Title
Rental Rehabilitation Program Project Award (Ordinance S-48279)
Description
Request to authorize the City Manager, or his designee, to enter into necessary loan agreements with the property owner, Steven Germain, and other agreements as necessary, for the completion of construction activities at 1027 E. Dunlap Ave. under the Rental Rehabilitation Program. Further request to authorize the City Controller to disburse funds up to $200,000.
Report
Summary
In March 2021, the City Council approved expanding the Rental Rehabilitation Program to facilitate the preservation of single- and multi-family rental properties. The program focuses on addressing structural, safety, and health related standards to ensure the property is habitable and maintains its affordability. In this manner, the Rental Rehabilitation Program supports the Housing Phoenix Plan's vision of utilizing innovative and solution-oriented policies to address housing challenges citywide.
Eligible properties include single- and multi-family rental properties of up to 24 units, occupied by, or set aside for, low- and moderate-income tenants. Financial assistance of up to $40,000 per unit, with a maximum project award of $400,000, is available to eligible property owners to complete renovation projects on their deteriorating property.
On a monthly basis, staff analyze applications for eligibility and completeness before the review panel's application evaluation; the panel is comprised of City staff and external affordable housing/rental property management industry experts, and is tasked with recommending project awards based on owner capacity, property management and management plan, project readiness, and financial feasibility. The recommendation for Rental Rehabilitation project award is for up to $200,000 to improve a five-unit multi-family property located at 1027 E. Dunlap Ave.
Financial Impact
This program is funded by the Community Development Block Grant; there is no impact to the General Fund.
Concurrence/Previous Council Action
The Community and Cultural Investment Subcommittee recommended approval of this item on Jan. 5, 2022, by a 4-0 vote.
Location
1027 E. Dunlap Ave.
Council District: 3
Department
Responsible Department
This item is submitted by Deputy City Manager Gina Montes and the Neighborhood Services Department.