Title
Resolution to Allocate $198,250.00 of CDBG Funds to Avalon Housing, Inc. and Approve a Housing Rehabilitation Agreement to Rehabilitate Stimson Apartments at 1613 White and 800-828 Stimson ($198,250.00 CDBG Funds)
Memorandum
Attached for your review and approval is a resolution to allocate $198,250.00 of CDBG funds to Avalon Housing, Inc. and approve a Housing Rehabilitation Agreement with Avalon Housing, Inc. to rehabilitate Stimson Apartments at 1613 White and 800-828 Stimson, a 23 unit multi-family housing complex serving households at 50% of Area Median Income or less.
Avalon Housing Inc. has conducted a capital needs assessment to determine the physical condition of the units. Community Development has been working with a consultant hired by the Michigan State Housing Development Authority (MSHDA) and Avalon to develop a business plan to ensure the preservation of Avalon and WAHC’s units as part of a merger between the organizations. This request is part of a $9 million reinvestment in these properties, funded by the City of Ann Arbor, Washtenaw County, MSHDA, the Federal Home Loan Bank, the Ann Arbor DDA, the County Weatherization program and private financial institutions.
The $198,250.00 of City of Ann Arbor CDBG funds are allocated in the FY 2010 budget. These funds are from the single-family rehabilitation program which were not previously utilized. The Office of Community Development recommends that Council approve these funds as a rehabilitation grant.
Staff
Prepared by: Jennifer Hall, Housing Program Coordinator
Reviewed by: Mary Jo Callan, Community Development Director and Jayne Miller, Community Services Administrator
Body
Whereas, An application was received from Avalon Housing Inc., to rehabilitate Stimson Apartments, at 1613 White and 800-828 Stimson, a 23-unit multi-family complex serving households at 50% of Area Median Income or less; and
Whereas, Avalon Housing Inc. has conducted a capital needs assessment to determine ...
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