The ordinance authorizes the forgiveness of a $900,000 loan and transfer of title for two parcels at Commons at Grant, the first large-scale permanent supportive housing project in Ohio. The recapitalization effort, backed by new funding from HOME ARP, ensures the 100-unit property can continue providing essential services for individuals experiencing homelessness while maintaining affordable housing for an additional 30 years.
By forgiving the loan, the city supports long-term affordability and social services for vulnerable populations, aligning with its commitment to housing stability and community well-being.