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Meeting Date: February 12, 2014
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Commission, Board
or Committee: Click here to enter date.
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Staff Contact:
Barbara Garcia
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PW Committee or L&F
Committee: L&F
DATE February 12, 2014
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Petitioner: Local Governing Body Approval for
Fortino’s Rapid Creek II Project
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City Council 1st
Reading: Click here to enter date.
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Location: Community Development
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City Council 2nd
Reading: Click here to enter date.
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Agenda Title:
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City Council approval and
authorization for the Mayor to sign the Local Governing Body Approval form
(Exhibit 3) for Fortino’s Rapid Creek II project.
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Summary:
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Rapid Creek
II project is 24 newly constructed units of two, three and four bedroom units
for low income households. Target for these units are: 54.2% (13 units) at
60% AMI; 33.3% (8 units) at 50% AMI; 8/2% (2 units) at 40% AMI; and 4.2% (1
unit) at 30% AMI.
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Funding Source
& Fiscal Impact (if applicable):
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HOME Funds and Low
Income Housing Tax Credits
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Recommendation:
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Notes: Staff
recommendation is for Council support of the project and approval for the
Mayor to sign the application support letter.
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Options:
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Click here to enter text.
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Attachments &
Links:
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City
of Rapid City Local Governing Body Support Letter
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Click here to enter text.
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