Explanation
BACKGROUND: This ordinance authorizes the appropriation and expenditure of up to $700,000.00 of the 2021 HOME Investment Partnerships Program (HOME) entitlement grant and program income from the U.S. Department of Housing and Urban Development and to enter into a commitment letter, loan agreement, promissory note, mortgage, and restrictive covenant with Cherry Blossom Senior Housing Limited Partnership to renovate the existing Cherry Blossom complex.
Cherry Blossom is an existing apartment community designed to house low-income seniors aged 62+ within Central Ohio. The site for this senior housing community is 5225 Cherry Creek Pkwy North in Columbus, located near the intersection of Sullivant Ave. and Norton Rd. The site is located in close proximity to neighborhood services, shopping, public transportation, and healthcare services. The project consists of fifty-four (54) one-bedroom units and one (1) two-bedroom manager’s unit located in the Westland neighborhood of Columbus. Each unit has a separate kitchen, bathroom, living area, and bedroom. A percentage of the residential units will be designed to be 100% accessible and will be consistent with Section 504, Uniform Federal Accessibility Standards, Fair Housing and ADAAG.
This deeply affordable community will include an on-site Service Coordinator who is currently and will continue to be funded out of project rents. Cherry Blossom will also include dedicated staff office space and commons areas for social and wellness activities.
Cherry Blossom will participate in the Rental Assistance Demonstration (RAD) program to convert its
Project Rental Assistance Contract (PRAC) subsidy into a long term Section 8 contract which will cover all 54 affordable units. In response to a need for a long term preservation strategy, the “RAD for PRAC” initiative was approved in HUD’s FY2018 budget. This program allows owners to convert rental assistance contracts to the Section 8 platform and leverage additiona...
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