Title
Approval of a Resolution Authorizing the 2021 Home Fund Grant Agreement with the Low-Income Housing Institute for $150,000
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Move to approve the Resolution Authorizing the 2021 Home Fund Grant Agreement with the Low-Income Housing Institute for $150,000.
Report
Issue:
Whether to approve the Resolution Authorizing the 2021 Home Fund Grant Agreement with the Low-Income Housing Institute for $150,000.
Staff Contact:
Darian Lightfoot, Director of Housing and Homeless Response, 360.280.8951
Presenter(s):
None - Consent Calendar Item.
Background and Analysis:
On April 13, 2021, the Olympia City Council conditionally approved the Home Fund Advisory Board's recommendation to provide funding to the Low-Income Housing Institute (LIHI) $150,000 to develop low-income housing.
LIHI plans to construct 63 more units in phase two at 2828 Martin Way. Their phase one is already constructed which created 65 apartments and a 60-bed low-barrier shelter.
Phase two will dedicate 32 units for households at or below 30 percent AMI and 31 units for those below 50 percent AMI.
LIHI is set to close financing on the project in early May with construction beginning shortly after. Construction should take approximately 14 months.
Climate Analysis:
Unity Commons Phase two is being constructed on the same parcel as the first phase. That means this project is adding over 120 units of housing where just down the street, a single-family home is being inhabited on a similarly sized lot. This project optimized land use to address the urban sprawl and support the use of public transit, being on a bus line of a major transit corridor.
Equity Analysis:
This project will offer residency to low-income community members with often the highest barriers to housing. The data shows that people with disabilities and seniors are disproportionately more impacted by chronic homelessness. T...
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