The City Commission approved Wednesday both a $500,000 to jump-start an Oregon District condominium project and up to $9 million through 2016 for three consulting firms to plan and supervise airport projects.
“Each has their own area of expertise,” airport aviation director Terry Slaybaugh said of the consultants. “Having them available helps us when a federal grant is available, and we have to have a proposal ready within two weeks.”
The three firms — each of whom has an up to a $3 million contract — also will be tasked with the oversight and administration of construction contracts. The Dayton International Airport and Dayton-Wright Brothers Airport currently have around $30 million in construction in the pipeline, Slaybaugh said.
Previously, the airports have relied on one consultant. The addition of two more with separate areas of expertise leads to “a more competitive environment and better results,’’ Slaybaugh said. The costs of the consultants will be covered by state and federal grants, and monies collected by the airport through facility charges that are part of the cost of airplane tickets. No taxpayer money from the city’s General Fund, which pays for the city’s day-to-day operations, will be used.
The condo project, previously identified to the City Plan Board as the Excelsior Condominiums, will get the money from the federal HOME funds that requires a portion of the development be devoted to affordable housing. In this case, three of the 18 proposed two-bedroom condos will be sold to households with an income of $63,300 or less.
Construction on the Sixth Street Lofts in the former Excelsior Laundry building, 207 E. Sixth St., is expected to begin in late September, according to Aaron Sorrell , planning and community developer director. Sorrell said the developer, Sixth Street Lofts LLC, is planning to invest $2.9 million in the project. Sales are expected to generate $2.3 million.
“HOME funds are necessary to move the project forward due to the gap between project costs and revenue,” Sorrell wrote in a memo to the city manager.
Further private and public financing is expected to close the gap.
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