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HomeMy WebLinkAbout14417RESOLUTION NO. 14417 A RESOLUTION AUTHORIZING THE CITY OF PUEBLO TO GRANT WAIVERS OF FEES RELATING TO WASTEWATER UTILITY TAP AND PLANT INVESTMENT FEES TOTALING A MAXIMUM OF $45,850 FOR “THE RIGHT PLACE” TRANSITIONAL HOMELESS HOUSING PROJECT LOCATED AT 1619 BONFORTE BOULEVARD BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. The City shall grant a waiver of wastewater utility tap and plant investment fees totaling a maximum amount of $45,850 for the Cardinal Capital Management, Inc. “The Right Place” transitional homeless housing project located at 1619 Bonforte Boulevard. SECTION 2. The officers and staff of the City are authorized and directed to perform any and all acts consistent with this Resolution to implement the policies and procedures described herein. SECTION 3. This Resolution shall become effective immediately upon passage and approval. INTRODUCED: May 26, 2020 BY: Ed Brown MEMBER OF CITY COUNCIL APPROVED: PRESIDENT OF CITY COUNCIL ATTESTED BY: CITY CLERK PASSED AND APPROVED: June 8, 2020 City Clerk’s Office Item # Q-1 BACKGROUND PAPER FOR PROPOSED RESOLUTION COUNCIL MEETING DATE: May 26, 2020 TO: President Dennis E. Flores and Members of City Council CC: Nicholas A. Gradisar, Mayor VIA: Brenda Armijo, City Clerk FROM: Scott Hobson, Acting Director of Planning and Community Development SUBJECT: A RESOLUTION AUTHORIZING THE CITY OF PUEBLO TO GRANT WAIVERS OF FEES RELATING TO WASTEWATER UTILITY TAP AND PLANT INVESTMENT FEES TOTALING A MAXIMUM OF $45,850 FOR “THE RIGHT PLACE” TRANSITIONAL HOMELESS HOUSING PROJECT LOCATED AT 1619 BONFORTE BOULEVARD SUMMARY: Attached is a Resolution authorizing the City of Pueblo to grant waivers of fees for wastewater utility tap and plant investment fees totaling up to $45,850 requested by Cardinal Capital Management, Inc. for “The Right Place” transitional homeless housing project located at 1619 Bonforte Boulevard. PREVIOUS COUNCIL ACTION: None. BACKGROUND: Cardinal Capital Management, Inc. is developing a 35-unit apartment complex to be constructed at 1619 Bonforte Boulevard that will provide housing for homeless, qualifying veterans and other qualifying individuals. The project titled, “The Right Place”, is being funded partially by equity through housing credits awarded by the Colorado Housing and Finance Authority (CHFA). Cardinal Capital is also applying to the Colorado Department of Local Affairs for homeless housing assistance grant funding. This permanent supportive housing project will be the first of its kind in Pueblo. As an incentive to reduce the overall cost for the construction of this Project, the waiver of fees for wastewater utility tap and plant investment fees totaling up to $45,850 was requested by Cardinal Capital Management, Inc. FINANCIAL IMPLICATIONS: The Wastewater Utility will not receive tap and plant investment fees for this transitional homeless affordable housing project that will total a maximum of $45,850. The Project will be providing 35 housing units for transitional homeless individuals within the community that would otherwise be reliant upon other homeless facilities that the City is assisting to operate. BOARD/COMMISSION RECOMMENDATION: None. STAKEHOLDER PROCESS: Not applicable to this Resolution. ALTERNATIVES: If this Resolution is not approved, the Cardinal Capital Management, Inc., utility infrastructure cost for this Project will likely significantly delay or make the Project financially unfeasible. In addition, the applicant is applying for Colorado Department of Local Affairs Homeless Housing funding that could be jeopardized without financial participation by the City. RECOMMENDATIONS: Approve the Resolution. Attachments: Proposed Resolution Request for Waiver of City Fees from Cardinal Capital Management, Inc.