|City of Independence|
|AGENDA ITEM COVER SHEET|
21-043 - 1R. An ordinance authorizing a Development Agreement with Oikos Development Corporation as a qualifying Community Housing Development Organization, for the development of affordable housing, utilizing 2020-21 HOME Program funds in an amount not to exceed $144,118.00.
Staff recommends approval of this ordinance.
This ordinance designates 2020-21 program year HOME Program funds to OIKOS Development Corporation (ODC), a qualifying Community Housing Development Organization (CHDO), for the development of affordable homeownership opportunities in Independence. With this award two single-family homes will be redeveloped for resale to income eligible families. ODC will acquire and redevelop two vacant or abandoned properties in the Englewood or Fairmount area.
The homes will be single family and Universal Design will be incorporated as is feasible. Included in the HOME funding will be $24,118.00 of HOME Community Housing Development Organization (CHDO) operational funds which will be used for on site management of the construction trades program. OIKOS will provide a needs-based down payment assistance to eligible home buyers.
The ordinance will authorize the expenditure of $120,000.00 in CHDO Project funds, and $24,118 in CHDO Operating funds from the 2020-21 program year Department of Housing and Urban Development HOME Program funds. (Accounts 6803.5406 for project funds and 6805.5226 for CHDO operating funds).
|Department: Community Development||Contact Person: Tom Scannell|
|Community Development Department||Approved|
|City Managers Office||Approved|
|City Clerk Department||Approved|
|Council Action: ||Council Action: |