ORDINANCE NO. 250869
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Sponsor: Director of Housing and Community Development Department
Accepting the recommendation of the Housing Trust Fund Advisory Board for additional funding in the amount of $292,186.00 to the 29th & Belleview Townhomes project developed by Hispanic Economic Development Corporation located at 2909 Belleview Avenue; reducing existing appropriations of the Housing Trust Fund, Fund No. 2490, by $292,186.00 and appropriating the same; authorizing the Manager of Procurement Services to execute the necessary documents to amend the funding agreements in accordance with this Ordinance; and designating requisitioning authority.
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WHEREAS, on December 20, 2018, by Committee Substitute for Ordinance No. 180719, the City Council established the Housing Trust Fund to implement neighborhood revitalization, housing development, and preservation projects proposed by the City and in coordination with private developers that are undertaking projects in alignment with the City's Housing policy; and
WHEREAS, on November 4, 2021, the City Council passed Ordinance No. 210873 establishing the Housing Trust Fund Board to review applications, with reporting requirements, and funding allocation direction and prioritization of fund use; and
WHEREAS, on December 16, 2024, the Housing Trust Fund Board adopted a Budget Modification Policy in response to increases in construction costs and or supply chain disruptions, allowing previously awarded projects to make a one-time additional funds request; and
WHEREAS, Hispanic Economic Development Corporation proposed the 29th & Belleview Townhomes project, an affordable housing development project at 2909 Belleview Avenue, creating nine new affordable townhomes for eligible homebuyers; and
WHEREAS, Hispanic Economic Development Corporation was awarded $360,000.00 through Ordinance No. 230084 under Round 2 of the Housing Trust Fund program; and
WHEREAS, the Developer subse...
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