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CONTRACT K-2021-66: A CONTRACT BY AND BETWEEN THE CITY OF NORMAN, OKLAHOMA, NORMAN AFFORDABLE HOUSING CORPORATION, INC., AND NORMAN COMMUNITY HOUSING DEVELOPMENT 2015, INC. IN THE AMOUNT OF $653,820 AS AGREED UPON UNDER THE FYE 2021 HOME INVESTMENT PARTNERSHIP PROGRAM TO CONSTRUCT THREE (3) THREE-BEDROOM SINGLE FAMILY STRUCTURES LOCATED AT 112 AND 114 WEST JOHNSON STREET AND 815 NORTH STEWART AVENUE TO BE USED FOR AFFORDABLE HOUSING IN THE CITY OF NORMAN.
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BACKGROUND: This Written Agreement is between the City of Norman, Norman Affordable Housing Corporation, Inc. and Norman CHDO 2015, Inc. to construct three single family structures located at 112 and 114 W. Johnson, and 815 N. Stewart, Norman, OK. HOME funding is available in the amount of $535,685 (budgeted in FYE 2014, FYE 2017, and FYE 2018) along with HOME Community Housing Development Organization (CHDO) funding (budgeted in FYE 2020 and FYE 2021) to the Norman CHDO 2015, Inc. in the amount of $118,134 for a total investment by the City of Norman of $653,820. The City of Norman funds are to be combined with an investment of $112,125 from Norman Affordable Housing Corporation, and $3,855 of funds previously expended by Norman CHDO 2015 for a total project cost of $769,800.
DISCUSSION: The three, three-bedroom units will be constructed by Norman CHDO 2015, Inc. in partnership with Norman Affordable Housing Corporation to expand the availability of affordable housing to the community at large. The project will consist of three single family structures located at 112 and 114 W. Johnson, and 815 N. Stewart, Norman, OK. Each unit contains approximately 1,600 sq. ft. of living area exclusive of a single car garage, and includes standard amenities. Although not adopted yet, each structure meets the proposed Phase One criteria of the City of Norman Visitability Ordinance. Each of these single family, vacant lots are currently owned by Norman Affordable Housing Corporation, Inc. and will be donated ...
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