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Economic & Urban Development Department Memorandum <br /> # 03-134 <br /> December 30, 2003 <br /> TO: Honorable Mayor Osborne and City Council <br /> FROM: Steve ity Manager <br /> Dane C. B g , Director of Economic and Urban Development� <br /> Linda J. Lov Neighborhood Programs Manager �,(�� <br /> SUBJECT: Rental Rehabilitation Agreement <br /> RECOMMENDATION: <br /> Staff recommends approval of attached resolution authorizing an agreement to rehabilitate the <br /> multifamily buildings at North Main and West Packard using federal funds in an amount not to <br /> exceed a total of$66,500. <br /> BACKGROUND: <br /> The City implemented a Neighborhood Stabilization Program to increase available safe, decent, <br /> affordable housing in the O1deTowne Redevelopment Project Area and the area surrounding the <br /> Near North Redevelopment Area for low and moderate income persons through public/private <br /> partnerships with qualified investor-owners. A qualified investor-owner is one who has had no <br /> more than one housing maintenance code conviction within the past 12 months. Upon project <br /> completion all units, along with applicable common areas, will meet home maintenance code. <br /> Staff recommends participating in a rental rehabilitation project under the Neighborhood <br /> Stabilization Program for the four multifamily buildings located at North Main and West Packard, <br /> specifically: 1113-1115 '/2 North Main (3 rental units), 1102-1107 North Main (4 rental units), <br /> 114-118 '/Z West Packard(4 rental units), and 134-136 '/2 West Packard(3 rental units). The City <br /> will provide up to 50% of the cost of the project, not-to-exceed $4,750 per rental unit, using <br /> Community Development Block Grant (CDBG) funds, from the U.S. Department of Housing and <br /> Urban Development. A sample agreement is attached for your review. <br /> POTENTIAL OBJECTION5: <br /> City staff is not aware of any objections. <br /> INPUT FROM OTHER SOURCES: <br /> Federal guidelines for the use of entitlement funds <br /> STAFF REFERENCE: <br /> Should the City Council have any questions, they may contact Linda Love, Neighborhood <br /> Programs Manager at 424-2777 or email ljlove@decaturnet.org <br /> BUDGET/TIME IMPLICATIONS: <br /> $66,500 in FY03-04 CDBG funds. <br />