Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Housing Development topic
No spam. Unsubscribe anytime.
Commission approves $220,000 HOME-ARP allocation for Carroll Street townhomes
Summary
The Albany City Commission voted to allocate roughly $220,000 in remaining HOME-ARP funds to MP Organization LLC to complete a 32-unit townhome development at 108 South Carroll Street, preserving 13 affordable units under a 15-year affordability period and approving repayment/forgiveness terms consistent with the original agreement.
The Albany City Commission on Sept. 2 approved a resolution authorizing an additional $220,000 from HOME-ARP funds to MP Organization LLC to help complete a 32-unit townhome project at 108 South Carroll Street.
Developers told the commission the project was re-scoped from an earlier plan for smaller duplexes and an eight-unit Hallmark prototype into a larger 32-unit development to serve residents at greatest risk of homelessness alongside market-rate tenants. Staff and the developer said the change was approved in the city’s allocation plan for HOME-ARP funding and that rising costs—driven in part by a design change from above-ground to underground stormwater retention and broader supply-chain and weather-related delays—created a shortfall of about $220,000.
A city staff presenter said the HOME-ARP funding carries a 15-year affordability-monitoring requirement under HUD programs; in this project 13 of the 32 units will be monitored as affordable during that period. Staff also described the proposed funding terms: 50% of the additional allocation would be repaid to the city and 50% would be forgiven once the project is completed to the city’s satisfaction, consistent with the original agreement.
Developer remarks described construction progress and timing: "we are targeting having this completed, by the December and start a full lease up, in, January," and noted that three of four buildings are up and that exterior work and window shipments are underway. The presenter also described façade and appliance upgrades and said Phoebe Putney would help sponsor and maintain a community garden enabled by the underground retention design.
A commissioner moved the resolution, a second was recorded, and the clerk called the roll; the transcript records all present commissioners voting in favor and the mayor voting yes. The special-call portion of the meeting was adjourned after the vote.
What happens next: staff will execute the allocation under the same monitoring and repayment/forgiveness terms as the original agreement and MP Organization will continue construction toward the presenters’ stated targets, with staff monitoring compliance under HUD requirements.
