HomeMy WebLinkAboutContractSTEELE HOUSE TOWNHOME DEVELOPMENTPROJECT
GRANT BENEFICIARY AGREEMENT
SALES AND USE TAXAFFORDABLE HOUSING FUND GRANT
THIS AGREEMENT, datedfor reference purposes only asMarch 31, 2025,is by and between
the City of Renton (the “City”), a Washington municipal corporation, and St. Stephen
Housing Association (“SSHA”) (“Grantee”), a Washington State non-profit corporation and
sets forth the terms and conditions under which the City will provide a grant to SSHA from
the city’s sales and use tax revenue from 2021 to present.
The City and the Granteeare referred to collectively in this Agreement as the “Parties.” Once
fully executed by the Parties, this Agreement is effective as of the last date signed by both
parties.
RECITALS:
WHEREAS,Renton adopted Ordinance No. 5983 (October 5, 2020) authorizing sales and
use tax funds for housing and related services in accordance with RCW 82.14.530, as
amended; and
WHEREAS,RCW 82.14.530 authorizes, under specified circumstances, the imposition of a
local sales and use tax that may not exceed one-tenth of one percent for: “(i) constructing
or acquiring affordable housing, which may include emergency, transitional, and supportive
housing and new units of affordable housing within an existing structure, and facilities
providing housing-related services, or acquiring land for these purposes;” (RCW
84.14.530(2)(a)(i)); and
WHEREAS,pursuant to RCW 82.14.530(2), the affordable housing and facilities providing
housing-related programs constructed with the moneys collected from the sales and use
tax may only be provided to persons within any of the following population groups whose
income is at or below sixty percent (60%) of King County median income: persons with
behavioral health disabilities; veterans; senior citizens; homeless (or at risk of being
homeless), including families with children; unaccompanied homeless youth or young
adults; persons with disabilities; or domestic violence survivors; and
WHEREAS,SSHA’s project (“Steele House Townhome Development Project” or “Project”)
is a new construction project which will help increase the available supply of affordable
housingin Renton; and
CAG-25-205
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WHEREAS, Steele House Townhome Development Project is comprised of six (6)
townhomes, comprised of no less than three (3) bedroom units for families experiencing
homelessness or at risk of being homeless including survivors of domestic violence and
those impacted by behavioral health disabilities; and
WHEREAS, all six (6) townhomes will be reserved as rental housing opportunities to
households that are eligible under RCW 82.14.530 and earn no more than sixty percent
(60%) of the King County median income as established by the U.S. Department of Housing
and Urban Development (HUD); and
WHEREAS,the City is authorized to award this Sales and Use Tax Grant in support of the
Project pursuant to RCW 35.21.685.
NOW, THEREFORE, in consideration of the mutual benefits and covenants herein referred
to, and incorporating the language above in this Agreement, it is hereby agreed by and
between the Parties as follows:
AGREEMENT
1. Grant Amount.The total amount to be awarded to Grantee under the program is not
to exceed $500,000.00 (five hundred thousand dollars) of sales and use tax revenue
collected by the City pursuant to RCW 82.14.530 between January 1, 2021 and the
date of execution of this Agreement,as a reimburseable sum according to the
disbursement process noted below. Except as specifically provided herein, the
Grantee shall be solely responsible for payment of any taxes imposed as a result of
this Agreement.
a.Award Disbursement.
i. Disbursement: The award will be disbursed based on actual
reimbursable expenses described in paragraph 4 of this
Agreement.
ii. Invoice: On a monthly, or no less than quarterly basis during any
quarter during which reimburseable expenses are incurred,
Grantee shall submit an invoice in a format acceptable to the City,
including a description of what work has been performed, and
supporting documentation including, but not limited to, invoices or
reports showing completion of work for which reimbursement is
sought.
iii. No waiver: Payment for any reimbursement shall not
constitute a waiver by the City of any remedies it may have for any
breach of this Agreement by the Grantee.
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iv. If sufficient funds are not appropriated or allocated for payment
underthis Agreement for any future fiscal period, the City shall not
be obligated to make disbursements for amounts incurred after the
end of the current fiscal year. No penalty or expense shall accrue
to the City in the event this provision applies.
b.Contingent Funding.Funding is contingent upon SSHA obtaining a
Certificate of Occupancy by May 1, 2029, and ensuring that for a minimum
period of fifty (50) years, the six (6) townhomes remain as affordable to
households that are eligible under RCW 82.14.530 and earn no more than
sixty percent (60%) AMI.
c.Repayment of Funds; Recoupment. If any funds provided to Grantee
were used in a manner that is not consistent or allowable as outlined in
this Agreement, Grantee shall return funds to City in the amount
determined to be ineligibleat the then-value of funds disbursed (e.g., 2035
value of $900,000.00 in 2025. Grantee further agrees that it is financially
responsible for and will repay the City any and all indicated amounts
following an audit exception(i.e., breakdown of internal controls that may
result in failure to meet grant outcomes) which occurs due to Grantee’s
failure, for any reason, to comply with the terms of this Agreement. This
duty to repay the City shall not be diminished or extinguished by the
termination of the Agreement.
i. If the Certificate of Occupancy is not obtained byMay 1, 2029or the
units subject to this Agreement, or units reserved for households
per the terms of this Agreement for the entire period (at least 50
years), Grantee agreesto repay the entiredisbursement provided,
plus interest, unless such interest is otherwise waived by the
Renton City Council, upon receipt of repayment demandby the City
of Renton.
ii. In the event of repayment demand, the award disbursed shall bear
interest at the rate of twelve percent (12%) per annum from the date
of the execution of the Agreement. The repayment of the
disbursement with interest shall not excuse or cure any default by
Grantee under the Agreement.
iii. If the interest rate specified is higher than the rate then permitted
by law, the interest rate shall be decreased to the maximum legal
interest rate then permitted by law.
2. Term.This Agreement shall be in effect from the date of mutual execution, or May 1,
2025, whichever is later and terminate fifty (50)years from the date of execution or
May 1, 2075, whichever is later. This term may be extended by mutual written
agreement as described in , or the Agreement may be earlier terminated according
to the process and terms at paragraph 3.
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3. Termination.
The City reserves the right to terminate this Agreementas follows:
a. Termination for convenience. The City reserves the right to terminate this
Agreement prior to disbursement of funds with thirty (30) days advance
notification to SSHA.
b. Termination for lack of appropriation or allocation of funds. The City
reserves the right pursuant to 1.a.iv. of this Agreement.
c. Termination for Breach. The City reserves the right to terminate this
Agreement in the event SSHA fails to meet material terms of this
Agreement during its term.
d. Repayment. In the event of Termination after disbursement of any funds,
such Termination will result in an immediate demand for all disbursed
funds, with interest pursuant to 1.c.ii of this Agreement.
4. Scope of Work. Pursuant to Exhibit A, attached hereto, Grantee shall construct six
(6) townhomes with no fewer than three (3) bedrooms within each unit. All units are
reserved forhouseholds that are eligible under RCW 82.14.530 and with a household
income not more than 60% of the King County median income; this reservation will
be in place for the entire term of this Agreement. With respect to the Steele House
Townhome Development Project, and for the entire term of the Agreement, Grantee
agrees to:
a. construct the Steele House Townhome Development Project
substantially as presented to the City in Exhibit A – attached hereto and
incorporated by reference (six (6)-unit townhomewith no fewer than three
(3) bedrooms within each unit); and
b. to the extent that Grant funds under this Agreement are used for
construction, to comply with Washington state prevailing wage
requirements for residential constructionfor the entire project (all 6units);
and
c. submit a copy of the Certificate of Occupancy for the Project not later than
May1, 2029;and
d. rent all residential dwelling units in the Project to populations eligible
under RCW 82.14.530; and
e. submit an annual written certification and reportto the CEDAdministrator
identified in paragraph 11not later than May 31for the preceding calendar
year including such information the City may deem necessary or useful,
and at a minimum to include:
i. Certification that Grantee has been in compliance with affordable
housing requirements and other responsibilities described in this
Agreement; and
ii. Breakdown of rental units leased during the year; and
iii. Household income for each dwelling unit during the year; and
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iv. The City will accept annual certification and reports in a form
Grantee provides to regulatory agencies; and
f. Execute and record restrictive covenant in a form acceptable to the Cityto
maintain units as affordable under the terms of this Agreement.
5. Grantee Responsibilities.
a. Grantee understands and agrees that funds provided under this
Agreement may only be used in compliance with RMC 5-10 and RCW
82.14 and any other applicable provisions of law.
b. The Grantee understands and acknowledges that providing false
information on any documents submitted to the City or its designees as
part of the Grantee’s participation in the Grant may constitute fraud,
justify termination of this Agreement, trigger the Grantee’s obligation to
return funds, and may be subject to civil and/or criminal penalties and/or
sanctions.
c.No Employee Relationship. The Grantee understands and acknowledges
thatneither the Grantee nor any officer, employee or agent of the Grantee
shall be considered to be an employee of the City, nor entitled to any
benefits accorded City employees, by virtue of the services provided
under this Agreement. The City shall not be responsible for assuming the
duties of an employer with respect to the Grantee or any employee of the
Grantee.
d.Non-discrimination.During the performance of this Agreement, Grantee
and its subcontractors shall comply with all federal and state
nondiscrimination laws, including but not limited to, chapter 49.60 RCW,
Washington’s Law Against Discrimination, and 42 U.S.C. 12101 et seq.,
the Americans with Disabilities Act (ADA). In the event of Grantee’s
noncompliance or refusal to comply with any nondiscrimination
law,regulation, or policy, this Agreement may be rescinded, canceled, or
terminated in whole or in part.
e. Insurance. SSHA shall procure and maintain for the duration of the
Agreement, insurance against claims for injuries to persons or damage to
property which may arise from or in connection with performance of the
work hereunder by SSHA, their agents, representatives, employees or
subcontractors.
i. No Limitation: The maintenance of insurance by SSHA, as required
by this Agreement, shall not be construed to limit the liability of
SSHA to the coverage provided by such insurance, or otherwise
limit Renton’s recourse to any remedy available at law or in equity.
ii. SSHAshall secure and maintain:
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1. Commercial general liability insurance in the minimum
amounts of $1,000,000 for each occurrence/$2,000,000
aggregate for the Term of this Agreement.
2. Professional liability insurance, in the minimum amount of
$1,000,000 for each occurrence, shall also be secured for any
professional services being provided to Renton that are
excluded in the commercial general liability insurance.
3. Automobile Liability insurance: With a minimum combined
single limit for bodily injury and property damage of $1,000,000
for each accident. This is required of all SSHA and professional
service providers where a vehicle will be used on the contract.
Renton may request a copy of Consultant’ driving record
abstract.
4. Workers’ compensation coverage, as required by the Industrial
Insurance laws of the State of Washington, shall also be
secured.
5. It is agreed that on SSHA’s commercial general liability policy,
the City of Renton will be named as an Additional Insured on a
non-contributory primary basis. Renton’s insurance policies
shall not be a source for payment of any SSHA Contractor
liability.
6. Subject to Renton’s review and acceptance, a certificate of
insurance showing the proper endorsements, shall be delivered
to Renton before executing the work of this Agreement.
7. SSHA shall provide Renton with written notice of any policy
cancellation, within two (2) business days of their receipt of
such notice.
8. Termination: Notwithstanding any other provision of this
Agreement, the failure of SSHA to comply with the above
provisions of this section shall subject this Agreement to
immediate termination without notice to any person in order to
protect the public interest.
9. Subcontractors. SSHA shall ensure that each subcontractor of
every tier obtain at a minimum the same insurance coverage
and limits as stated herein for SSHA.
6. Scope of Eligible Expenditures:
a. Grant funds awarded under this Agreement may only be used to pay or
reimburse expenditures directly related to the construction of residential
dwelling units of the Steele House Townhome Development Project.
Specifically, expenses to be reimbursed may include Grantee-accepted
invoices from the primary construction contractor dating from the time
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such contract was entered, which may pre-date the date of execution of
this contract butin any casewere invoiced to Grantee not earlier than May
1, 2025.
b. Grant funds awarded under this Agreement may be lent by Grantee to an
entity in which Grantee retains sole management control (e.g., sole
general partner in an LLC or sole partner in a Limited Partnership) for the
purposes of the Scope of Work, so long as the entity complies with all
terms of this Agreement.
c. No grant funds awarded under this agreement shall be used to pay or
reimburse costs for expenditures for which Grantee has received any
other funding, whether state, federal or private in nature, for that same
expense.
7. Location of Project.
a.King County Tax Parcel Number: 7227801475
b.Legal Description: RENTON HIGHLANDS # 2 CORRECT PLAT
8. Records: Maintenance, Access, Disclosure
a. Grantee shall maintain all records and accounts with respect to all
matters covered by this Agreement, including personnel, property,
financial, and programmatic records and documents sufficient to
evidence compliance with RMC 5-10 and RCW 82.14 regarding the
foregoing. At a minimum, retained records shall include:
i. Notice of Grant Award;
ii. A copy of this Agreement;
iii. Correspondence regarding budget revision requests;
iv. Copies of all invoices and reports submitted to the City of Renton
for this project.
b. These records shall be maintained for as long as may be required by
applicable Washington State records retention laws, but in any case for a
period of six (6) years after termination of this Agreement, whichever is
later, to ensure proper accounting for all funds and compliance with the
Agreement.
c. If any litigation, claim or audit is started before the expiration of the six (6)
year period provided in Section 5(b) above, the records shall be retained
untilall litigation, claims, or audit findings involving the records have been
resolved.
a. The Cityor their authorized representative(s)shall have the right of access
to records (electronic and otherwise) of Grantee in order to conduct audits
or other investigations.
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b. Grantee acknowledges that records may be subject to disclosure under
the Public Records Act, Ch. 42.56 RCW.
i. To the full extent the City determines necessary to comply with the
Washington State Public Records Act, Grantee shall make a due
diligent search of all records in its possession or control relating to
this Agreement and the Work, including, but not limited to, e-mail,
correspondence, notes, saved telephone messages, recordings,
photos, or drawings and provide them to the City for production.
ii. In the event Grantee believes said records need to be protected
from disclosure, it may, at Grantee’s own expense, seek judicial
protection. Grantee shall indemnify, defend, and hold harmless
the City for all costs, including attorneys’ fees, attendant to any
claim or litigation related to a Public Records Act request for which
Grantee has responsive records and for which Grantee has
withheld records or information contained therein, or not provided
them to the City in a timely manner.
iii. Grantee shall produce for distribution any and all records
responsive to the Public Records Act request in a timely manner,
unless those records are protected by court order. The provisions
of this section shall survive the expiration or termination of this
Agreement.
6. Disclaimer by the City.The City expressly disclaims any and all responsibility or liability
to Grantee or third persons for the actions of Grantee or third persons resulting in
death, bodily injury, property damages, or any other losses resulting in any way from
the performance of this Agreement or any other losses resulting in any way from the
performance of the Agreement, or any subcontract thereto. This Agreement does not
in any way establish an agency relationship between or among the City and/or
Grantee.
7. Conflict of Interest.
a. Grantee designees, agents, members, officers, employees, consultants,
and any other public official who exercises or who has exercised any
functions or responsibilities with respect to the Program during his or her
tenure, or who is in a position to participate in a decision-making process
or gain inside information with regard to the Program, are barred from any
interest, direct or indirect, in any grant or proceeds of the Program, or
benefit there from, which is part of this Agreement at any time during or
after such person's tenure.
b. The City’s Code of Ethics and Washington State law prohibit City
employees from soliciting, accepting, or receiving any gift, gratuity or favor
from any person, firm or corporation involved in a contract or transaction.
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To ensure compliance with the City’s Code of Ethics and state law, the
Grantee shall not give a gift of any kind to City employees or officials.
Grantee also confirms that Grantee does not have a business interest or a
close family relationship with any City officer or employee who was, is, or
will be involved in selecting the Grantee, negotiating or administering this
Agreement, or evaluating the Grantee’s performance of the Work.
8. Waiver/Conflict of Terms.
a. Any waiver by the Grantee or the City of the breach of any provision of this
Agreement by the other party will not operate, or be construed, as a waiver
of any subsequent breach by either party or prevent either party from
thereafter enforcingany such provisions.
b. In the event of any inconsistencies between Grantee proposals and this
Agreement, the terms of this Agreement shall prevail. Any
exhibits/attachments to this Agreement are incorporated by reference
only to the extent of the purpose for which they are referenced within this
Agreement. To the extent a Grantee prepared exhibit conflicts with the
terms in the body of this Agreement or contains terms that are extraneous
to the purpose for which it is referenced, the terms in the body of this
Agreement shall prevail and the extraneous terms shall not be
incorporated herein.
9. Modification. This Agreement may only be amended by written agreement signed by
both Parties.
10.Notices. Any notice required under this Agreement will be in writing, addressed to the
appropriate party at the address which appears below (as modified in writing from
time to time by such party), and given personally, by registered or certified mail,
return receipt requested, by facsimile or by nationally recognized overnight courier
service. Time period for notices shall be deemed to have commenced upon the date
of receipt, EXCEPT facsimile delivery will be deemed to have commenced on the first
business day following transmission.
Email and telephone may be used for purposes of administering the Agreement, but
should not be used to give any formal notice required by the Agreement.
CITY OF RENTON
Matt Herrera, Planning Director
City of Renton
GRANTEE
Ann Allen, Executive Director
St. Stephen Housing Association
13055 SE 192nd St
Renton, WA 98058
PAGE 10 OF 14
Department of Community & Economic
Development
1055 South Grady Way
Renton, WA 98057
(425) 430-6593
mherrera@rentonwa.gov
(253) 638-9798
aallen@ststephenhousing.org
11.Successors and Assigns: Neither the City nor the Consultant shall assign, transfer or
encumber any rights, duties or interests accruing from this Agreement without the
written consent of the other.
12.Severability. In the event any term or condition of this Agreement or applicationthereof
to any person or circumstances is held invalid, such invalidity shall not affect other
terms, conditions, or applications of this Agreement that can be given effectwithout
the invalid term, condition, or application. To this end, the terms and conditions of
the Agreement are declared severable.
13.Governing Laws.Any lawsuit or legal action brought by any party to enforce or interpret
this Agreement or any of its terms or covenants shall be brought in the King City
Superior Court for the State of Washington at the Maleng Regional Justice Center in
Kent, King City, Washington, or its replacement or successor.
14.Indemnification. To the maximum extent permitted by law,Grantee shall, at its cost and
expense, protect, defend, indemnify, and hold harmless the City, its directors,
officers, employees, and agents, from and against any and all demands, liabilities,
causes of action, costs and expenses (including attorneys’ fees), claims, judgments,
or awards of damages, arising out of or in any way resulting from the acts or
omissions of Grantee, its directors, officers, employees, or agents, relating in any
way to Grantee’s performance or non-performance under the Agreement. Grantee
agrees that its obligations under this paragraph extend to any demands, liabilities,
causes of action, or claims brought by, or on behalf of, any of its employees or
agents. For this purpose,Grantee, by mutual negotiation, hereby waives, as respects
the City only, any immunity that would otherwise be available against such claims
under any industrial insurance act, including Title 51 RCW, other Worker’s
Compensation act, disability benefit act, or other employee benefit act of any
jurisdiction which would otherwise be applicable in the case of such claim. These
indemnification obligations shall survive the termination of the Agreement.
a.SSHA Agency Indemnification. SSHA represents to Renton that it has or
will have adequate supervision and that all applicable rules, regulations,
statutes and ordinances will be complied with in their entirety. SSHA
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agrees to indemnify, hold and defend Renton, its elected officials, officers,
employees, agents and volunteers harmless from any and all claims,
demands, losses, actions, violations and liabilities (including costs and all
attorney’s fees) to or by any and all persons or entities, including without
limitation, their respective agents, licensees, or representatives, arising
from, resulting from, or connected with the Agreement to the extent
caused by the negligent acts, errors, or omissions of SSHA, its partners,
shareholders, agents, employees, or by SSHA’sbreach of this Agreement.
SSHAwaives any immunity that may be granted to it under the Washington
State Industrial Insurance Act, Title 51 RCW. SSHA’sindemnification shall
not be limited in any way by any limitation of the amount of damages,
compensation, or benefits payable to or by any third-party under workers’
compensation acts, disability benefit acts, or any other benefits acts or
federal, state or municipal benefits programs.
b. SSHA agrees that it is as fully responsible to Renton for the acts and
omissions of its subcontractors and their employees and agents, as it is
for the acts and omissions of its own employees and agents.
15.Joint Drafting Effort. This Agreement shall be considered for all purposes as prepared
by the joint efforts of the Parties and shall not be construed against one party or the other
as a result of the preparation, substitution, submission or other event of negotiation,
draftingor execution.
16.Third-Party Beneficiaries. Nothing in this Agreement is intended to, nor shall be
construed to give any rights or benefits in the Agreement to anyone other than the
Parties, and all duties and responsibilities undertaken pursuant to this Agreement will
be for the sole and exclusive benefit of the Parties and no one else.
17.Binding Effect. The Parties each bind themselves, their partners, successors, assigns,
and legal representatives to the other party to this Agreement, and to the partners,
successors, assigns, and legal representatives of such other party with respect to all
covenants of the Agreement.
18.Complete Agreement. This Agreement sets forth the complete expression of the
agreement between the Parties, and any oral representations or understandings not
incorporated herein are excluded. The Parties may execute this Agreement in any
number of counterparts, each of which shall constitute an original, and all of which
will together constitute this one Agreement.
**SIGNATURE PAGE TO FOLLOW **
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IN WITNESS WHEREOF, the Parties have voluntarily entered into this Agreement as of the
date last signed by the Parties below.
CITY OF RENTON
By:_____________________________
GRANTEE
By:____________________________
Armondo Pavone
Mayor
Ann Allen
Executive Director
_____________________________
Date
_____________________________
Date
Attest
_____________________________
Jason A. Seth
City Clerk
Approved as to Legal Form
By: __________________________
Shane Maloney
City Attorney
5-5-20256/24/2025
Approved by Patrice Kent via email 4/28/2025
PAGE 13 OF 14
CITY OF RENTON
STEELE HOUSE TOWNHOME DEVELOPMENT PROJECT
ST. STEPHEN HOUSING ASSOCIATION/WAY BACK INN FOUNDATION
EXHIBIT A
PROJECT NARRATIVE AND BUDGET
Project Title: Steele House Townhome Development
Project
Funding Start Date:
May 1, 2025 (tentative)
Address: 3001 NE 16th St. Renton Amount of requested funding:
$500,000
Legal Description: RENTON HIGHLANDS # 2 CORRECT PLAT
City Contact: Margarette Bravo, Planning Technician
425 430 6555/mbravo@rentonwa.gov
SSHA Contact: Ann Allen, Executive Director
(253) 638-9798/aallen@ststephenhousing.org
Name of Grantee Signatory: Ann Allen, Executive Director-St. Stephen Housing
Association
1.Project Narrative and Scope summary
The Steele House Project is the planned building of six (6)townhomes comprised of
three (3) bedroom units for families experiencing homelessness for permanent housing
on existing owned property).. Property overview: The property is already owned by the
project sponsor and currently a duplex is on the site. The address is 3001 NE 16th,
Renton, 98056. The property was purchased in 2016. The existing structure is a 1940’s
era duplex. The plan includes demolition of current structure. Phase 1 ESA has been
completed.The neighborhood is characterized by a diverse mix of economic classes
and races, reflecting the diversity of the families we intend to serve. The Steele House
project is expected to have a positive impact on the surrounding community. By
providing stable housing to families experiencing homelessness, we will contribute to
the overall well-being of the neighborhood.
2. Goal of the project
By addressing homelessness and providing stable housing, Steele House will help
improve the quality of life for both the families we serve and the broader community.
Larger three-bedroom units will be available to accommodate families with children
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and multigenerational households. To ensure the safety of at-risk families experiencing
interpersonal violence, units will include attached enclosed garages. The project's
focus on helping families through low-income housing onto long term permanent
housing and breaking the cycle of poverty is a powerful strategy for promoting
community integration. By addressing fundamental needs like economic stability and
educational opportunities, the project empowers families to become active and
contributing members of the broader community.
3.Cost and Timeline
The property is owned by St. Stephen Housing Association (acquired through he merger
with Way Back Inn). It is valued at $638,000 and SSHA has allocated an additional
$500,000 for support for the operating cost of the facility. SSHAanticipates the total
project cost to be approximately $3,000,000 for complete development and
construction of the project. The $500,000 seed funding will cover the initial costs for
final architectural design, submission for permit approval and the beginning stages of
construction. SSHA committed to leveraging these funds in collaboration with other
private and public partners to ensure that the project remains on budget and is
completed on time. SSHA will also be pursuing both public and private funds to begin
construction as funding becomes available, ideally by end of 2025 or early 2026.
Budget Breakdown
Task Estimated Budget
1. initial costs for final architectural
design, submission for permit approval
(Architecture design is about $50k and
anticipated permits is approx. $50k.
$100,000
2. Initial stages of construction ($25k
demo and rest for site improvements
needed for construction (e.g. Storm
drainage, sewer line, water line, meter
upgrade, sidewalk and driveway paving).
$400,000
Total $500,000