Councilors debated whether to advance authorization for a shelter-rent agreement that would preserve the city’s ability to negotiate terms for a planned 75-unit affordable-housing project if developers secure Low-Income Housing Tax Credit (LIHTC) funding. Matt Ojek, commissioner of assessment, told the council that Southside Renaissance “did not file its HCR application on Thursday,” while another project team, BLD, did file for the separate project at 680 South Avenue.

Ojek said the authorization would legally allow the city to negotiate and draft a shelter-rent agreement once a sponsor: a) applies, b) receives approval, and c) moves toward closing. He described the authorization as a mechanism to “lock up this property” so the city can secure favorable terms if the developer later receives funding.

Councilors expressed concerns about advancing the item without confirmation of an HCR filing and asked for more time to review contract language. One councilor proposed holding the matter for another cycle; staff indicated a one- or two-week hold would not delay the project materially. Council discussion also referenced a prior history of applications for the site and the land bank’s control of the property.

Staff noted typical shelter-rent terms used with comparable projects: a 15‑year option and either a per-unit fee (commonly cited as about $5.25 per unit) or 10 percent of gross revenue, whichever is greater; finance staff prefer a fixed per-unit amount for administrative simplicity. No formal council vote or final authorization was recorded in the transcript; members placed the item on hold to clarify application status and contract language.