Explanation
This legislation will allow the Director of the Department of Development to enter into a Housing Development Agreement with NCJC Housing & Development Foundation (“NCJCs”) for the NCJC Downtown Campus (“Project”), which will ultimately be funded with a future Capital Budget, Affordable Housing Bond. Once funds become available, an ordinance will be brought to Council to authorize a grant agreement.
NCJC Downtown Campus (“Project”) is a proposed affordable housing tax credit development with a total of 120 units of housing over a pad with parking and commercial space located at 266 E. Main Street.
The development is being proposed as a joint venture between Sunset Development and the NCJC Housing & Development Foundation (“NCJCs”), which is a local nonprofit. Sunset Development has been involved in the development of affordable housing throughout Ohio for 20 years as a consultant, developer and owner. The NCJCs are a non-profit formed in 2009 with a grant from the Board of the Jaycee Arms HUD 202 for the purpose of providing housing and services to families throughout Ohio. They currently own three Section 8 subsidized projects as well as numerous single-family rentals. In September of 2020 the Board of the Jaycee Arms donated through a refinance and lot split, two parcels of land adjacent to the Jaycee Arms, for the purpose of developing affordable housing. The larger of the two lots sits between the existing Jaycee Arms and East Main Street and is 1.74 acres. The smaller of the two parcels sits directly to the West of the Jaycee Arms and is 0.38 acres.
The Project will serve families and consist of 120 units including 58 one-bedroom units, 48 two-bedroom units and 14 three-bedroom units. It will obtain LEED Silver Green Certification and will also provide for resident parking and amenities such as playground and exercise equipment. The rents will be affordable to families at or below 30 to 80% of the Franklin County AMI using Income Averaging...
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