Explanation
BACKGROUND
This legislation authorizes the Director of the Department of Development to enter into a Housing Development Agreement (HDA) with Erie Ohio Capital CDFI Fund LLC for the Starling Yard project.
The HDA would memorialize the City’s desired commitment to the project, pending City Council approval and future availability of funds. The Department of Development wishes to support this project by contributing $3,000,000.00 of bond funds from a future Capital Budget. This legislation would authorize the Director of Development to first execute the HDA and when funding is available, the department will seek City Council’s approval to execute a grant agreement for the project.
Starling Yard will occur on the former school site located at 120 South Central Avenue. The property contains the historic 1908 Starling School (originally built as West High School), and is bounded on its perimeter by existing housing (north, east, and south), as well as the new Starling Middle School, West Central School and existing senior apartments to the west. The site is walkable to the West Broad Street corridor, which contains a number of restaurants and retail stores. The Franklinton Branch of the Columbus Metropolitan Library and City of Columbus Fire Station and EMS Station 10 are just a short distance away. When completed, the project will deliver new high-quality infill development with important safe and accessible affordable units needed by families, redevelop a vacant historic structure as additional affordable housing units while at the same time returning the building to its more appropriate 1908 configuration, and provide housing in an undeserved area of the City of Columbus.
Starling Yard will contain 18 one-bedroom units, 26 two-bedroom units, and 8 three-bedroom units. The property will be mixed-income, featuring affordable housing ranging from 30% AMI, up to 80% AMI, accommodating various household sizes. 20 units will be set-aside for residents earning at or below 30% AMI, 24 units will be set-aside for residents earning at or below 50% AMI, 11 units will be set-aside for residents earning 60% AMI, and 42 units will be set-aside for residents earning 80% AMI. The project will be appropriate for a variety of populations: singles, young professionals, seniors, single-parent households, small families needing three-bedroom units, and those needing workforce housing in close proximity to downtown and surrounding job centers. The project intends to have no fewer than 10% of the units be fully accessible, ideal for people with housing entry barriers including the elderly, persons with mobility disabilities, and those less mobile. Additional units will be set-aside for hearing/vision impaired residents.
On-site amenities will include management offices, community room, and more. The project is less than 100' from COTA bus stops, and quality retail including United Dairy Farms store, Bottoms Up Coffee, several restaurants, houses of worship, Jubilee Market Grocery, and Lower Lights Pharmacy. Programming opportunities will be offered through Franklinton Development Association.
Emergency action is requested in order to maintain the project schedule.
FISCAL IMPACT: No funding is needed.
CONTRACT COMPLIANCE: the vendor number is 033062 and pending approval
Title
To authorize the Director of the Department of Development to enter into a Housing Development Agreement (HDA) with Erie Ohio Capital CDFI Fund LLC for the Starling Yard project; and to declare an emergency. ($0.00)
Body
WHEREAS, the Director of Development seeks to enter into a Housing Development Agreement (HDA) with Erie Ohio Capital CDFI Fund LLC for the Starling Yard project; and
WHEREAS, the HDA would memorialize the City’s desired commitment to the project, pending City Council approval and future availability of funds; and
WHEREAS, The Department of Development wishes to support this project by contributing $3,000,000.00 of bond funds from the a future Capital Budget; and
WHEREAS, this legislation would authorize the Director of Development to first execute the HDA and pending the availability of funding in a future Capital Budget, the department will seek City Council’s approval to enter into a grant agreement; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development to pass this ordinance as emergency in order to maintain the project schedule, thereby preserving the public health, peace, property, safety and welfare; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That Director of the Department of Development is authorized to enter into a Housing Development Agreement (HDA) with Erie Ohio Capital CDFI Fund LLC for the Starling Yard project.
SECTION 2. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this Ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.