HomeMy WebLinkAbout~Master - Urban Revitalization Program Addition of Affordable Housing Component RESOLUTION NO. 00-077
RESOLUTION APPROVING CHANGES TO THE
URBAN REVITALIZATION PROGRAM
BY ADDING AN AFFORDABLE HOUSING COMPONENT
FOR THE CITY OF AMES,IOWA
WHEREAS, staff was directed by the City Council to develop a criteria matrix for an
affordable housing component to the Urban Revitalization Program; and,
WHEREAS, the portion of the Multiple-Family Residential Criteria Matrix regarding
Affordable Housing would be an additional category under which an applicant could meet the
Optional condition; and,
WHEREAS, under this Optional condition, the availability of affordable units would be
based on the tax schedule chosen, and if this required Affordable Housing Optional condition is
chosen, then there would be no additional Optional conditions to be met; and,
WHEREAS,the length of the schedule chosen would be the length that the applicant would
have to fulfill the 20%requirement for the low- and moderate-tenant occupancy, and,
WHEREAS,the requirements must be met under the Affordable Housing Optional condition
or a payback of the tax abatement would be required.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the inclusion of an Affordable Housing component under the Multiple-Family Residential
Criteria Matrix, as proposed by staff, is hereby approved.
ADOPTED THIS 7th day of March, 2000.
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Wirth
Seconded by: Quirmbach
Voting aye: Campbell, Cross, Goodhue, Hoffman, Quirmbach, Wirth
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 7th day of March, 2000.