Title
Approval of a Resolution in support of an application to the Georgia Department of Community Affairs (DCA) for 2014 low-income housing tax credits for the redevelopment of the Roswell Housing Authority Veranda at Groveway project.
Administration
Body
Item Summary:
The Roswell Housing Authority (RHA) has requested that the City of Roswell support the redevelopment for the Veranda at Groveway and the tax credit application with DCA for 2014.
Committee or Staff Recommendation:
On March 11, 2014, the Administration, Finance, Recreation and Parks Committee recommended placing this Item on the March 24, 2014 Mayor and Council Agenda.
Financial Impact:
The current commitment by the City is for HOME funding from 2013 and 2014 for $50,000 each program year, $177,587 from the 2013 CDBG grant program and $650,000 in off-site improvements to include sidewalks and waterline improvements. The total project cost is $13,781,073 which requires an additional $39,054 for off-site improvements.
Presented by:
Michael Fischer, Deputy City Administrator