City of Columbus - File #: 2522-2022

• File #: 2522-2022
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 9/9/2022
• In control: Housing Committee
• On agenda: 10/3/2022
• Final action: 10/6/2022
• Title: To amend the 2022 Capital Improvement Budget; to authorize the City Auditor to appropriate and transfer funds from the Special Income Tax to the Affordable Housing Taxable Bond Fund; to authorize the Director of the Department of Development to enter into a Housing Development Agreement and a funding agreement in an amount up to $4,000,000.00 with the Central Ohio Community Land Trust to outline the plans and certain commitments of the parties relating to the proposed redevelopment of land bank lots located in various Columbus neighborhoods; to authorize the expenditure of $4,000,000.00 from the Affordable Housing Taxable Bond Fund and to declare an emergency. ($4,000,000.00)

Date	Ver.	Action By	Action	Result
10/6/2022	1	CITY CLERK	Attest
10/5/2022	1	MAYOR	Signed
10/3/2022	1	COUNCIL PRESIDENT	Signed
10/3/2022	1	Columbus City Council	Approved	Pass

Explanation
1. BACKGROUND
This legislation authorizes the Director of the Department of Development to enter into a Housing Development Agreement (HDA) and a funding agreement with Central Ohio Community Land Trust, an Ohio Non-profit Corporation (hereinafter the “COCLT”). The COCLT is a subsidiary of the Central Ohio Community Improvement Corporation, the Franklin County Land Reutilization Corporation.

COCLT is proposing to develop multiple houses in Columbus neighborhoods using land bank lots. The HDA will memorialize the City’s desired commitment to the COCLT, pending City Council approval and current and future availability of funds. The Department of Development wishes to support COCLT projects by contributing a total of $12,000,000 over three years. This legislation would authorize the Director of Development to first execute the HDA and then a funding agreement in the amount of $4,000,000.00. The projects will continue the successful development of Trust homes that started in 2019 when City Council authorized an initial $4 million dollar investment (Council Ordinances 0227-2019 and 0872-2020) and an additional $3.06 million dollars in 2021 (Council Ordinance 1059-2021). As of July, 2022, a total of 54 houses have been sold to income qualified buyers in Franklin County. This agreement will allow the continued expansion of the COCLT and continue ongoing projects.

Emergency action is requested in order to facilitate uninterrupted construction on another phase in the HNHF/Linden Healthy Homes project, which would be delayed by six months or more without emergency designation.


2. FISCAL IMPACTS
This ordinance authorizes an expenditure of $4,000,000.00 in the Affordable Housing Bond Fund. It is necessary to certify the requisite funds in the amount of $4,000,000.00 against the Special Income Tax Fund. Funds will be reimbursed with a future bond sale. An amendment to the 2022 Capital Improvement Budget is required to establish sufficient budge...