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Home My WebLink About2020-11-05 Info Packet City Council I nformation Packet November 5, 2020 IP1.Council Tentative Meeting S chedule Miscellaneous IP2.Memo from Human Rights Coordinator & E quity Director: Racial E quity Report Card IP3.L etter from the Executive Director of the Housing Trust Fund of J ohnson County: Report on I owa City A ffordable Housing Funding IP4.Quarterly I nvestment Report: J uly - September 2020 IP5.Civil S ervice E xamination: Maintenance Worker I I - S treets Draft Minutes IP6.Historic P reservation Commission: October 8 IP7.Planning & Z oning Commission: October 15 November 5, 2020 City of Iowa City Page 1 Item Number: 1. November 5, 2020 Council Ten tative Meeting Sched u l e AT TAC HM E NT S : Description Council Tentative Meeting S chedule City Council Tentative Meeting Schedule Subject to change November 5, 2020 Date Time Meeting Location Tuesday, November 17, 2020 5:00 PM Work Session Zoom Meeting Platform 7:00 PM Formal Meeting Monday, November 23, 2020 8:00 AM Work Session with State Legislators Zoom Meeting Platform Tuesday, December 1, 2020 5:00 PM Work Session Zoom Meeting Platform 7:00 PM Formal Meeting Tuesday, December 15, 2020 5:00 PM Work Session Zoom Meeting Platform 7:00 PM Formal Meeting Tuesday, January 5, 2021 3:00 PM Budget Work Session (CIP)Zoom Meeting Platform 7:00 PM Special Formal Meeting Saturday, January 9, 2021 8:00 AM Budget Work Session Zoom Meeting Platform Tuesday, January 19, 2021 5:00 PM Work Session Zoom Meeting Platform 7:00 PM Special Formal Meeting Tuesday, February 2, 2021 5:00 PM Work Session Zoom Meeting Platform 7:00 PM Formal Meeting Tuesday, February 16, 2021 5:00 PM Work Session Zoom Meeting Platform 7:00 PM Special Formal Meeting Tuesday, March 2, 2021 5:00 PM Work Session Zoom Meeting Platform 7:00 PM Formal Meeting Tuesday, March 16, 2021 5:00 PM Work Session Zoom Meeting Platform 7:00 PM Special Formal Meeting Tuesday, April 6, 2021 5:00 PM Work Session Zoom Meeting Platform 7:00 PM Formal Meeting Tuesday, April 20, 2021 5:00 PM Work Session Zoom Meeting Platform 7:00 PM Special Formal Meeting Item Number: 2. November 5, 2020 Memo from Hu man Rights Coordin ator & Eq u ity Director: Racial Eq u ity Report Card AT TAC HM E NT S : Description Memo from Human Rights Coordinator & E quity Director: Racial E quity Report Card Item Number: 3. November 5, 2020 Letter from the Execu tive Director of th e Housin g Trust F und of Johnson County: Report on Iowa City Afford able Hou sing F u n d ing AT TAC HM E NT S : Description Housing Trust Fund of J ohnson County: Report on I owa City A ffordable Housing Funding Board of Directors Bob Dvorsky, President Former State Senator, 37th District Crissy Canganelli, President- Elect Shelter House John Warren, Treasurer The Brems Group, CPAs Rod Sullivan, Secretary Johnson County Board of Supervisors ~~~~~~~~~~~~~~~ Simon Andrew, The Housing Fellowship Jerry Anthony, University of Iowa, Urban & Regional Planning Molly Miller, Hills Bank and Trust Company Kirsten Frey, Shuttleworth & Ingersoll Steve Gordon, AM Management Ellen Habel, City of Coralville Rachel Kilburg, City of Iowa City Tracey Mulcahey, City of North Liberty Phil O’Brien, Urban Acres Real Estate Staff Ellen McCabe, Executive Director Housing Trust Fund of Johnson County 26 E. Market Street #123 Iowa City, IA 52245 Mailing Address: PO Box 2446, Iowa City, IA 52244 Email: emccabe@htfjc.org Website: www.htfjc.org Office: 319.358.0212 Date: October 31, 2020 To: Tracy Hightshoe, Neighborhood and Development Services Director From: Ellen McCabe, Executive Director Re: Report on Iowa City Affordable Housing Funding Thank you for the opportunity to report on the utilization of the funding that the City of Iowa City provided to the Housing Trust Fund of Johnson County (HTFJC). FY20 The City of Iowa City funding provided in FY20 was $500,000. City of Iowa City funding, combined with the significant dollars that HTFJC receives from the Johnson County Board of Supervisors and the State housing trust fund program enables HTFJC to make substantial awards toward affordable, sustainable housing projects and programs benefiting people with low incomes in Iowa City. As of September 30, 2020, $208,498.44 has been paid out on affordable housing located in Iowa City utilizing City of Iowa City funding for FY20. $51,452.02 was provided to Sand Corporation for the NEX Apartments at 671 Nex Avenue, Iowa City during the past quarter. The funding paid out to date is part of a loan for $325,000. HTFJC provided two loans totaling $775,000 for the NEX Apartment project. This is a Low-Income Housing Tax Credit (LIHTC) project. NEX Apartments is currently leasing up 32 affordable units with four (4) one- bedroom apartments, 11 two-bedroom apartments, and 17 three-bedroom apartments. Specific information on the types of units, number of units, rents, and income qualification is provided in the table below. Unit Type # of Units Proposed Rent Income Limit 1 bedroom 1 $448 30% AMI 1bedroom 1 $611 40% AMI 1bedroom 2 $774 60% AMI 2 bedroom 1 $532 30% AMI 2 bedroom 5 $728 40% AMI 2 bedroom 5 $923 60% AMI 3 bedroom 2 $619 30% AMI 3 bedroom 5 $837 40% AMI 3 bedroom 10 $1,062 60% AMI There are four Market Rate units ranging in rent from $937 for a one-bedroom unit to $1,288 for a three-bedroom unit. There is a balance of $266,501.56 from FY20 to allocate. Projects that have been awarded funding and are eligible to receive remaining FY20 City of Iowa City funding include: Entity Project Funding Awarded Sand Corporation Nex Apartments – final draw (10/29/2020) $ 16,510.56 Unlimited Abilities Housing Justice – rental housing for five households $ 105,350.00 Shelter House 501 Project – housing first rental housing for 36 households $1,038,000.00 AM Management Sycamore Woods – down payment assistance, five households $ 100,000.00 Housing Fellowship Rehabilitation - two rental properties for two households $ 32,000.00 Successful Living Rehabilitation – two rental properties for ten households $ 64,000.00 Successful Living Acquisition – rental property for five households $ 212,000.00 Total Awarded $1,567,860.56 Four of the awarded projects listed above will serve people with extremely low incomes - those with incomes below 30% of the Area Median Income (AMI). The remaining projects will serve people who have incomes below 80% AMI. FY21 $500,000 was received last month from the City of Iowa City for FY21 to fund housing that is affordable in Iowa City. Please see the table above for projects that have already been awarded funding that will utilize some or all of the FY21 allocation once the FY20 fund balance is depleted as projects move toward completion. As you know, most projects require a year or more to begin and larger projects can take several years from notification of an HTFJC award to completion. HTFJC will be announcing the Low-Income Housing Tax Credit (LIHTC) priority funding round in November. Applications will be due in early January and awards are expected to be announced prior to February 1, 2021. An additional funding round will be held prior to the end of FY21. Thank you for your dedication to creating additional affordable housing in Iowa City. Please express our gratitude to the Mayor, City Council, City Manager, and other staff for their continued commitment to improving the lives of residents of Iowa City with low-to-moderate incomes. Item Number: 4. November 5, 2020 Q u arterly Investment Rep ort: July - September 2020 AT TAC HM E NT S : Description Quarterly I nvestment Report: J uly - September 2020 Item Number: 5. November 5, 2020 Civil Service Examin ation : Main ten ance Worker II - Streets AT TAC HM E NT S : Description Civil S ervice E xamination: Maintenance Worker I I - S treets Item Number: 6. November 5, 2020 Historic Preservation Commission : O ctob er 8 AT TAC HM E NT S : Description Historic P reservation Commission: October 8 Item Number: 7. November 5, 2020 Plan n ing & Z on ing Commission : O ctob er 15 AT TAC HM E NT S : Description Planning & Z oning Commission: October 15