Fiscal Note
The proposed resolution approves the choice of developer for the Youth-Centered Housing Development at 1202 S. Park St. The chosen developer will receive up to $2.0 million of American Rescue Plan Act (ARPA) money set aside in the 2022 Adopted Capital Budget for this project (Munis project 13776), contingent upon the developer’s satisfaction of the conditions listed by December 18, 2023. No additional City appropriation required.
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Approving the selection of JW Realty Investments, Inc, or an affiliate LLC, as part of a Community Development Division-led Requests for Proposals process, as the developer with whom City staff will negotiate an award agreement for a Youth Centered Housing Development at 1202 S Park Street (District 13).
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WHEREAS, on December 5, 2017, the Common Council adopted RES-17-49685 to acquire 1202 S. Park Street to expand housing development opportunities, specifically for populations experiencing or at risk of homelessness; and,
WHEREAS, the City’s 2022 Adopted Capital Budget directed the Community Development Division to pursue a youth-centered housing development, with units set aside for youth aging out of the foster care system and at risk of homelessness, using up to $2.0 million allocated from American Rescue Plan Act (ARPA) funds; and,
WHEREAS, on May 12, 2023, CDD issued a Request for Proposals (RFP) seeking proposals from development teams for a youth-centered housing project at 1202 South Park Street (the “Property”) ; and,
WHEREAS, in response to that RFP, CDD received three proposals: from JW Realty Investments, Inc., in partnership with Just Dane; from Youthful Savings Foundation, Inc., in partnership with Watersview Investments, Inc.; and from Northernstar Companies (which subsequently withdrew its proposal); and,
WHEREAS, the development teams made presentations of their proposals to members of the City’s Community Development Block Grant Committee, and to neighborhood residents; and,
WHEREAS, a review t...
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