Title
Resolution to Approve the City of Ann Arbor Affordable Housing Agreement for 616 E. Washington
Memorandum
Attached is a resolution to approve the Affordable Housing Agreement for the 616 E. Washington Street Development, a 19-story apartment building with approximately 240 residential units.
The developer agreed to designate 19 units for affordable housing, with six units provided at a rent level affordable for households earning 60% of Area Median Income and 13 units provided at a rent level affordable for households earning 80% Area Median Income. The units will be available for affordable housing for 99 years.
Council approved the 616 E. Washington Street Site Plan on December 2, 2019 and administratively amended on February 4, 2022. Council approved the 616 E. Washington Development Agreement on December 2, 2019, and the First Amendment to the 616 E. Washington Development Agreement on January 6, 2025.
Prospective tenants are certified as income-qualified by the Office of Community and Economic Development ("OCED"). The developer will provide annual reports to OCED regarding compliance with the Affordable Housing Agreement.
Staff
Prepared by: Nicole Vargas, Assistant City Attorney
Reviewed by: Brett Lenart, Planning Manager
Derek Delacourt, Community Services Area Administrator
Approved by: Milton Dohoney Jr., City Administrator
Body
Whereas, City Council approved 616 E. Washington Street Site Plan on December 2, 2019 and administratively amended on February 4, 2022;
Whereas, City Council approved the 616 E. Washington Development Agreement on December 2, 2019, and the First Amendment to the 616 E. Washington Development Agreement on January 6, 2025; and
Whereas, LMP Ann Arbor Property Owner, LLC, the owner and developer of the 616 E. Washington development has agreed to provide a minimum of nineteen (19) affordable housing units in the development, six (6) of which shall be provided for households earning at or below 60% AMI and thirte...
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