DATE: July 10, 2018
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Vernon Gerth, Assistant City Administrator - Community and Economic Development
SUBJECT:
title
Consideration of Ordinance 2018-34 AS AMENDED, To Be Entitled: "An Ordinance Authorizing Certain Incentives be Provided to the Franklin Housing Authority in Support of Developing a 48-Unit Multi-Family Senior Housing Complex On Chickasaw Place." (6/12/18 WS, 07/10/18 BOMA 1st Reading 6-2, 8/14/18 BOMA 2nd Reading 6-2) THIRD AND FINAL READING
body
Purpose
The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning a request by the Franklin Housing Authority to have the Road and Parkland Impact Fees waived or offset, $150,000 of Community Development Block Grant (CDBG) Funds, and a new or revised PILOT agreement of $50 per unit applied to the Chickasaw Place 48-unit Senior Housing Complex.
Background
Prior to commencing with their redevelopment initiative in 2012, the Franklin Housing Authority (FHA) operated 297 public housing units spread across eight different parcels totaling 56 acres. These dwelling units were more than 50 years old and in need of updating. The FHA has undertaken an ambitious redevelopment plan designed to replace the existing housing units with more modern homes. Through redevelopment of these parcels, additional affordable housing units and usable open space that comply with the City's development standards and compliment the surrounding neighborhood will also be achieved.
In 2012 the FHA commenced work on the Reddick Phase I project, a 49-unit Reddick Senior Housing Complex. A few years later FHA commenced work on an additional 65 single-family units in Reddick Phase II. These 114 units replaced the existing 44 single-family units that were initially developed in this area in the 1960's.
The proposed Chickasaw 48-unit Senior Housing Complex does not include the demo...
Click here for full text