DATE: May 2, 2019
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Vernon Gerth, Assistant City Administrator - Community/Economic Development
Tom Marsh, Interim Building and Neighborhood Services Director
Kathleen Sauseda, Housing Development Coordinator
SUBJECT:
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Consideration of Resolution 2019 - 36, A Resolution Providing A Policy For The Reimbursement Of Road Impact And Parkland Impact Fees Paid By The Franklin Housing Authority (FHA) And The Offset Of Future Road Impact And Parkland Impact Fees For The Construction Of Housing For Low Income Families By The Franklin Housing Authority (FHA). (COF No. 6617/AP # 128054) (04/23/19 WS)
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Purpose
The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning a request from the Franklin Housing Authority (FHA) to be reimbursed for Road Impact and Parkland Impact Fees paid to obtain building permits for the Chickasaw Senior Housing project (COF #6617/AP # 128054). The proposed resolution would also authorize these fees to be offset for future developments constructed by FHA that provide housing for families whose income is at or below 80 percent of the median income level for the Greater Nashville Metropolitan Statistical Area (MSA).
Background
In conjunction with obtaining the building permit for construction of the Chickasaw Senior Community, FHA paid road impact fees of $251,184 and parkland impact fees of $228,582. The total of these two fees is $479,766. The Chickasaw project is an $11 million project to construct 48 new dwelling units for senior residents. FHA is using a variety of funding sources including grants from the THDA Housing Trust Fund and Low-Income Housing Tax Credits (LIHTC) which require maintaining rental rates in the affordable range for 15 years in accordance with U.S. Department of Housing and Urban Development (HUD) requirements.
Last summer, FHA also requested assistance from the ...
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