Title
City-Owned Properties for the Development of Affordable Housing
Action
Action:
Authorize the City Manager and staff to work with recommended affordable housing developers to finalize the preliminary affordable housing proposals and negotiate conveyance of the following vacant city-owned properties for the development of affordable housing:
* 3924 and 3932 Freedom Drive, (parcel identification numbers 063-052-04 and 063-052-05), conveyance to True Homes and Prosperity Alliance, and
* 7825 Tyner Street (parcel identification number 047-221-11), conveyance to Camino Community Development Corporation.
Body
Staff Resource(s):
Rebecca Hefner, Housing and Neighborhood Services
Warren Wooten, Housing and Neighborhood Services
Michael Englehart, Housing and Neighborhood Services
Explanation
* On November 26, 2024, the city issued a Request for Proposals (RFP) to solicit proposals for affordable or mixed-income housing development on city-owned land.
* The use of city-owned land allows for additional leveraging of the city's housing resources, such as the Housing Trust Fund. This strategy is a best practice used across the country to assist in expanding the supply of affordable housing and is consistent with the Council approved Housing Charlotte Framework, Affordable Housing Funding Policy, City-Owned Real Estate and Facilities Policy, and the Guidelines for Evaluation and Disposition of City-Owned Land for Affordable Housing.
* In response to the RFP, three development proposals were received for the Freedom Drive and Tyner Street parcels (one for the Freedom Drive parcels, and two for the Tyner Street parcels).
* The recommended developers and proposed preliminary developments are best qualified to maximize affordable housing opportunities and meet the city's goals and priorities, as follows:
* Freedom Drive
* Parcel identification number(s): 063-052-04 and 063-052-05
* Council District: 2
* Appraisal: An appraisal of the property completed in July 2024, ...
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