Title
Voluntary Acquisition of Real Property for Affordable and/or Mixed Income Housing Located North of Northwest Corner of Van Buren Street and 5th Avenue (Ordinance S-47121)
Description
Request to authorize the City Manager, or his designee, to use federal Community Development Block Grant funding to acquire all real property and related property interests by voluntary acquisition within the City's appraised value, plus any usual and customary closing costs. Further request authorization to provide relocation assistance and benefits as federally mandated, and to execute agreements to minimize relocation costs and allow occupants time to relocate, as may be necessary to and in furtherance of this acquisition. Further request authorization for the City Controller to disburse all funds related to this item. There is no impact to the General Fund.
Report
Summary
The Housing Department in partnership with the Neighborhood Services Department (NSD) is seeking authority to voluntarily acquire two parcels (314 and 318 N. 5th Avenues) located north of the northwest corner of Van Buren Street and 5th Avenue through NSD's Strategic Acquisitions Program using Community Development Block Grant (CDBG) funds. This subject site would be acquired for the future development of affordable or mixed income housing within downtown Phoenix.
On June 16, 2020, Council approved the Housing Phoenix Plan which has a goal of creating or preserving 50,000 homes by 2030. The proposed acquisition aligns with the City Council approved Housing Phoenix Plan. This activity would be in alignment with the seventh policy initiative to expand affordable housing through preservation efforts. One such effort includes land banking as an option to procure land for the development of affordable housing or mixed income housing. The proposed acquisition is an innovative employment of the Land Banking policy initiative listed in the Housing Phoenix Plan. The Housing Department will return to City Council at a later date to receive input prior to proceeding with the redevelopment process for the subject site.
Financial Impact
There is no impact to the General Fund; funding is available in the federal Community Development Block Grant program.
Concurrence/Previous Council Action
The Housing Phoenix Plan was unanimously approved by City Council at the June 16, 2020 Policy meeting.
Location
North of the northwest corner of Van Buren Street and 5th Avenue.
Council District: 7
Department
Responsible Department
This item is submitted by Deputy City Manager Inger Erickson and the Housing and Neighborhood Services departments.