Resolution 6184 - Laserfiche WebLink

• Vehicle Maintenance Facility: Phase II, Day Care Center This facility consists of approximately 2,500 square feet. DVS proposes to remodel this structure for use as a child care facility, in Phase II of the renovation plan. In the short term, the facility will be used for storage. 3. Transitional Housing: Phase III, 20 New Housing Units If the Everett City Council amends the Consolidated Housing Plan to allow new construction of publicly subsidized housing on the Oswald Center property, DVS is proposing that the southern portion of the site be developed at a later date with 20 units of transitional housing units to serve women and children who are leaving the shelter. See Section F.2 of the Reuse Plan for explanation of existing policies that encourage dispersal of subsidized rental housing equitably throughout the Everett Planning Area and to ensure that not more than 20% of the rental housing within any census tract is government subsidized very low-, low-, or moderate-income housing. The City of Everett has suggested that 30 units of housing might be appropriate for the one and a half acre site at the south end of the Oswald property to take advantage of the Multiple-family zoning. DVS believes that a 20-unit transitional facility best serves the needs of the agency and their clients. The operational model of the transitional housing facility includes the provision of project based vouchers by the Everett Housing Authority (EHA). Vouchers will provide an income stream for the project assuring project feasibility. If all the units are not occupied by DVS clients, inadequate income will be produced jeopardizing needed cash flow. The transitional housing would be constructed 36 months after DVS takes possession of the property (May — September, 2011). It is anticipated that the remodel of the administrative support center and the shelter will take 12 months to complete after the property is transferred to DVS. It will then take an additional year to begin filling the shelter and building the agency's capacity to achieve full occupancy. Transitional housing will be ready for occupancy around September, 2014. DVS and EHA are aware of the recent efforts by the City to rezone the Broadway Corridor, and to upgrade the appearance and quality of this area of Everett. All design standards, including multiple-family development standards and other requirements of the Broadway Mixed-use zone (BMU) will be observed in remodeling and construction of the DVS campus. 4. Ownership, Management, Financing The Everett Housing Authority and DVS will work cooperatively to acquire funding for the transitional housing. EHA will be the lead agency since they will own the facility. EHA has a great deal of experience in aggregating funding sources to construct housing facilities. EHA also has considerable experience in managing housing construction and will oversee the development of the transitional housing. The array of sources typically used to construct transitional housing will be utilized including Community Development Block Grants, Washington State Housing Trust Funds, and Low Income Housing Tax Credits. EHA plans to project base vouchers at the facility providing a market rate funding stream. This source of project income can support bank financing with a mortgage on the property as a likely part of the funding scheme. Since 7