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HomeMy WebLinkAboutMN-IURANI-2010-11-22 108 East Green Street Ithaca, New York 14850 (607) 274-655 DRAFT MINUTES Neighborhood Investment Committee Council Chambers, City Hall 3:30 p.m., November 22, 2010 SPECIAL MEETING Present: `T. Farrell, S. Cummings, Fernando de Aragón, T. Halpert Staff: J. Cornish, S. Kittel, A. Vargo Guest: Paul Mazzarella, Executive Director of Ithaca Neighborhood Housing (INHS) Other: Caleb Thomas I. Call to Order The meeting was called to order by Chairperson Farrell at 3:35 a.m. II Additions to or deletions from the agenda - None III. Public comment (3-minute maximum per person) – None IV. Discussion of INHS - 20010 # 3 - 100 W. Seneca Street - Possible Resolution Paul Mazzarella updated the Committee on the on changes made in the plans for 100 W. Seneca Street. Mazzarella went over the budget he handed out. INHS is requesting $800,000 in HODAG money with a low interest loan of 2% with a 30 year loan. There will not be any tax credits, because of changes at the State level. The State didn’t like the expensive building. They need to bring in non- State money. Mazzarella went over the rent schedule, Section8 and L/M Income levels. Re-zoning of this area, creating housing variations have increased the value of the property. Mazzarella explained that there have been many changes and will they probably continue until the application is actually accepted that locks them into those plans. The new plans are now for 52 affordable units. Any tax credits will dictate rent changes. If a basement were to be added it would cost and extra $400,000. There was concern expressed that the project seemed to be exchanging quality was for quantity. He has found out that renting to a special population will bring in extra points from the State. If INHS did this they already have a proven interviewing system already in place. He stated that if a unit was to be rented for special needs person, and that person leaves, INHS must continue to rent to the same population. There are three categories for special needs groups: homeless, mental and physical disabilities. INHS is the developer of this project; they will be hiring an on-site construction manager. Staff member Scott Reynolds will be the project manager. Ithaca Urban Renewal Agency NI Special Meeting Minutes December 22, 2010 Page 2 of 2 He also stated that there will be a staffed office during the day, there will also be a maintenance person after the site is built. They do not want to add a resident manager to the staff. There was discussion on tax credits and recoupment of money. Within this tax credit program there can be no public meeting room. Also discussed was an extra space for a shop if there could not be a meeting space. Mazzarella stated the need to look to possible future changes and prepare now to be able to make changes at a later date. Mazzarella added that INHS would like to have a commitment letter from the IURA by February. Bohn stated that this needs to be an action item at the January Agency meeting. Cornish left the meeting at 11:30 a.m. Mazzarella was asked to attend the Agency meeting on December 17. Also discussed was whether the commitment is valid because of the changes in the project. The Committee discussed the pros and cons of this project Pros • This Committee prefers mixed income and mixed population and long term leases with the possibility of purchasing the unit at a later time. • Committee members discussed the pros and cons on this project. • They found the building design was good, a convenient location, a much needed facility, INHS has good projects and good management and unrestricted funds. Cons • There is a need for greater income mix • No feasibility and length of time • Limited tax credits • High cost to IURA will tie up HODAG money for 15 years. There was also a discussion about the need to review the communication with the Agency and other Committees. V. Next Meeting Date - December 10, 2010 VI. Motion to Adjourn The meeting was recessed at 6:40 p.m. until the next NI meeting on December 10, 2010.