ENCLOSURE 6B Page 1 of 12

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1 Page 1 of 12 RESOLUTION OF THE CITY OF ROME A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF ROME, GEORGIA ENDORSING AND DESIGNATING AS ITS HIGHEST AFFORDABLE HOUSING PRIORITY AN APPLICATION BY SOUTH ROME II, LLC TO THE GEORGIA DEPARTMENT OF COMMUNITY AFFAIRS FOR LOW-INCOME HOUSING TAX CREDITS FOR THE CONSTRUCTION OF AN EIGHTY-FOUR UNIT SCATTERED SITE APARTMENT DEVELOPMENT IN THE SOUTH ROME COMMUNITY, AND PROVIDE FOR AN EFECTIVE DATE. WHERAS, South Rome II, LLC will apply to the Georgia Department of Community Affairs ( DCA ) for low-income housing tax-credits for the new construction of eighty-four apartments located at three sites in the South Rome community ( South Rome Apartments ), within the limits of Rome, Georgia; and WHEREAS, a summary of the application is attached hereto as Exhibit A ; and WHEREAS, South Rome II, LLC is a partnership between the South Rome Community Corporation ( SRCC ) and Laurel Street Residential ( LSR ); and WHEREAS, South Rome Redevelopment Agency ( SRRA ) was created and organized by the City of Rome in order to carry out the City of Rome s goals to redevelop the South Rome community; and WHEREAS, SRRA incorporated to form SRRC to implement portions of the redevelopment activities identified in the redevelopment plan as a 501C-3 entity; and WHEREAS, the South Rome Apartments was initiated by SRRC as part of the South Rome Redevelopment Master Plan, the South Rome Redevelopment Master Plan was adopted by the City of Rome in 2004 and updated in 2009 and 2011, and increasing the supply of affordable housing is a stated goal of the South Rome Redevelopment Master Plan; and WHEREAS, SRRC selected LSR as the developer for the South Rome Apartments, the City of Rome has made significant investments in South Rome, the City of Rome is a graduate of the Georgia Initiative for Community Housing (GICH) program, and the City of Rome authorizes the GICH to commit formal support to this project; and WHEREAS, DCA has established certain regulations whereby a low-income tax credit application that is part of a Local Government s holistic, place-based strategic initiative for improving a neighborhood may be designated by the Local Government as its highest affordable housing priority; and

2 Page 2 of 12 WHEREAS, the City of Rome desires to endorse and designate the application by the South Rome II, LLC as its highest affordable housing priority and commits $275,000 in construction and permanent financing for direct project costs. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROME, GEORGIA, THAT: SECTION ONE: The City of Rome Commission hereby endorses and designates as its highest affordable housing priority South Rome II, LLC s application to the Georgia Department of Community Affairs for low-income housing tax credits for the new construction of eightyfour apartments at three sites in South Rome in the City limits of Rome, Georgia and commits $275,000 in construction and permanent financing for direct project costs. SECTION TWO: The Mayor is hereby authorized to sign all required endorsement and designation documents on behalf of the City of Rome. SECTION THREE: A summary of said application is attached hereto as Exhibit A. SECTION FOUR: This resolution shall take effect immediately upon passage. Adopted this 8 th day of June, Mayor, City of Rome Joseph F Smith, City Clerk

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5 Page 5 of 12 To: Sammy Rich, City Manager From: Bekki Fox, Director Date: June 3, 2015 Re: South Rome Redevelopment Corporation/Laurel Street Residential LIHTC scattered site development in South Rome The South Rome Redevelopment Corporation and Laurel Street Residential are submitting a 2015 tax credit application for the same scattered site housing development that was not successful in 2014 (project description attached). The City of Rome is being asked for full support of this project and to assist with a financial contribution to the project (with grant funds) to help leverage overall project costs for additional points/scoring. The $200,000 allocated from the NSP program for McCall Hospital can be counted along with an additional $75,000 that would come from 2016 CDBG Entitlement funds. The funds would be allocated for infrastructure improvements only (sidewalks, updated water lines/sewer lines, etc.) and would not only benefit the residents of the development but the entire neighborhood. This was approved by the Community Development Services Committee on June 3 rd. Lee Cochran with Laurel Street Residential will give a formal presentation of the project (as a reminder) at the Commission meeting on 6/8/15.

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