A Resolution Authorizing THE CITY MANAGER TO ENTER INTO AN AGREEMENT WHICH PROVIDES THE HOUSING \n \n AUTHORITY OF COLUMBUS AN OPTION TO ACQUIRE CITY-OWNED LIBERTY DISTRICT \n \n PROPERTIES FOR THE PURPOSE OF THE BOOKER T. WASHINGTON PUBLIC HOUSING PROJECT \n \n REDEVELOPMENT AND COMMITS $3,000,000 TO THE REDEVELOPMENT COSTS. whereas, the Authority (together with its development partner) is engaged in the \n \n revitalization of the Booker T. Washington public housing community (?BTW?) \n \n into a new mixed-income, mixed-use community; and \n \n \n \n WHEREAS, the City is committed to the general revitalization of BTW and the \n \n portion of Columbus, Georgia known as the ?Liberty District? (the ?Liberty \n \n District?); and \n \n \n \n WHEREAS, the revitalization of BTW will include the demolition of \n \n its current 392 severely distressed housing units, its management office and \n \n existing site improvements; the redevelopment of BTW into a new master planned, \n \n mixed-income, mixed-use community, currently contemplated to include a total of \n \n 200 multifamily rental units located on two separate sites, future \n \n commercial/retail space, and related on-site infrastructure improvements (the \n \n ?Development?); and \n \n \n \n WHEREAS, the Development is of enormous importance to the economic health of \n \n the City and the areas of the City known as BTW and the Liberty District; and \n \n \n \n WHEREAS, it has been determined that the Development shall be accomplished in \n \n two phases with the first phase of the Development being the demolition of the \n \n current BTW and the development of approximately 100 multi-family rental units \n \n located in the Liberty District (?Phase 1?) and the second phase being the \n \n development of approximately 100 new multi-family rental units and potential \n \n commercial and retail developments on the site of the existing BTW property \n \n (?Phase 2?); and \n \n \n \n WHERAS, the City currently has legal title to or has under option to purchase \n \n several lots in the three block area surrounding the Liberty Theater, as more \n \n fully described on Exhibit A attached hereto (the ?City Property?), which is \n \n the proposed site of Phase 1 development; and \n \n \n \n WHEREAS, as part of its contribution to the Development, the City has agreed to \n \n transfer ownership of the City Property to the Authority at no cost to the \n \n Authority (the ?Property Transfer?) and the Housing Authority is requesting \n \n that the City make a financial contribution to the Development; and \n \n \n \n WHEREAS, the Authority intends to submit a Low-Income Housing Tax Credit \n \n Application in 2013, which is a highly competitive process requiring \n \n documentation of site control and support from the City; and \n \n \n \n WHEREAS, City and the Authority acknowledge and agree that the City must have a \n \n binding obligation to transfer the City Property to the Authority prior to the \n \n Authority?s submission of its Low-Income Housing Tax Credit (LIHTC) application \n \n to the Georgia Department of Community Affairs (DCA), but in no event later \n \n than May 31, 2013, provided however, the actual transfer of the City Property \n \n to the Authority will not occur until the DCA awards the Authority the LIHTC?s \n \n necessary to fund a portion of the Development; and \n \n \n \n WHEREAS, in order to comply with the requirements set forth in the foregoing \n \n for the Authority?s LIHTC application, the City and the Authority have agreed \n \n to enter into and execute a binding Option to Purchase the City Property \n \n substantially in the form attached hereto as Exhibit ?B?; and \n \n \n \n WHEREAS, the Authority will enter into a contract with Columbia Residential to \n \n complete the construction and other tasks contemplated by the Development (the \n \n ?Contract?); and
whereas,
NOW, THEREFORE, THE COUNCIL OF COLUMBUS, GEORGIA, HEREBY
RESOLVES AS FOLLOWS:
That the City Manager is hereby authorized to execute a Memorandum of \n \n Agreement, which provides the Housing Authority of Columbus the Option to \n \n Acquire City-owned Liberty District properties in the event the Low Income \n \n Housing Tax Credit application is successful for the purpose of redevelopment \n \n of the Booker T. Washington public housing site.
Introduced at a regular meeting of the Council of Columbus, Georgia, held the _________ day of _____________ and adopted at said meeting by the affirmative vote of _____________ members of said Council.
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