STRATEGIC PRIORITY: Economic and Neighborhood Vitality
AGENDA DATE: December 9, 2020
COUNCIL DISTRICT(S): 1
DEPARTMENT: Department of Sustainable Development and Construction
EXECUTIVE: Dr. Eric A. Johnson
______________________________________________________________________
SUBJECT
title
Authorize acquisition from Hotel Miramar, LLC, of approximately 35,133 square feet of commercially improved land located near the intersection of Fort Worth Avenue and North Plymouth Road for the COVID-19 Supportive Housing Project - Not to exceed $3,518,000.00 ($3,500,000.00, plus closing costs and title expenses not to exceed $18,000.00) - Financing: U.S. Department of Treasury - Coronavirus Relief Funds
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BACKGROUND
This item authorizes the acquisition from Hotel Miramar, LLC, of approximately 35,133 square feet of commercially improved land located near the intersection of Fort Worth Avenue and North Plymouth Road for the COVID-19 Supportive Housing Project. This property will be used for the purpose of providing COVID-19 supportive housing for persons experiencing homelessness. Future renovation and property enhancement funding may be necessary for this acquisition. The consideration is based on independent appraisals. Relocation benefits liability may apply with this transaction.
The City anticipates that 74 units will be made available for use by the City for supportive housing in the future as a result of this authorization.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On April 22, 2020, City Council authorized the acceptance of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) Coronavirus Relief Funds to aid the Coronavirus Disease 2019 (COVID-19) response throughout the city by Resolution No. 20-0644.
On June 17, 2020, City Council was briefed on the Coronavirus Aid, Relief and Economic Security Act (CARES) funds to facilitate assistance to eligible communities and households economically impacted by COVID-19.
City Council was briefed on the acquisition of this property for COVID-19 Supportive Housing for persons experiencing homelessness on December 2, 2020.
FISCAL INFORMATION
|
Fund |
FY 2021 |
FY 2022 |
Future Years |
|
U.S. Department of Treasury - Coronavirus Relief Funds |
$3,518,000.00 |
$0.00 |
$0.00 |
OWNER
Hotel Miramar, LLC
Ratnakar Mody, Sole Manager
MAP
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