HomeMy WebLinkAbout02-12-2008 Housing & Community Development Commission
AGENDA
HOUSING AND COMMUNITY DEVELOPMENT COMMISSION
PLANNING DEPARTMENT CONFERENCE ROOM, CITY HALL
TUESDAY, FEBRUARY 12, 2008
6:30 P.M.
1. Call Meeting to Order
2. Approval of the December 20,2007 Minutes
3. Public Comment of Items Not on the Agenda
4. Discussion of FY08 Projects that have not Performed per the Unsuccessful
or Delayed Projects Policy
5. Presentation and Discussion of the Affordable Housing Market Analysis
- Completed by Mullin & Lonergan Associates, Inc.
6. Review of the FY09 Allocation Process & Proforma Basics
7. Monitoring Reports
· Crisis Center - Facility Rehabilitation (Drum)
· Iowa City Free Medical Clinic - Operational & Facility Rehabilitation
(Richman)
· Community Mental Health - FY07 Facility Rehabilitation (Drum)
· Iowa City Housing Authority - FY06 & 07 Tenant Based Rent Assistance
(Shaw)
8. Adjournment
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CITY OF IOWA CITY
MEMORANDUM
Date:
To:
From:
February 5, 2008
Housing & Community Development Commission (HCDC)
Community Development Staff
February Meeting Packet
Re:
Below is a brief description of the February agenda items.
Discussion of Projects that have not Performed per the Unsuccessful or Delayed Projects Policy
The Housing Fellowship was awarded $347,772 for an affordable rental housing project during the
FY08 allocation round. The application identified Low Income Housing Tax Credits as a funding source
needed to proceed; however THF was not able to apply for L1HTC in the application round immediately
following the allocation of local HOME funds. Maryann Dennis, the THF Director submitted a written
request to retain the funds. Please review the attached request. Per the Unsuccessful or Delayed
Projects Policy the commission may recapture the funds or recommend that the recipient retain the
funds for the next funding round.
Neighborhood Centers of Johnson County (NCJC) was allocated $88,000 in CDBG funds to remodel the
kitchen facilities at Pheasant Ridge Neighborhood Center. NCJC has not been able to enter an
agreement or start the project due to difficulty obtaining a leasehold mortgage from the property's
landlord, Mark IV Investors. Staff will provide a project update.
Presentation and Discussion of the Affordable Housing Market Analysis
Staff will present a summary of the affordable housing market analysis and discuss the recommendations
from the report. The Housing Market Analysis was previously mailed or provided to each commission
member under separate cover.
Review of the FY09 Allocation Process and Proforma Basics
Staff will review the allocation cycle for the benefit of the current and new commission members. Staff
will also provide a brief overview of the proforma sheet included in the housing application for rental
housing projects. Please review the packet of information regarding housing project finance that was
mailed in the January packet. It can also be found online at
http://www.icQov.orQ/boardminutes.asp?ID=17.This information will give you the basics in
understanding the spreadsheet and rental housing budgets. Staff will also be discussing conflict of
interest issues as they relate to the allocation process.
Monitoring Reports (contact information included)
· Crisis Center - Facility Rehabilitation (Drum)
Contact Dawn Newbill at 351.2726
· Iowa City Free Medical Clinic - Operational & Facility Rehabilitation (Richman)
Contact Sandy Pickup at 337.9727
· Community Mental Health - FY07 Facility Rehabilitation (Drum)
Contact Stephen Trefz at 338.7884 x211
· Iowa City Housing Authority - FY06 & 07 Tenant Based Rent Assistance (Shaw)
Contact Steve Rackis at 887.6065
If you have any questions about these agenda items, or will be unable to attend, please contact Tracy
Hightshoe at 356-5244 or by email at tracy-hightshoe@iowa-city.org.
Fellowshi
Opening the doors of Johnson County
322 E. 2nd St.
Iowa City, IA 52240
Office 319-358-9212
Fax 319-358-9212
February 5, 2008
Jerry Anthony, Chair
Housing and Community Development Commission
City of Iowa City
410 East Washington Street
Iowa City, IA 52240
RE: Request to retain FY08 HOME allocation
Dear Commission:
I am writing to ask that the Housing and Community Development Commission allow
The Housing Fellowship to retain the allocation of HOME funds in the amount of
$347,772 and prepare an application to the Iowa Finance Authority for FY09 Low-
Income Housing Tax Credits. The application will be due in November 2008.
A threshold requirement of the application is site control. Even though there are a limited
number of lots available in areas of town that the City Council encourages the
development of affordable rental housing, we have a signed purchase agreement for two
single family lots. We have presented several offers that were not accepted. Weare
confident that we will be able to submit a successful application and secure enough lots
for a feasible project.
Thank you for the consideration of my request.
Sincerely,
Maryann Dennis
Executive Director