This legislation authorizes the Director of the Department of Development to enter into a Housing Development Agreement (HDA) with Erie Ohio Capital CDFI Fund, LLC. This HDA memorializes the City’s commitment of up to $13,310,000.00 for the development of 'The Lofts at 40 Long', an affordable housing project. Erie Ohio Capital CDFI Fund, LLC acts as a pass-through entity, with the funds ultimately going to Lofts at 40 Long Limited Partnership. Woda Cooper Companies, Inc. is the developer, partnering with IMPACT Community Action as co-developer. The project involves the modernization and rehabilitation of the vacant historic YMCA building at 40 West Long Street, which is listed on the National Register of Historic Places. The development will create 121 affordable housing units, targeting households with incomes ranging from 30% to 80% Area Median Income. The unit mix includes 1 efficiency, 72 one-bedroom, 38 two-bedroom, and 10 three-bedroom units. The rehabilitation will preserve historic features and include amenities such as on-site management, a community room, media room, storage, daycare, and fitness room. Jewish Family Services will provide dedicated on-site services. Emergency action was requested to provide evidence of city funding for the property closing date.