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Commission approves developers' additions and redevelopment rate updates; housing grants oversubscribed
Summary
Council approved adding parcels and developers to an existing development agreement and advanced an ordinance tied to a redevelopment rate; staff said residential grant funds are effectively exhausted and proposed transferring adjacent program funds to reimburse infrastructure costs for a neighborhood project.
Council members approved administrative actions to add parcels and developers to an existing development agreement and to proceed with a redevelopment ordinance (referred to in the meeting as Ordinance 4051). Staff said the change will let multiple new housing parcels be handled under a single agreement as new houses are built, and cautioned that if different investors appear later the council may have to revisit approvals.
On housing grants, staff reported the city is "virtually out of money" for residential Type 1 and Type 2 grants and has limited funds left for landlord programs. For a specific neighborhood project on the corner of Matt and Russell, staff proposed reimbursing developers for half the infrastructure cost now from an adjacent program fund to get water and sewer up to code so homebuilding can proceed.
Council discussed stormwater and right-of-way access questions tied to the redevelopment parcels. For Ordinance 4051, staff noted only the ordinance number had changed and recommended proceeding with the redevelopment-rate approval. A motion to approve the ordinance and the parcel additions passed on roll call; commissioners voted affirmatively during the recorded roll calls.
Next steps: staff will process the parcel additions under the consolidated agreement, reimburse infrastructure per the approved transfer timing, and return to council if future parcels involve materially different investors or terms.
