Background: Homeownership Earned and Reached Together (HEART) is a program designed to improve the quality of life through the elimination of substandard housing by providing access to fit and affordable housing, and building assets for financial independence for all citizens of low-to-moderate income. Columbus Housing Initiative, Inc. (d.b.a. Neighborworks Columbus) has been awarded $1 million in Tax Credit Assistance Program (TCAP) funding from the Georgia Department of Community Affairs (DCA) to facilitate this program. The funding requires a 1:1 match, and the CDBG funding will be used as a match for a portion of this funding. The CDBG funding will be provided in the form of a 0% interest loan that will be repaid over a period of 15 years.
Analysis: This project will assist with revitalization efforts throughout Columbus, with concentration in the North Highlands/Anderson Village neighborhoods. It will eliminate blight, increase the tax revenues generated from the properties, and provide low- to moderate income households with decent, safe and affordable housing.
Financial Considerations: The City will provide up to $175,000 in CDBG funds to carry out the project. The CDBG funding will be budgeted from HUD program year 2017 allocation that has been carried over.
Legal Considerations: The City Attorney will review and approve the proposed CDBG Written Agreement prior to obtaining signatures.
Recommendations: Approve a resolution to enter into a CDBG Written Agreement, between the Columbus Consolidated Government and Columbus Housing Initiative, Inc. (d.b.a. Neighborworks Columbus), to award $175,000 to acquire, rehabilitate or construct affordable single-family housing for income eligible households.
Introduced at a regular meeting of the Council of Columbus, Georgia, held the _________ day of _____________, 2018 and adopted at said meeting by the affirmative vote of ___________ members of said Council.
Councilor Allen voting __________.
Councilor Baker voting __________.
Councilor Barnes voting __________.
Councilor Davis voting __________.
Councilor Garrett voting __________.
Councilor Huff voting __________.
Councilor Thomas voting __________.
Councilor Turner Pugh voting __________.
Councilor Woodson voting __________.
Tiny B. Washington, Clerk of Council Teresa Pike Tomlinson, Mayor