The Columbia Housing Authority asked for additional low-income housing tax credits to finish the Bryant Walkway apartment renovation project.
CHA requested $40,000 in credits from the Missouri Housing Development Commission after the project came in at a cost more than what was budgeted. MHDC approved $28,000 in tax credits which equals $280,000 over 10 years. The commission is also giving a one-time amount of $50,000.
The housing authority is allocating $50,000 of its own money.
“There have been significant cost overruns on the Bryant Walkway project due to unforeseen structural issues,” said Columbia Housing Authority CEO Phil Steinhaus in a staff memo.
Structural issues, termite damage, rotting wood, additional abatement of floor tile, removal of siding and enforcement of new city codes have caused problems in completing the project, he said.
Steinhaus said the project is over budget by $212,945 and expects another $171,230 will be needed to complete the renovations.
The housing authority is reconsidering renovations planned at Providence Walkway.
Steinhaus said Bryant Walkway and Providence Walkway were both built in the 1960s and have similar floor plans. He said he fears Providence Walkway could have similar issues to Bryant Walkway such as termite damage or wood rot.
“We anticipate we would have higher costs for renovations than would probably be equal to or perhaps even more than new,” he said.
Steinhaus said the CHA is looking into fully replacing Providence Walkway buildings instead of renovating.
The housing authority plans to meet Tuesday at 5:30 p.m.