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From YouTube: City of Charleston Committee on Real 2/7/22
Description
City of Charleston Committee on Real 2/7/22
A
I
think
that
she
said
there
were
at
least
100.
Firefighters
had
responded
to
it.
It
was.
It
was
quite
a
scene
elephant.
It
really
was,
thank
god.
Nobody
got
hurt,
none
of
the
residents.
All
the
residents
got
out.
No
firemen
got
hurt.
It
was
really
an
incredible
experience
to
observe
our
fire
department
working
and
it's
just
you
need
to
see
it,
but
you
were
glad
the
level
of
coordination
with
the
other
departments
in
our
police
department
out
there,
all
the
first
responders.
A
B
B
C
D
D
So
welcome
everybody
to
the
real
estate
committee
meeting
for
february,
7th
2022,
it's
a
little
after
3
30
and
we'll
go
ahead
and
call
the
meeting
to
order.
Councilman
waring
indicated
that
he
is
unable
to
attend
this
committee
meeting
today
and
he
is
set
to
give
the
invocation
so
councilman
shead.
Would
you
do
us
the
do
us?
The
honor
of
I.
B
E
A
I
think
the
numbers
mayor
said
50.
I
thought
it
was
higher
than
that
are
now
homeless
because
of
this
fire
and
those
people
who
had
their
homes
destroyed
literally
lost
everything.
They
lost
their
possessions,
and
this
complex
was
not
a
transitional
complex.
This
is
home
to
a
lot
of
people
on
for
long
term
basis.
A
So
my
prayer
today
is
a
prayer
of
gratitude
to
our
first
responders,
a
prayer
of
gratitude
that
this
fire,
as
devastating
as
it
was,
did
not
cause
the
loss
of
life
or
serious
injury
to
anyone,
and
it's
times
like
this,
that
we
put
things
in
perspective
of
what's
important
to
us
in
our
lives,
which
is
our
loved
ones,
our
friends,
our
family,
and
to
that
we
were
grateful
to
our
eternal
father
for
keeping
us
all,
I'm
in
good
health
and
good,
a
good
stance.
So
god
bless
us
all.
F
D
D
D
C
So
this
is
yes,
two
easements
both
for
dominion
and
it's
specific
to
this
particular
project,
so
they
can
be
considered
together
if
you
would
like.
So
if
you
look
here,
you've
got
hanover
street
lee
street
and
on
this
side
over
here
is
nasa.
Okay,
and
the
project
is
right
here,
so
dominion
would
attach
to
the
power
box
here,
and
this
is
underground,
ductwork
everything
in
pink
running
across
here
to
the
transformer-
and
this
is
all
electricity,
so
you've
got
this.
C
D
C
D
F
G
G
This
particular
project
was
done
before
our
new
schema.
If
you
will
for
undergrounding,
and
so
the
cost
of
this
undergrounding
really
falls
squarely
on
the
city.
I
just
wanted
to.
Let
you
all
know
that
we
had
set
aside
funding
in
the
cooper
river
tiff
district
to
to
help
accommodate
this,
and
I
know
miss
doran
is
here
for
another
matter,
but
we
are
working
on
a
undergrounding
for
her
project
at
at
the
archer
school
and
then
another
small
undergrounding
project
for
the
charleston
housing
authority
up
on
fuji
street
now.
G
G
Sometimes
the
developer
pays
a
portion
and
and
the
and
dominion
pays
a
portion
as
well.
So
that's
a
bonus
to
us
that
we
utilize
some
of
the
funding
that
had
been
set
aside
for
undergrounding
and
I
probably
didn't
need
to
go
into
all
that.
But
I
thought
it
was.
You
know,
kind
of
applicable
and
wanted
to
share
that
with
everyone.
B
C
G
D
Any
other
discussion
hearing
none
all
in
favor
of
approving
little
a
and
little
b.
Please
signify
by
saying
I
I
I
all
opposed
hearing
none
the
eyes
have
it
next
item
on
the
agenda
is
a
request
for
the
mayor
and
city
council
to
approve
the
sale
of
the
shires
apartment
to
harmony,
housing,
inc,
a
georgia-based
non-profit
organization.
D
E
Yes,
sir,
you
assume
correct.
Thank
you,
sir
and
council.
Thank
you
all
for
the
undergrounding.
It
really
makes
a
difference
in
the
appearance
of
the
neighborhoods,
especially
with
the
new
development.
I
wanted
to
add
that
in
so
what
is
before
you
all
tonight
is
letter
c
is
a
request
from
the
humanities
foundation
to
sell
the
shires
apartments.
E
The
covenants
that
exist
on
this
right
now
go
to
2027..
Their
goal
is
to
sell
this
to
harmony,
housing
inc,
which
would
retain
the
property
as
affordable
for
a
minimum
of
30
years.
The
the
property
itself.
The
development
would
continue
to
serve
residents,
earning
60
and
below
the
area
meeting
income,
which
are
your
typical
rents
for
your
low
income,
housing
tax
credit
projects.
E
I
would
also
add
that
the
city
over
several
years
invested
a
total
of
approximately
379
thousand
dollars
in
the
property
itself
and
the
acquisition
and
construction-
and
I
indicated
on
the
committee
council
agenda-
form
that
that
amount
would
be
returned.
It
is
not
that
full
amount,
a
portion
of
that
approximately
around
140
000
would
be
returned
as
part
of
that
sale
and
we
don't
have
the
final
number
on
the
sale.
E
Yet
the
goal
with
those
dollars
and
miss
doran
can
elaborate
on
this
here
in
a
moment,
but
the
goal
of
those
funds
would
be
to
reinvest
those
and
other
what
we
call
total
eligible
or
community
housing
development
organization
eligible
projects,
and
so
we
would
certainly
recommend
and
ask
for
your
approval
of
it
and
tracy.
If
you
wanted
to
add
anything,
I'm
glad
to
hear
from
you.
H
Thank
you
gianna
and
thank
you
mayor
and
city
council.
Yes,
we
have
been.
You
know.
We
have
an
older
portfolio
here
in
charleston
and
most
of
these
older
properties,
we
have
sold
two
of
them
actually
to
the
city
of
charleston
crc,
and
most
of
them
are
at
all
50
of
ami
rents
and
they're
very
hard
as
they
get
to
the
14
15
16
17
year
of
operations.
H
They
just
do
not
carry
themselves
anymore
and
we
end
up
having
deferred
maintenance
and
issues
and
we
have
to
lend
money
to
the
properties.
So
what
we're
trying
to
do
is
sell
these
properties
to
someone
that
will
keep
them
affordable
in
the
case
of
harmony,
they're,
very
large,
non-profit.
They
were
set
up
by
graystone
to
invest
in
affordable
properties
around
the
country
and
they
will
keep
it
affordable
and
they
have
monies
to
come
in
and
do
some
repairs
on
the
property
and
improve
it.
H
So
our
goal
is
to
take
the
monies
out
that
we
receive
and
put
into
new
ventures
like
our
new
lee
street
property.
What
we're
doing
on
the
east
side,
new
properties
that
we're
looking
at
around
the
state,
but
mainly
in
the
city
of
charleston,
so
the
funds
that
we
would
receive
our
plan
is
that
would
be
choto
funds.
As
gianna
said,
it's
a
percentage
on
the
way
hud
rules,
as
a
percentage
of
the
proceeds,
would
go
back
into
choto
activities.
H
So
our
plan
is
to
put
some
of
that
money
into
other
properties
that
also
have
deferred
maintenance
that
are
older,
also
to
put
into
advocacy
activities
on
the
east
side,
as
we
continue
to
look
at
future
development
and
potentially
working
on
an
rfp
with
the
charleston
housing
authority
with
rad.
So
we
would
look
at
maintenance
operations
and
advocacy
activities
on
the
east
side.
We
could
also
use
some
of
that
funding
for
pre-development
dollars
to
help
us.
H
D
Very
good:
well,
I
appreciate
that
thorough
explanation,
miss
johnson
and
miss
doran.
This
is
just
another
example
of
all
the
collaboration
we're
doing
in
the
city
of
charleston
around
affordable
housing
any
do
we
did
we
get
a
motion
on
this
or
not.
I'm
still
got
the
training
wheels
on
councilman
j.
G
E
Right
so
mayor
based
on
hud's
guidelines
and
the
fact
that
we
invested
what
we
call
home
choto
funds,
we
invested
379
000
and
you
basic
there's
a
a
multiplier
or
a
formula
that
hud
gives
us,
and
so
we
literally
divide
what
we
invested
into
the
total
development
cost
at
that
time.
That
comes
out
to
so
was
about
six
million
six
hundred
and
sixty
one
thousand.
So
when
you
take
three
hundred
and
seventy
nine
thousand-
and
you
divide
it
by
that
factor-
you
get
five
point
seven
percent.
E
G
Right-
and
I
I
don't
mean
any
offense
at
all
by
this
question
tracy-
I
I
have
full
confidence
in
in
what
you're
doing
I.
I
would
respectfully
ask
that
you
mentioned
charleston,
but
you
also
said
south
carolina
would
respectfully
ask
that
these
funds
be
invested
in
your
charleston
projects.
I
think
that's
appropriate,
but
I
guess
my
question
was:
why
does
the
money
not
come
back
to
the
city
to
put
back
out,
as
opposed
to
staying
with
tracy,
to
put
back
out
into
one
of
her
other
projects?
I'm
just
curious.
E
Sir,
and
I
would
also
add
to
this-
that
state
housing
also
has
funding,
theirs
comes
up
to
about
six
percent
so
and
tracy,
I'm
not
sure
what
they're
requiring
you
to
do.
Probably
a
similar
thing,
but
you
have
to
based
on
the
regulations,
invest
that
money
in
the
area
that
awarded
it
to
you.
So
hers
are
absolutely
required
to
come
back
to
the
city
of
charleston.
H
A
You,
mr
chairman,
jonah
curious
about
this
one
provision
in
here
that
the
new
owners
once
we
sell
it,
are
to
maintain
affordable,
renting
housing
for
persons
or
families,
earning
60
and
below
the
area,
medium
income
for
a
period
not
to
exceed
30
years.
So
it's
sort
of
a
two-prong
question
for
you.
If
we
did
not
sell
the
property,
would
that
requirement
restrictions
still
exist
or
would
the
property
remain
of
affordable
housing
for
eternity.
E
A
E
A
E
E
There
are
not
many
of
these
organizations
that
garner
a
windfall,
as
a
result
of
that
now,
naturally,
at
the
end
of
that,
if
those
restrictions
have
fallen
off,
they
can
then
sell
it
as
a
market
rate
property,
and
we
know
that
in
our
community,
currently
the
values
of
properties
are
are
escalating
exponentially.
So
there's
an
opportunity.
Then,
during
that
period
I
don't
see
where
there
would
be
a
great
windfall.
A
G
H
Mayor
no,
this
is
this.
This
was
done
15
years
ago.
This
property
is
in
its
15th
year.
We
have
five
more
years
on
the
home
restrictions
and
the
low-income
housing
tax
credit
program
has
a
30-year
restriction.
So
there
was
not
any
kind
of
right
of
first
refusal.
I
don't
know
that
we
could
layer
that
in
at
this
point,
with
harmony
that
would
complicate
things.
F
G
H
F
D
Opposed
hearing
none
the
eyes
have
it
next
item
on
the
agenda
is
item
d.
This
is
a
request
for
the
mayor
and
city
council
to
enter
into
an
option
to
lease
with
rhg
housing
development
llc
the
successful
bidder
for
the
johns
island,
affordable
housing,
rfp
for
fenwick
properties,
who
has
the
honor
and
privilege
of
giving
us
a
little
bit
more
information
on
this
one.
E
Thank
you,
sir,
for
the
honor
and
the
privilege,
so
council,
member
appel
and
members
of
the
real
estate
committee.
You
have
before
you
now
an
option
to
lease
and
acquire
real
property.
So
this
particular
agreement
does
two
things.
It
allows
rhg
to
enter
into
a
option
to
lease
for
the
property
that
the
city
acquired
back
in
2018,
that
we
call
the
finwick
property
they
would.
Basically,
they
are
basically
applying
for
nine
percent
tax
credits,
which
would
allow
them
to
build
a
minimum
or
to
build
90
rental
units
of
affordable
housing.
E
The
rfp
that
we
released
and
they
responded
to
also
require
the
construction
of
affordable
for
sale
housing.
So
we're
really
excited
that,
in
addition
to
the
rental,
a
part
of
this
agreement
would
allow
us
to
also
secure
for-sale
housing
and
that
for
sale
component
would
require
us
to
sell
the
balance
of
the
land
to
them
for
the
purposes
of
building
the
for
sale.
E
So
they
would
basically
enter
into
a
development
agreement
with
the
city
of
charleston
to
build
right
now
we
are
estimating
a
minimum
of
28
and
we
are
negotiating
with
them
to
kick
that
number
up
just
slightly,
but
basically
we
would
have
for
sale.
We
would
have
rental.
The
rental
would
be
underground
lease
very
similar
to
what
we've
done
before,
whereby
they
would
rent
to
persons
at
60
percent
and
below
the
area
median
income.
E
They
would
retain
the
property
for
60
years
and
at
the
end
of
that
60
years,
both
the
land
and
the
improvement
would
come
back
to
the
city
on
the
for
sell
component.
Naturally,
we
would
they
and
their
partners
would
build
that
for
sale,
housing.
Our
thought
is
an
attached
product
for
this
land
and
then
they
would
sell
those
to
our
first-time
homebuyers,
attaching
our
90-year
restrictive
covenant.
E
In
addition
to
those
two
provisions,
the
organization
is
also
requesting
from
the
city
of
charleston
a
million
dollars
in
support
to
address
the
infrastructure
that
it
will
be
required
at
this
site.
And
we,
you
know,
as
the
agreement
indicates,
we
have
time
to
look
at
that
more
thoroughly
and
work
through
all
of
the
due
diligence
periods,
that
that
is
a
part
of
the
request
that
they
have
put
before
council
today
and
more
specifically
real
estate,
and,
as
it
indicated
in
the
document
that
you
are
looking
at.
E
D
D
F
E
D
I
D
D
D
D
D
D
G
J
F
A
D
And
thank
you,
mr
mayor,
for
bringing
up
wpal.
Maybe
sometime,
we
can
get
an
update
on
on
where
all
that
stands.
That's
an
exciting
park
project
in
district
11
and
a
great
way
to
get
some
public
access
to
the
stono
river,
so
very
excited
to
hear
more
about
that
in
the
appropriate
forum.
Anything
else
from
anybody.