City Council Minutes 2003 04 01 - Laserfiche WebLink

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Louisville City Council Meeting April 1, 2003 Page 5 of 22 Sisk opened the public hearing and asked if anyone in the audience wished to speak for or against Ordinance No. 1414, Series 2003. MOTION: Brown moved that Council approve Ordinance No. 1414, Series 2003, seconded by Van Pelt. Roll call vote was taken. The motion passed by a vote of 6-0. RESOLUTION NO. 4, SERIES 2003 - A RESOLUTION APPROVING A TRANSFER AND DEVELOPMENT AGREEMENT WITH THE LOUISVILLE HOUSING AUTHORITY Keany stated the project has been ongoing for some time, and as Council representative to the Housing Authority, he looks forward to the completion of the housing project. Sisk asked if the contract contemplates allowing the Housing Authority to sell affordable housing to the public sector at some future date. Reis responded yes, but stated it is not their intention to sell affordable housing. He explained there would be a covenant on the property to prevent the sale of the housing. City Attorney Sam Light confirmed there would be a covenant on the property, which will be recorded at the time of closing. Sisk voiced his preference the property be maintained by the Louisville Housing Authority and not be sold. Reis stressed the mission of the Louisville Housing Authority is affordable housing and maintaining that housing. Marsella stated the Louisville Housing Authority can mandate affordable housing and stressed the City Council maintains control over the Housing Authority. Sisk voiced his concern the housing should be maintained by the Louisville Housing Authority or it successor, and not sold on the public market. Brown suggested language be added to the agreement which states maintenance shall be the responsibility of the Housing Authority or its successor. City Attorney Light stated the current agreement provides for a covenant that the Authority owned and operated the housing project, and would be recorded at closing. He stated there is an option to lease the housing to the Authority and noted there is also a legal right of reversion of the property if certain conditions are not satisfied. Keany stated Council appoints members to the Louisville Housing Authority and a Council member serves as liaison to the Authority to safeguard the City's interest. With regards to the sell of the housing units, he stated there might be an opportunity in the future to sell the property at a profit and take the proceeds to another project that is more beneficial to the community.