title
CONTRACT K-1920-18: A CONTRACT BY AND BETWEEN THE CITY OF NORMAN, OKLAHOMA, AND NORMAN AFFORDABLE HOUSING CORPORATION IN THE AMOUNT OF $100,000 FOR ACQUISITION OF PROPERTY TO BE UTILIZED AS AFFORDABLE HOUSING.
body
BACKGROUND: On May 14, 2019 the Norman City Council approved the fiscal year ending June 30, 2020 (FYE20) Action Plan for the Community Development Block Grant (CDBG) and HOME Investment Partnerships Programs. Included in this Action Plan was an activity to provide a total of $100,000 for property acquisition to the Norman Affordable Housing Corporation, Inc. (NAHC). These funds were designated for acquisition of property for affordable housing. The FYE19 Action Plan contained an identical item to provide $100,000 also to Norman Affordable Housing Corporation for acquisition of property for the development of affordable housing.
Since the Spring of 2013 when the CDBG Policy Committee realigned the program priorities to focus on affordable housing, there have been four projects, consisting of twenty eight units, that have been completed in partnership with the Norman Affordable Housing Corporation. Twice, Requests for Proposals have been administered to solicit other entities having an interest in participating, with no other proposals received other than from NAHC. Each year during the development of the Annual Action Plan, the CDBG Policy Committee reviews documentation from each of the developments that have been completed.
DISCUSSION: Discussions pertaining to the long standing, beneficial partnership between the City of Norman and the Norman Affordable Housing Corporation, Inc. resulted in the CDBG Policy Committee recommending that $100,000 of funding be designated within the FYE20 Action Plan to the Norman Affordable Housing Corporation, Inc. for additional acquisition of property to be utilized for affordable housing. This line item designation was included as such within the FYE20 Action Plan and subsequently approved by the Norma...
Click here for full text