Item 4: Approval of Funding for Housing Affordable to Low-Income Persons

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COUNCIL OPTIONS The City Council has three options: 1.Approve funding for Bascom Village as recommended by Housing Policy Board. 2.Approve funding for Bascom Village with modifications. 3.Decline to approve funding for the proposed project. CITY MANAGER’S RECOMMENDATION The City Manager recommends option #1, including approval, for Phase 1 development of Bascom Village: 1) transfer of the western portion of the County Farm landbank site to SVDP; 2) commitment of $351,603 (RFP request + COE incurred costs) in HOME funds; and 3) provide for $249,593 in Eugene SDC waivers and to also approve for Phase 2 development of Bascom Village: 1) transfer of the eastern portion of County Farm landbank site to HACSA; 2) commitment of $249,603 (RFP request + COE incurred costs) in HOME funds; and 3) provide for $224,346 in Eugene SDC waivers. In addition, make a recommendation to the Eugene Water & Electric Board (EWEB) to approve an SDC grant for each phase of the project. SUGGESTED MOTION Move to approve, for Phase 1 development of Bascom Village: 1) transfer of the western portion of the County Farm landbank site to SVDP; 2) commitment of $351,603 in HOME funds; and 3) provide for $249,593 in Eugene SDC waivers and to also approve for Phase 2 development of Bascom Village: 1) transfer of the eastern portion of County Farm landbank site to HACSA; 2) commitment of $249,603 in HOME funds; and 3) provide for $224,346 in Eugene SDC waivers. In addition, make a recommendation to EWEB to approve an SDC grant for each phase of the project. ATTACHMENTS A.List of Housing Policy Board and Evaluation Committee members B.Preliminary design for Bascom Village FOR MORE INFORMATION Staff Contact: Becky L. Wheeler, Housing Finance Analyst Telephone: 541.682.5532 Staff E-Mail: Becky.L.Wheeler@ci.eugene.or.us S:\CMO\2011 Council Agendas\M111128\S1111284.doc