MHGB Communication Office of the City Manager	Date	December 17, 2007
	Agenda Item No. MHGB5 Roll Call No. 07- Communication No. 07-738 Submitted by: Chris Johansen, Housing Services Director

AGENDA HEADING:

Approval of Conveyance of 1700 11^th Street to Greater Des Moines Habitat for Humanity, Inc.

SYNOPSIS:

Recommend approval to sell Des Moines Municipal Housing Agency disposition property to Greater Des Moines Habitat for Humanity, Inc.

FISCAL IMPACT:

Amount: $61,125 and a (5) year restrictive covenant of affordability.

Funding Source: FY 2007-08 Operating Budget, Housing Services, Public Housing, pg. 173, SP350 HSG020000. The proceeds from the sale will be used accordingly:

• Affordable Housing Endowment Fund (75%)
• Physical Improvements to existing Manors (25%)

ADDITIONAL INFORMATION:

On August 19, 2003, the Housing Services Department received approval for its application to dispose of 394 Public Housing units at Fair Market Value via public bid. Where there is a commensurate public benefit, according to federal regulations, sales can be negotiated with a specific buyer.

For many years, Greater Des Moines Habitat for Humanity, Inc., an Iowa nonprofit corporation, has provided affordable housing in the City of Des Moines while meeting the requirements of federally funded housing programs. It has the ability to meet the requirements of DMMHA’s disposition plan. Greater Des Moines Habitat for Humanity, Inc. intends to use this property for its Affordable Homeownership Program for a household below 80% of HUD median income guidelines. DMMHA has received HUD approval for this negotiated sale.

PREVIOUS COUNCIL ACTION(S): NONE

BOARD/COMMISSION ACTION(S): NONE

ANTICIPATED ACTIONS AND FUTURE COMMITMENTS: NONE