Explanation
BACKGROUND: This ordinance authorizes appropriation and expenditure of up to $19,188.00 of the 2021 HOME Investment Partnerships Program (HOME) program income from the U.S. Department of Housing and Urban Development and authorizes the Director of the Department of Development to modify a loan agreement, promissory note, and mortgage with CHP Homeport Homes LLC to add up to $19,188.00 for the 181 N. Ohio project.
With the construction of a new, single-family home at 181 N. Ohio Avenue, CHP Homeport Homes, LLC continues development projects to bring 12 new single-family homes to the Near East Side of Columbus. The 12 sites are scattered on N. Ohio Ave., Mt. Vernon Ave., Burt St., and Granville St. These sites are close to where Homeport has already developed 70 homes. These new homes will be a mix of one and two-story models designed by Sullivan Bruck Architects.
The project at 181 N. Ohio Avenue is a 1,200 sq. ft., two-story, single-family dwelling and will feature three bedrooms, two bathrooms, a front porch, and a detached 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.
The modification is needed to address increased construction costs.
This legislation represents appropriation for a part of the HOME portion of the 2022 Action Plan, per Ordinance 2800-2021.
Original $159,687.00 Ord. 2048-2019 & 0869-2020 PO295202
Mod 1 $ 19,188.00
Total $178,875.00
Emergency action is requested in order for the organization to maintain their project schedule.
Contract Compliance: the vendor number is 019329 and expires 1/13/2024.
Fiscal Impact: Funding is available from the 2021 HOME program income (G452000).
Title
To authorize the appropriation and expenditure of up to $19,188.00 of 2021 HOME Investment Partnerships Program (HOME) program income; to authorize the Director of the Department of Development to modify a loan agreement, promissory note, and mortgage ...
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