Akron City Council Monday night approved spending $100,000 from the 2009 Community Development Budget to aid in building affordable homes for Akron families.
The approved ordinance, offered by Council President Marco Sommerville (W-3) and Planning Committee Chair John Conti (At Large), authorizes the city's Director of Planning and Urban Development to collaborate with the nonprofit Urban Neighborhood Development Corp. (UNDC) to build and sell three to four single-family homes this year.
Homes under this program are built in designated Community Development Activity Areas throughout the city. UNDC is still exploring building sites, and hopes to begin construction on the first home in April.
UNDC will sell the homes on a not-for-profit basis for an average cost of less than $90,000. A UNDC official expects to forego profits of $10,000 to $15,000 per home sold.
UNDC, the nonprofit corporation administered by the Department of Planning and Urban Development, currently has six homes for sale under 2007 and 2008 building projects. Under past agreements with the city, UNDC has constructed and sold 362 moderately-priced homes in designated Community Development Activity Areas since 1979.