixed-use, 18-hour district. In addition, CDDC developed key place making spaces such as the Scioto Mile and Dorrian Green, as well as cultural institutions like the first-ever satellite location of the American Museum of Nation...