Agenda - Council - 06/25/2019 - Laserfiche WebLink

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Design Fees & Engagement • Architectural and engineering fees to support the design of innovative stormwater management systems, public spaces or public art elements, when specifically requested. • Architectural and engineering fees related to the general site or building or not related directly to grant -funded elements specifically listed as "eligible". Note: Up to 10% of the awarded amount for the grant -funded activity and these costs will only be reimbursed once the eligible element, to which architectural/engineering fees are related, is constructed. • Community engagement beyond a traditional public meeting or presentation to a neighborhood organization or planning board See applicant resource page for additional community engagement resources Site Acquisition • Site acquisition for the development of • Reimbursement, refinancing of land affordable housing or for the retention or acquisition or site control costs incurred creation of jobs made more accessible to by the applicant, any current or future low-income and underserved populations. grant subrecipient, related LLC, Limited Available for acquisition after the date of Partner, or the like, or other project award OR for sites acquired within 12 partner before the date of an LCDA grant months prior to the application due award. This includes costs to acquire or date gain site control for project sites where o Eligible site acquisition costs are site control has been established or only those that are for the transfer where formal steps to acquire the of property from one completely unrelated entity to another within property, such as a purchase agreement, have been taken. the timeframes indicate above. • Site acquisition costs for transactions • Holding costs both directly associated with between or among partnerships or other requested site acquisition and not legal entities for project sites where any associated with site acquisition. grantee, current or future subrecipient or o Holding costs may not exceed 5% other project partner has any ownership of the grant amount awarded for or site control interest in a property prior the purchase price, or $100,000, whichever is less. • to the grant award are also not eligible. LCDA funds may not be used to o Eligible holding costs include refinance, replace or supplant other property maintenance, insurance, property taxes, and interest. sources of funding available to acquire or gain site control of the development project property. • Site assembly for lands to be used for transit infrastructure. Site acquisition costs may only relate to the portion of the project which meets the criteria above. For example, if a project includes market rate units, then 7