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<br />January 14, 2019, Meeting – Item 4 <br />respective City Councils. The Governing Board is composed of the Eugene and Springfield Mayors, one Springfield City Councilor, and one Eugene City Councilor. City of Eugene is represented by Councilor Pryor and Mayor Vinis. <br />Land Acquisition for Affordable Housing Program Another way the City supports development of new affordable housing is through the Land Acquisition for Affordable Housing Program (also known as the Land Bank Program), first established in 1979. Through the Land Acquisition for Affordable Housing Program, the City creates a pipeline of appropriate sites and seeks to place affordable housing throughout the community. In November 2015, City Council approved the acquisition of 2.91 acres at 1505-1525 River Road, located on the east side of River Road just north of East Maynard Ave (see Attachment A). With the Controlled Income and Rent density bonus for affordable housing, it was anticipated that 50-60 affordable units could be built on the site. As part of the development selection process, staff conducted extensive outreach with area neighbors, including attendance at multiple River Road Community Organization meetings, a tour of existing affordable housing developments, meetings with adjacent neighbors, and a presentation to interested neighbors by potential developers of the site. The Community Development Block Grant funds used for acquisition require that the site be developed within five years. <br />2018 Affordable Housing Request for Proposals Process Through the 2018 Affordable Housing RFP, $1,474,534 in HOME funds were made available for projects in Eugene that addressed the needs of very-low income persons and special needs populations. The RFP prioritized funding for the city-owned River Road site because of the CDBG requirements for timing of construction. Four proposals were received in Eugene including three proposals for the development of the River Road site. One proposal was also received for a project in Springfield. <br />Summary of Proposals The following summary of the three River Road property proposals are presented in order of their ranking by the Evaluation Committee. See Attachments B – D for images and additional information about each proposal. River Road Affordable Housing (to be named later in partnership with RRCO) – SVDP requested $725,000 to build 52 one, two, and three bedroom housing units affordable to very low and extremely low-income households. River Connection- Cornerstone Community Housing requested $817,114 to build 60 one, two, three, and four bedroom housing units affordable to low and very low-income households. Harmony Court – Northwest Real Estate Capital Corp, based in Boise, Idaho, requested $500,000 in HOME funds to build 46 one, two, three, and four bedroom housing units affordable to low and very low-income households, and 3 market-rate rental units. The proposal for the remaining available HOME funds was submitted by Homes for Good Housing Agency: