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Council approves affordable-housing preservation and new developments including purchase of Tivoli Apartments
Summary
Council authorized up to $2.25 million in affordable housing bond funds to acquire and preserve Tivoli Apartments as income-restricted housing, approved a $2.02 million subsidy for a new 84-unit income-restricted development using modular construction, and approved loan forgiveness to enable refinancing for a Homeport preservation project.
Columbus City Council approved multiple housing measures aimed at preserving and creating affordable units.
The council authorized an appropriation of up to $2,250,000 from the Affordable Housing Bond Fund for the acquisition and preservation of Tivoli Apartments in Harrison West. According to the record, the 88-unit property will be redeveloped with rents restricted to no more than 60% of area median income; council members described the action as preservation in a walkable neighborhood near downtown and public transit. The ordinance includes reimbursement authority for expenditures incurred before establishment of a purchase order.
Council also approved forgiveness of principal and accrued interest on a home loan held by KHK/CHP Kimberly Inc. (Homeport/Columbus Housing Partnership) totaling approximately $2,120,000 to enable refinancing and to preserve affordability with monitoring by the Ohio Housing Finance Agency for an additional 30 years.
Separately, the council approved a $2,020,000 grant agreement with Reserve at Maryland Avenue LLC to support development of 84 income-restricted units on the East Side. The project will use modular construction through Connect Housing Blocks, a local modular manufacturer; council members noted factory-built units can reduce waste and shorten construction timelines.
Each housing ordinance passed on roll call during the housing, homeless and building committee portion of the meeting.
