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On agenda:
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11/5/2024
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Final action:
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11/5/2024
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Title:
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Approve and authorize an award to Coordinated Living of Southern Nevada, Inc and to Ovation Design and Development, Inc. for the development of affordable housing located at the Southeast corner of Robindale Road and the 215 right-of-way-subject to the awardee entering into a Development, Disposition and Funding Agreement (DDFA) with the County that will include up to Three Million dollars ($3,000,000) in 2024-2025 HOME/AAHTF Off Cycle Initiatives Set-Aside, up to Eight Million dollars ($8,000,000) in Community Housing Funds (CHF), and conveyance of the designated County parcels; and authorize the Director of Real Property Management, or her designee, to take any other action as appropriate and sign any documents necessary to complete the DDFA, which will require Board approval. (For possible action)
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CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Lisa Kremer, Deputy County Manager Dagny Stapleton, Community Housing Administrator |
Recommendation:
title
Approve and authorize an award to Coordinated Living of Southern Nevada, Inc and to Ovation Design and Development, Inc. for the development of affordable housing located at the Southeast corner of Robindale Road and the 215 right-of-way-subject to the awardee entering into a Development, Disposition and Funding Agreement (DDFA) with the County that will include up to Three Million dollars ($3,000,000) in 2024-2025 HOME/AAHTF Off Cycle Initiatives Set-Aside, up to Eight Million dollars ($8,000,000) in Community Housing Funds (CHF), and conveyance of the designated County parcels; and authorize the Director of Real Property Management, or her designee, to take any other action as appropriate and sign any documents necessary to complete the DDFA, which will require Board approval. (For possible action)
body
FISCAL IMPACT:
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Fund #: |
2770.000 |
Fund Name: |
Community Housing |
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Fund Center: |
1270111770 |
Funded PGM/Grant: |
N/A |
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Amount: |
$ 8,000,000 |
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Description: |
Development, Disposition, and Funding Agreement |
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Additional Comments: |
N/A |
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2011.000 |
2011.000 |
Fund Name: |
HUD & State Housing Grants |
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Fund Center: |
1080719000 |
Funded PGM/Grant: |
TBD |
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Amount: |
$ 3,000,000 |
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Description: |
Development, Disposition, and Funding Agreement |
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Additional Comments: |
N/A |
BACKGROUND:
In response to the unprecedented crisis in housing affordability and availability in Southern Nevada, the Board of County Commissioners (Board) has taken significant steps to subsidize and incentivize the development of low- to moderate- income housing. As a part of these efforts, on June 26, 2024 the Community Housing Office (CHO) released an Application for an affordable housing development opportunity on approximately +/- 17.25 acres of County owned land located at the Southeast corner of Robindale Road and the 215 right-of-way along with funding of up to $8M in Community Housing Funds (CHF) and up to $3M in County HOME/AAHTF funds from the 2024-2025 Off-Cycle Initiatives Set-Aside. The project will require the chosen developer to construct new, multi-family affordable housing units, at a minimum density of 18 units/acre and will include the construction of a vehicular/pedestrian bridge over the existing Duck Creek Channel. The development will be subject to a 99-year affordability restriction.
Staff worked with a scoring committee and an underwriting consultant, to carry out a substantial review of the 6 applications received. The dual entity-Coordinated Living of Southern Nevada, Inc and Ovation Design and Development, Inc. (Ovation)-ranked the highest. Ovation proposes to construct three hundred sixty-three (363) high-amenity one (1) and (2) bedroom units across three (3), two-story elevator buildings. All units will be available to households at or below 60% of the Area Medan Income (AMI), with fifty-nine (59) of those units available to households at 30% AMI or below. Once the DDFA has been negotiated and approved by the BCC, the land will be deeded to CLSN/Ovation, and they will be awarded up to $8M in CHF funds and up to $3M HOME/AAHTF funds from the 2024-2025 Off-Cycle Initiatives Set-Aside, pursuant to the Agreement.
Staff recommends approval.
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