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Date
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January 25,
2010
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Agenda
Item No. MHGB3 Roll
Call No. 10- Communication No.
10-046 Submitted by:
Chris M. Johansen, |
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AGENDA
HEADING:
Approval
of Conveyance of
SYNOPSIS:
Recommend
Council approval to sell Des Moines Municipal Housing Agency disposition
property to HOME, Inc.
FISCAL
IMPACT:
Amount:
$64,500.00 and a five (5) year restrictive covenant of
affordability.
Funding
Source: 2009-2010
Operating Budget, Housing Services Department - Disposed Homes,
SP350 HSG021500.
Page 136.
The
proceeds from the sale will be used accordingly:
- Affordable Housing Endowment
Fund (75%)
- Physical Improvements to
existing Manors (25%)
ADDITIONAL
INFORMATION:
The
Housing Services Department received approval for its application to dispose of
394 Public Housing units at Fair Market Value, via a public bid on August 19, 2003. Where there is a commensurate public benefit,
according to federal regulations, sales can be negotiated with a specific
buyer.
Home
Opportunities Made Easy, Inc. (“HOME, Inc.”), an Iowa nonprofit corporation,
has a long history of providing affordable housing in the City of Des Moines,
of meeting the requirements of federally funded housing programs and has the
ability to meet the requirements of DMMHA’s disposition plan. HOME, Inc. intends to use this property for
their 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): MHGB
Date:
November 24, 2008
Roll
Call Number: 08-2022
Action:
Authorizing the Des Moines Municipal Housing Agency to negotiate with
HOME Inc., for the disposition sale of 1511 18th St.,
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,