COUNTY OF ALBEMARLE

 

EXECUTIVE SUMMARY

 

 

AGENDA TITLE:

Albemarle Housing Improvement Programís Treesdale Project

 

 

SUBJECT/PROPOSAL/REQUEST:

Approval of appropriation for the Treesdale Project

 

 

STAFF CONTACT(S):

Messrs. Tucker, Elliott, Davis, Breeden, White

 

 

LEGAL REVIEW:   Yes

 

AGENDA DATE:    

August 1, 2007

 

   ACTION:     X                        INFORMATION: 

 

 

CONSENT AGENDA:

   ACTION:                                INFORMATION: 

 

ATTACHMENTS:   Yes

 

 

REVIEWED BY:

 

 

 

BACKGROUND:

Since 1976, the County of Albemarle has provided funding for the staffing and operation of AHIP in order to assist this organization provide low-income County residents with safe, decent, and affordable housing.  Since its inception, AHIP has completed approximately 900 housing rehabilitation projects and 1,100 emergency home repairs to 2,000 of the Countyís neediest families. 

 

In recent years, AHIP has undertaken affordable housing development initiatives including the Parkís Edge Apartment Complex and development of approximately 20 single family units.  In 2007, AHIP submitted a funding request to the County including $50,043 for administrative staff and operational costs associated with its Treesdale project; a property located near Rio Road and on which AHIP is proposing to develop 80 new affordable units. Despite initial reservations by staff related to the timing and feasibility of AHIP completing preliminary work on this project during the FY07 budget period; including obtaining low-income housing tax credits, $50,043 was allocated by the County to fund AHIPís affordable housing development activities. AHIPís FY08 funding request to the County included a $58,140 request to underwrite its housing development initiatives.  After reviewing this request, staff recommended that the requested $58,140 not be funded and the Board approved AHIPís budget based on staffís recommendation.

 

STRATEGIC PLAN:

By June 30, 2010, working in partnership with others, increase affordable housing opportunities for those who work and/or live in Albemarle County.

 

DISCUSSION:

In considering AHIPís FY08 budget request, staff evaluated the progress made by AHIP in obtaining tax credits and rezoning of the property.  At the time of this review, it appeared that little progress had been made on obtaining necessary regulatory as well as financing for the Treesdale Project beyond the acquisition of the property and securing a Planning Grant from Virginiaís Commonwealth Housing Equity Fund. 

 

Subsequent to adoption of the FY08 budget, AHIP appealed staffís decision and has submitted a timeline for submittal of its rezoning proposal to the County in a manner that will meet established deadlines for applying for tax credits. This timeline establishes specific goals and benchmarks to be accomplished by AHIP with any approved funds being released as mutually-agreed upon benchmarks are met.  AHIPís timeline for its Treesdale Project is attached.  All activities have been successfully completed to date.

 

BUDGET IMPACT:

Since the funding requested by AHIP was not appropriated in the FY08 budget, the Board will have to consider allocating reserves to meet this request.  There will likely be sufficient funding remaining in the Housing Officeís FY07 operating budget and an unobligated cash balance from administrative funds associated with the Whitewood (Parkís Edge) CDBG project.

 

RECOMMENDATIONS:

Based on AHIPís ability to meet a number of the items on their timeline in the past couple of months and that specific tasks have been identified to be completed by certain dates, staff recommends approval of Appropriation #2008007, appropriating $24,881.10 in available funds from the Whitewood (Parkís Edge) CDBG project and $25,161.90 from the Boardís contingency to AHIP specifically to fund activities associated with the Treesdale project.  This amount assures funding for this activity equal to FY07 funding.  Staff further recommends that the funding is not made a part of AHIPís annual appropriation but is administered by the Office of Housing through a Memorandum of Agreement which sets forth responsibilities and procedures/timing for disbursements.  

 

 

ATTACHMENTS

A - Treesdale Timeline

B - Appropriation #2008007

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