HomeMy WebLinkAboutMN-IURANI-2015-12-11
108 East Green Street
Ithaca, New York 14850
(607) 274-655
MINUTES
IURA Neighborhood Investment Committee
December 11, 2015
I. Call to Order
The meeting was called to order at by Chair Tracy Farrell at 8:31. Present were T. Farrell,
Chair; Karl Graham, Vice‐chair; Teresa Halpert; Fernando deAragon; and Lynn Truame (staff).
II. Public comment
None.
III. Review of Minutes – November 2015
Moved by T. Halpert, seconded by K. Graham. Approved as written.
IV. New Business
Withdrawal of request for funds – 402 S. Cayuga Street
The committee discussed the letter, dated December 3, 2015, submitted by INHS withdrawing
their request for funding of the 402 South Cayuga Street project. The project has proven to be
financially infeasible at this time due to an unanticipated increase in the cost of construction
and the impact of the Tompkins County Assessor’s approach to assessing land trust
properties. The committee discussed the return of these 2014 HOME funds to the pool of
funds available in the upcoming 2016 round. Staff noted that we only have until July 31, 2016
to commit these funds or we will lose them. There was a general discussion of the difficulty of
constructing new homeowner projects in the City at this time. The committee expressed
support for the ongoing lawsuit, to which INHS is a party, concerning the assessment of land
trust properties. The committee discussed the disposition of the 402 South Cayuga Street
site. In their letter, INHS requested a window of up to 6 months within which to continue to
work out a feasible project for the site. Other possible approaches to the land would be to
offer it on the open market, or negotiate a sale with another buyer. There was strong support
for the creation of homeowner units on the site; this may require a different sponsor, such as
Habitat for Humanity, whose construction costs are significantly lower that INHS’. Staff was
instructed to approve INHS’ request and to inquire of both Habitat and Viridius whether they
would have an interest in, and ability to, develop affordable for‐sale units at the site.
Added to the agenda:
T. Farrell indicated that Paulette Manos was interested in joining the NI Committee. There
was unanimous support for her appointment. L. Truame will convey the committee’s request
to the Chair of the IURA.
Ithaca
Urban
Renewal
Agency
V. Old Business
None
VI. Motion to Adjourn
The meeting was adjourned by consensus at 9:25.