04-01-13 Council Packet - Laserfiche WebLink

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• Reconstruction - Rebuilding a structure on the same lot where housing is standing at the time of project commitment. The number of units may not be decreased . • Conversion - Conversion of an existing structure from another use into affordable residential housing. • Site Improvements : These must be in keeping with improvements to surrounding standard projects. They include new, on -site improvements (sidewalk s, utility connections, sewer and water lines, etc.) where none are present. They are essential to development or repair of existing improvements. Off - site infrastructure is not eligible. • Acquisition of Property: Acquisition of existing standard proper ty, or substandard property in need of rehabilitation, is eligible as part of either a homebuyer program or a rental housing project. After acquisition, rental units must meet HOME rental occupancy, affordability and lease requirements. • Acquisition of Vacant Land : HOME funds may be used for acquisition of vacant land only if construction will begin on a HOME project within 12 months of purchase. Land banking is prohibited. • Demolition: Demolition of an existing structure may be funded through HOME on ly if construction will begin on the HOME project within 12 months. • Relocation Costs : Permanent and temporary relocation assistance are eligible costs. • Project Related Soft Costs: These costs must be reasonable and necessary. Examples include: fina nce -related costs; architectural, engineering and related professional services: tenant and homebuyer counseling, provided the recipient of counseling ultimately Match: All recipients of HOME funding must contribute or match 25 cents for each dollar of H OME funds spent on affordable housing. Match can come from a variety of sources including: cash; forgone taxes, fees and other charges; donated land or other real property; on -site and off -site infrastructure; proceeds from affordable housing bonds; donate d site preparation and construction materials; donated use of site preparation and construction equipment; donated or voluntary labor and professional services; sweat equity; supportive services; and homebuyer counseling services. Unfortunately applicatio ns for this program were due January 14, 2013, but will likely be available in 2014 as well. CONCLUSIONS While the Council has the community’s best interest in mind with trying to facilitate a public open space in place of a potential blighted property, t he Council should be cognizant of the impacts that creating a public open space on this property will have on future transportation improvements on this corridor. Any future allocation of federal funds to expand the roadway width or install traffic improve ment measures that would impact “park land” would have to go through a rigorous environmental documentation process (4f process – EA). Additionally, after a cursory review of available funding, it does not appear that there are existing programs that would address the Council’s desires for this property. Funding available through numerous entities listed earlier in this memo all have goals to develop/redevelop properties to meet affordable housing needs, job creation needs, or local/regional park and open s pace needs. It does not appear that the proposed project would meet any of these specified needs.