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APPROPRIATION <br />Affordable Housing Project Funds to <br />Piedmont Housing Alliance and Habitat for Humanity <br />WHEREAS, City Council established the Housing Initiatives Fund to give <br />assistance to non-profit groups that provide affordable housing in our community; and <br />WHEREAS, Piedmont Housing Alliance has requested funding for two (2) <br />projects ($50,000 for renovation of 223 Fourth Street, S.W. and $169,000 for the Vimita <br />Court Apartments at 800 Rose Hill Drive), and Habitat for Humanity has requested <br />funding of $220,000 for new home construction (10 homes) in the Fifeville and Belmont <br />neighborhoods; and <br />WHEREAS, the Housing Advisory Committee recommends that City Council <br />approve these funding requests, totaling $439,000, from available funds in the Housing <br />Initiatives Fund (HIF) and the Charlottesville Affordable Housing Investment Program <br />(CAHIP); and <br />WHEREAS, the Director of Neighborhood Development Services also <br />recommends fully funding the above -referenced funding requests; now, therefore <br />BE IT RESOLVED by the Council of the City of Charlottesville, Virginia that <br />• the following amounts shall be transferred, as follows: <br />Amount Organization Proiect From SAP Account(s) <br />$ 50,000 Piedmont Housing Alliance 223 4`h Street, SW P — 00439 (CAHIP) <br />$169,000 Piedmont Housing Alliance Virnita Court P — 00126 (HIF) <br />$220,000 Habitat for Humanity 10 New Homes P — 00126 (HIF) <br />BE IT FURTHER RESOLVED that the transfer of $169,000 in funds to <br />Piedmont Housing Alliance (PHA) for the Vimita Court project is conditioned upon <br />compliance with the terms of the proposal letter dated March 22, 2007 (a copy of which <br />is attached hereto); and <br />BE IT FURTHER RESOLVED that the transfer of $220,000 to Habitat for <br />Humanity is conditioned upon compliance with the terms of the proposal letter dated <br />May 18, 2007 (a copy of which is attached hereto), including the requirement that each of <br />the new homes be sold to residents of the City of Charlottesville. <br />Approved by Council <br />August 6, 2007 c of City Council <br />• <br />