Columbus, Georgia

Agenda Item # 2



Columbus Consolidated Government



Council Meeting



04/19/2005



Agenda Report # 52



TO: Mayor and Council



SUBJECT: Agenda - Support for Integral Properties



INITIATED BY: Community Reinvestment







Recommendation: Approval is requested of the attached resolution

granting support for Integral Properties, LLC to apply for Low Income Housing

Tax Credits (LIHTC) to Construct Phase II of the Peabody Apartments.



Background: The Housing Authority of Columbus Georgia was successful in

obtaining a HOPE VI Revitalization Grant. Integral Properties was selected as

the developer/partner. It is anticipated there will be a total of 182- unit

rental, mixed income residential community. The Resolution of Support is

needed for point value on the application for Low Income Housing Tax Credits

(LIHTC).



Analysis: The value of the development project to the health and well being

of the neighborhood is immeasurable. The project meets the established

criteria for a LIHTC project.



Financial Considerations: none



Legal Considerations: Council must approve all resolutions



Recommendations/ Actions: Approval is requested of the attached resolution.