Title
Affordable Housing Contract for Sale and Purchase - Housing Trust Group, LLC (B)
This item involves consideration of a proposed contract with Housing Trust Group, LLC for City owned property located at 612 SE 21st Street (Parcel ID # 11339-000-000), adjacent to the Cornerstone project.
Explanation
In October, 2020, Housing Trust Group LLC participated in the Local Government Area of Opportunity Funding process administered by the City of Gainesville in order seek a local contribution for its proposed affordable housing project, Village Estates, to be located in east Gainesville, adjacent to the Cornerstone Redevelopment Project.
Although the project did not receive the SHIP Affordable Housing Advisory Committee’s number one ranking, nor the endorsement of that ranking by the City Commission, Housing Trust Group, LLC is still interested in pursuing a similar affordable housing project on the subject property.
The site is roughly 4.46 acres in size and Housing Trust Group, LLC is seeking to assemble this property with adjacent property to the west. Preliminary input was provided to the Housing Trust Group, LLC site development team on the Village Estates conceptual layout.
This proposed Contract for Sale and Purchase follows the revised provisions of the City’s Real Property Policies with regard to solicitations involving affordable housing proposals. Section 2(b) of the Policy includes a provision which supports the disposition of larger sites of City owned property to address the community’s affordable housing needs and to facilitate the dispersal of low-income, very low-income and extremely low-income housing units.
Multi-family/mixed-use properties must be disposed of in a competitive manner. However, the City Commission may determine that a non-competitive disposition of multi-family/mixed-use property is the best option to achieve the greatest public benefit in the provision of permanent affordable housing, and therefore it may consider o...
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