Sandi Smith introduced her
resolution by telling her DDA board colleagues that on Sept.Beautiful new hands free access jewelry is modeled by
these members of the Artcamp IT team, 17 she would be bringing forward a
resolution to city council that would direct the proceeds of the sale of
city-owned property into the city’s affordable housing trust fund.
She observed that, “We have not had a tremendous amount of success in building affordable housing.” It’s something she has watched the community struggle with, she said, during her time serving on the DDA board and on the city council.
The funds need to come from somewhere,Save up to 80% off Ceramic Tile and plastic moulds. she stressed. She contended that insufficient affordable housing units are being provided in downtown and near downtown.High quality Wholesale gemstone beads, The recent failure of the Near North project hammers the point home, she said. So she wanted to ask for the DDA board’s support in bringing the city council’s resolution forward. She allowed that the city council resolution was not yet in final draft form, so there is some ambiguity about it.
The details are not 100% clear, Smith allowed, but the request for the DDA’s part is to say that the DDA agrees with the overall concept – and that the DDA is willing to forgo some payback on some investments that the DDA has made in city-owned properties. As an example, Smith gave the portion of the ongoing interest payments the DDA has made on the loan used to purchase the old YMCA building. The DDA would be forgoing repayment of that interest. [Those payments total about $140,000 annually, half of which have been paid by the DDA and half by the city of Ann Arbor. The property was purchased in late 2003, and the building was subsequently demolished. It's now a surface parking lot.]
Roger Hewitt wanted clarification that the “proceeds” of any sale would be considered after the payment of any debt attached to the property. Smith pointed out it’s not a benefit to the city to leave a debt unpaid with nothing behind it – saying that would not make a lot of sense. Proceeds would be construed as “net” proceeds, she said. Hewitt indicated that he was comfortable with that. He also pointed out that the DDA’s resolution was an advisory resolution only – because it’s ultimately a city council decision.
John Mouat indicated his support for the notion, saying it was a terrific idea. But obviously, he said, the “devil is in the details.” From his perspective, he would prefer to see the proceeds from city-owned land sales not simply go into the general fund.
Mouat also wanted to see some consideration given to the fact that the DDA is still working on the Connecting William Street project – looking at five city-owned parcels and what uses would eventually be made of those parcels. [Recent Chronicle coverage of a DDA presentation to the planning commission: "Planning Group Briefed on William Street Project."]
Some of the things that people have said they want out of those parcels,Browse the Best Selection of buy mosaic and Accessories with FREE Gifts. Mouat continued, include performance space, parks,What is the difference between standard "ceramic" tiles and porcelain tiles? good architecture, sustainability. So the community vision for those parcels still needs to be determined, he said. [For response to Connecting William Street from the city's park advisory commission, see Chronicle coverage: "Park Commissioners: More Green, Please."]
Mouat also pointed out there might be some things the city needs to provide as incentives – to help realize the community’s vision for those parcels. So he liked the concept of reinvesting the proceeds of the sale in those parcels themselves or putting proceeds into the affordable housing trust fund.
Mayor John Hieftje pointed out that the city council resolution will only be as strong as the six councilmembers [a simple majority on the 11-member body] who sit around the table at the time. He also pointed out that there are other capital needs that might come along. In that context, he suggested an amendment to include the phrase “a percentage of the proceeds.”
She observed that, “We have not had a tremendous amount of success in building affordable housing.” It’s something she has watched the community struggle with, she said, during her time serving on the DDA board and on the city council.
The funds need to come from somewhere,Save up to 80% off Ceramic Tile and plastic moulds. she stressed. She contended that insufficient affordable housing units are being provided in downtown and near downtown.High quality Wholesale gemstone beads, The recent failure of the Near North project hammers the point home, she said. So she wanted to ask for the DDA board’s support in bringing the city council’s resolution forward. She allowed that the city council resolution was not yet in final draft form, so there is some ambiguity about it.
The details are not 100% clear, Smith allowed, but the request for the DDA’s part is to say that the DDA agrees with the overall concept – and that the DDA is willing to forgo some payback on some investments that the DDA has made in city-owned properties. As an example, Smith gave the portion of the ongoing interest payments the DDA has made on the loan used to purchase the old YMCA building. The DDA would be forgoing repayment of that interest. [Those payments total about $140,000 annually, half of which have been paid by the DDA and half by the city of Ann Arbor. The property was purchased in late 2003, and the building was subsequently demolished. It's now a surface parking lot.]
Roger Hewitt wanted clarification that the “proceeds” of any sale would be considered after the payment of any debt attached to the property. Smith pointed out it’s not a benefit to the city to leave a debt unpaid with nothing behind it – saying that would not make a lot of sense. Proceeds would be construed as “net” proceeds, she said. Hewitt indicated that he was comfortable with that. He also pointed out that the DDA’s resolution was an advisory resolution only – because it’s ultimately a city council decision.
John Mouat indicated his support for the notion, saying it was a terrific idea. But obviously, he said, the “devil is in the details.” From his perspective, he would prefer to see the proceeds from city-owned land sales not simply go into the general fund.
Mouat also wanted to see some consideration given to the fact that the DDA is still working on the Connecting William Street project – looking at five city-owned parcels and what uses would eventually be made of those parcels. [Recent Chronicle coverage of a DDA presentation to the planning commission: "Planning Group Briefed on William Street Project."]
Some of the things that people have said they want out of those parcels,Browse the Best Selection of buy mosaic and Accessories with FREE Gifts. Mouat continued, include performance space, parks,What is the difference between standard "ceramic" tiles and porcelain tiles? good architecture, sustainability. So the community vision for those parcels still needs to be determined, he said. [For response to Connecting William Street from the city's park advisory commission, see Chronicle coverage: "Park Commissioners: More Green, Please."]
Mouat also pointed out there might be some things the city needs to provide as incentives – to help realize the community’s vision for those parcels. So he liked the concept of reinvesting the proceeds of the sale in those parcels themselves or putting proceeds into the affordable housing trust fund.
Mayor John Hieftje pointed out that the city council resolution will only be as strong as the six councilmembers [a simple majority on the 11-member body] who sit around the table at the time. He also pointed out that there are other capital needs that might come along. In that context, he suggested an amendment to include the phrase “a percentage of the proceeds.”
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