Title
Acquisition, Rehabilitation, and Resell for Homeownership Program Contracts
Action
Action:
A. Approve contracts in the amount of $750,000 each for Single-family Acquisition, Rehabilitation, and Resell for Homeownership Programs for an initial term of one year to the following:
- Habitat for Humanity of the Charlotte Region,
- Red Cedar / Urban Trends, and
B. Authorize the City Manager to renew the contracts for up to two, one-year terms with possible price adjustments, and to amend the contracts consistent with the purpose for which the contracts were approved.
Body
Staff Resource(s):
Pamela Wideman, Housing and Neighborhood Services
Miles Vaughn, Housing and Neighborhood Services
Warren Wooten, Housing and Neighborhood Services
Explanation
* In the 2020 budget, Council set aside funding for the preservation of single-family workforce and affordable housing.
* The Acquisition, Rehabilitation, and Resell for Homeownership Program works with nonprofit agencies to acquire existing for-sale single-family housing units in need of repair and rehabilitates and sells the homes to eligible low-to-moderate income households earning up to 80 percent of the area median income. The program will seek to preserve at least 12 affordable and workforce single-family homes for homeownership.
* On February 5, 2020, the city issued a Request for Qualifications (RFQ); seven responses were received and evaluated by city and Local Initiatives Support Corporation (LISC) staff.
* The organizations selected are the best qualified to meet the city's needs on the basis of demonstrated competences and qualification of professional services in response to RFQ requirements.
* LISC will support the program by making construction loan financing available to the organizations.
Background
* On August 27, 2018, City Council adopted the Housing Charlotte Framework, which recommends expanding the supply of high-quality rental housing by building new affordable housing, preserving exis...
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