MHGB
Communication

Office of the City Manager
 
 

Date

March 10, 2008

 

Agenda Item No.         MHGB2

Roll Call No.                08-

Communication No.    08-109

Submitted by:  Chris Johansen, Housing Services Director

 

 

 

AGENDA HEADING:

 

Disposition Sale of 5301 and 5307 SW 9th St. to Community Housing Initiatives, Inc.

 

 

SYNOPSIS:

 

Recommend approval to sell a Des Moines Municipal Housing Agency disposition property to Community Housing Initiatives, Inc.

 

 

FISCAL IMPACT:

 

Amount:  $195,000 from the sale and a five (5) year restrictive covenant of affordability.

 

Funding Source:  FY 2007-08 Operating Budget, 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 a public bid.  Where there is a commensurate public benefit, according to federal regulations, sales can be negotiated with a specific buyer.

 

For many years, Community Housing Initiatives, Inc. (CHI), an Iowa corporation, has provided affordable housing in the state of Iowa while meeting the requirements of federally funded housing programs. It has the ability to meet the requirements of DMMHA’s disposition plan.  CHI intends to use this property for housing opportunities for households 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):

 

Date:  October 6, 2003 

 

Roll Call Number:  03-2267    

 

Action:   Authorizing implementation and approving procedures, notification and form of documents for disposition of scattered site units. (Council Communication No. 03-499). Moved by Vlassis to adopt. Motion Carried 5-3. 

 

Date:  November 4, 2002 

 

Roll Call Number:  02-2579    

 

Action:  Approving disposition application of 394 Public Housing Units for submittal to the U.S. Department of Housing and Urban Development. (Council Communication No. 02-559). Moved by Vlassis to approve. City Manager to provide Board with an implementation plan and timeline. Motion Carried 5-3. Absent: Daniels, McPherson and Clark.

 

Date:  March 4, 2002    

 

Roll Call Number:  02-531

           

Action:  Hearing and adoption of proposed Municipal Housing Agency Annual Budget for the fiscal year ending June 30, 2003. Moved by Hensley to adopt, and as more specifically set out in the attached detailed motion. Motion Carried 5-1-2. Nays: Brooks. Absent: Cownie and Clark.

 

 

ANTICIPATED ACTIONS AND FUTURE COMMITMENTS: NONE

 

 

 

 

For more information on this and other agenda items, please call the City Clerk’s Office at 515-283-4209 or visit the Clerk’s Office on the second floor of City Hall, 400 Robert D Ray Drive.  Council agendas are available to the public at the City Clerk’s Office on Thursday afternoon preceding Monday’s Council meeting. Citizens can also request to receive meeting notices and agendas by email by calling the Clerk’s Office or sending their request via email to cityclerk@dmgov.org.