CITY COMMISSION AGENDA ITEM

Department:	City Manager’s Office		Commission Meeting Date: December 11, 2018
Staff Contact:	Diane Stoddard, Assistant City Manager
Recommendations/Options/Action Requested:
Authorize the City Manager to execute an agreement with Tenants to Homeowners, Inc. to provide $30,000 in Housing Trust Funds to match a State of Kansas HOME Investment Partnership grant for a three-unit rental development located at 1346-1350 Maple Lane as previously approved by the City Commission and recommended by the Affordable Housing Advisory Board.
Executive Summary:		In January 2018, the City Commission authorized $30,000 in Housing Trust Funds for a grant match for a State of Kansas HOME Investment Partnership grant to Tenants to  Homeowners, Inc. (The Community Housing Trust) to support a three-unit rental development in Lawrence.  The grant funds from the City were set aside pending the HOME grant award.  The HOME grant was subsequently awarded to Tenants to Homeowners, Inc. so that they could proceed with the project.  The purpose of this agenda item is the formal approval of the agreement between the City and Tenants to Homeowners, Inc. for this project.  The agreement provides that the City’s funds will be transferred upon execution of the agreement.  It also requires Tenants to Homeowners to follow the requirements of the grant agreement, which include a 20-year affordability period and a requirement that all units be initially rented to households at or below sixty percent (60%) of Area Median Income (AMI), though after such initial lease up, the units may be rented to households up to eighty-percent (80%) AMI.
Strategic Plan Critical Success Factor		Safe, Healthy, and Welcoming Neighborhoods Collaborative Solutions Economic Growth and Security
Fiscal Impact (Amount/Source):		$30,000 is available and budgeted in the Housing Trust Fund for this project.
Attachments:		Agreement

Reviewed By: (for CMO use only)

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