City of Alexandria, Virginia
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MEMORANDUM
DATE: NOVEMBER 2, 2016
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: MARK B. JINKS, CITY MANAGER /s/
DOCKET TITLE:
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Consideration of a Loan Request from the Alexandria Redevelopment and Housing Authority (ARHA) for the Redevelopment of Ramsey Homes and for Adoption of a Resolution Designating the Ramsey Homes Site a Revitalization Area Which Will be Considered for Council's Action Following Public Hearing on the Related Land Use Approvals.
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ISSUE: Consideration of (1) a loan of up to $1.1 million to the Alexandria Redevelopment and Housing Authority (ARHA) to cover costs for certain elements of the Ramsey Homes redevelopment and (2) a resolution designating the Ramsey Homes site a revitalization area pursuant to the Virginia Code.
RECOMMENDATION: Contingent on land use approvals to be considered by City Council, that City Council:
(a) Approve a permanent loan to ARHA of up to $1,100,000 for redevelopment of Ramsey Homes which loan is to be funded from proceeds of ARHA's future repayment of the City's 2008 Glebe Park loan;
(b) Pass a resolution designating the Ramsey project site a revitalization area pursuant to Section 36-55.30:2.A of the Virginia Code; and
(c) Authorize the City Manager to execute documents related to the loan as well as those evidencing City support for ARHA's upcoming application for low income housing tax credits.
BACKGROUND: ARHA has requested a City loan of up to $1.1 million to support offsite infrastructure improvements required to enhance its application for land use approvals to enable the proposed redevelopment of the existing 15-unit Ramsey Homes public housing development into a mixed income community (Attachment 1). ARHA's proposal includes 15 new replacement housing units per Resolution 830 that are affordable to households with incomes up to 30% of the Area Median Inc...
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