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HopeWorks Station Residential 5/1/2018
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HopeWorks Station Residential 5/1/2018
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Entry Properties
Last modified
7/30/2019 10:39:47 AM
Creation date
7/30/2019 10:39:13 AM
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Contracts
Contractor's Name
HopeWorks Station Residential
Approval Date
5/1/2018
Council Approval Date
5/10/2017
End Date
12/31/2059
Department
Planning
Department Project Manager
Rebecca McCrary
Subject / Project Title
HopeWorks Station II Housing
Tracking Number
0001906
Total Compensation
$500,537.00
Contract Type
Agreement
Retention Period
6 Years Then Destroy
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coaches will work with residents to create plans that help the respective families engage in <br /> activities that strengthen their households and increase their ability to be self-sufficient and <br /> inter-dependent with their community. <br /> From the Completion Date and thereafter until December 31, 2059, the End Date, Agency <br /> shall ensure that Thirty-three (33) units shall be occupied by households with incomes not <br /> exceeding 30% of Area Median Income ("AMI"), and Thirty-two (32) units shall be occupied <br /> by households with incomes not exceeding 50% of AMI, for the Seattle-Bellevue, WA HUD <br /> Metro FMR ("Fair Market Rents") area, at the time of initial occupancy as indicated herein. <br /> The Project includes both "City-Assisted Units" and the "HOME-Assisted Units." There will <br /> initially be Sixty (61) City-Assisted Units, and Four (4) HOME-Assisted Units. <br /> The project will serve the following populations: <br /> ALL UNITS <br /> %of Median Income Studio 1 2 3 4 5 Beds <br /> BR BR BR BR BR <br /> Total Units <br /> /Beds <br /> 30% 28 5 33 <br /> 50% 22 10 32 <br /> 60% <br /> 80% <br /> Other <br /> Mgr's Unit(unrestricted) <br /> TOTAL UNITS: 28 27 10 65 <br /> SPECIFIC POPULATIONS TO Previously Non- Totals <br /> BE SERVED, #Units Homeless Homeless <br /> General 8 8 <br /> Individuals 6 <br /> Families with Dependent Children 10 10 <br /> Seniors/Disabled <br /> Farmworkers <br /> -Special Needs (specify) <br /> Other:Young Adults 18-24 15 15 <br /> Other:Veterans 10 10 <br /> Other:substance abuse 16 16 <br /> If the Agency's Project includes a social or human service component, then the Agency must <br /> provide evidence to the City that such services or an agreement to provide such services is <br /> currently in place with an appropriate provider. <br /> The income and set-aside requirements set forth in this Section III are subject to Section III. <br /> of the Loan Agreement. <br /> Exhibit A <br /> Housing Hope Properties <br /> Page 2 of 7 <br />
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