Title
Amend Ordinance S-41709 for Redevelopment of Residential Properties in South Phoenix Village Neighborhood Initiative Area (Ordinance S-47275)
Description
Request to authorize the City Manager, or his designee, to amend Ordinance S-41709 to extend the original five-year contract term for the South Phoenix Village Neighborhood Initiative Area Single-Family Infill Redevelopment contract with FSL Real Estate Services (FSL RES) for an additional approximately seven months through Aug. 31, 2021. Further request authorization for the City Treasurer to accept and the City Controller to disburse all funds related to this item.
Report
Summary
In May 2015, Phoenix City Council approved the Neighborhood Services Department (NSD) request to enter into contract with FSL RES, under Ordinance S-41709, for construction and completion of 121 homes in an amount not to exceed $5,368,222. In March 2018, Council approved a request from NSD to amend Ordinance S-41709, through Ordinance S-44320, to fund the construction and total development related costs for the South Phoenix Village (SPV) single-family detached infill project community using available program income under the Neighborhood Stabilization Program (NSP). NSP's available program income funds are generated from other projects, as well as from the sales of the new SPV homes. Amending Ordinance S-41709 to extend the contract term will allow for the sale of the final SPV Infill Project home, scheduled for Feb. 10, 2021; and all final project construction payments and administrative activities.
Contract Term
The amended contract term will reflect an effective date of Feb. 10, 2016 and an end date of Aug. 31, 2021.
Financial Impact
There is no impact to the General Fund; this project is funded by the U.S. Department of Housing and Urban Development (HUD) NSP funds.
Location
The infill project boundaries are from Broadway to Roeser roads, between 24th and 32nd streets.
Council District: 8
Department
Responsible Department
This item is submitted by Deputy City Manager Inger Erickson and the Neighborhood Services Department.