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Council amends Economic Improvement Corporation grant agreement with Habitat for Humanity to allow earlier infrastructure payment
Summary
The council approved an amendment to an EIC grant agreement with Habitat for Humanity to allow the second tranche of infrastructure funding to be made available sooner so contractors can complete work, and added resale provisions if Habitat later reacquires homes.
The City Council on April 22 approved an amendment to an Economic Improvement Corporation (EIC) grant agreement with Habitat for Humanity to adjust the timing of infrastructure payments for the Mariposa subdivision and to add resale restrictions tied to the EIC covenant.
Council member discussion followed a request to pull the item from the consent agenda. Council member Horner said the change is intended to make funds available so Habitat’s contractors can complete about $2.26 million in infrastructure work expended by June, rather than forcing Habitat to wait for a second tranche until October under the original schedule.
City staff described the technical change as an administrative adjustment that moves cash availability so contractors are paid in the project timeframe. Staff also said the amendment includes a provision that if Habitat were to reacquire homes, those units would be subject to EIC resale restrictions limiting price increases, thereby preserving affordability in the neighborhood’s covenants and restrictions.
The council approved the amendment; a motion carried with a second and the mayor declared the item passed. The record shows the grant and its amendment were discussed during the consent agenda and then handled separately after a public question had been raised.
