Title
Resolution to Approve a Grant Agreement with the Ann Arbor Housing Development Corporation to Support the Development of a Sustainable and Affordable Housing Project at 350 S. Fifth Ave. and Appropriate Funding ($1,000,000.00) (8 Votes Required)
Memorandum
The City of Ann Arbor has set a series of aggressive goals related to climate action and sustainability, including supporting affordable housing developments with 100% clean and renewable energy.
The Ann Arbor Housing Commission ("AAHC"), through its 501(c)(3), the Ann Arbor Housing Development Corporation ("AAHDC"), is developing the previously City-owned parcel at 350 S. Fifth Ave. as sustainable and affordable housing. The project includes a 329,242 square foot, 20-story mixed-use building that includes approximately 330 1- and 2-bedroom apartments with tenant community space and staff offices, and approximately 6,500 square feet of commercial space. All residential units will be affordable to households with incomes at or below 80% of Area Median Income ("AMI") with an income average of no more than 60% AMI, as restricted by Low Income Housing Tax Credits ("LIHTC") and the City's PILOT ordinance. At least 110 of the 330 units (33%) will be targeted to households earning less than 30% of the AMI and will be directly supported by the AAHC through both project-based rental vouchers and supportive services.
The building will have the following sustainable features:
* Compact development with connections to existing infrastructure and public transit to reduce car dependency
* High-performance building envelope to minimize heat loss/gain
* Energy efficient HVAC systems, appliances, and lighting to reduce energy demand
* Geothermal ground source heat pump system
* Full-building electrification, eliminating Scope 1 carbon emissions (aside from emergency generator)
* Solar-ready provisions, supporting future renewable integration
* Low-flow fixtures and water-efficient appliances
* Stormwater management...
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