DEPARTMENT: Neighborhood and Housing Services
DEPARTMENT HEAD: Ver?nica R. Soto, AICP
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
Briefing and possible action on the City's Affordable Housing Business Plan progress for the month of February 2019
SUMMARY:
Briefing and possible action on the City's Affordable Housing Business Plan progress for the month of February 2019
BACKGROUND INFORMATION:
The FY 2019 Adopted Budget includes $25 million for Affordable Housing initiatives including $17 million in new funding. The $25 million budget includes $11.7 million for housing preservation and repair, $3.2 million for homebuyer assistance, $1.4 million to develop a coordinated housing system, $7.7 million for gap financing, and a $1 million risk mitigation fund. In November, the City received a $1 million private sector donation for additional funding for our Under 1 Roof program.
ISSUE:
Below is a table that summarizes the implementation status for the 10 housing-related activities that are included in the FY 2019 Affordable Housing Business Plan. Following the table are summary paragraphs that provide updates on each activity.
Activity
2019 Status
(October through February)
Under 1 Roof Program Delivery
On Schedule
146 of 146 Roofs Completed
Owner Occupied Rehab Program Delivery
On Schedule 6 of 6 Home under Contract
Affordable Housing Coordination across all Housing Entities
On Schedule
Housing Trust & PFC Strategic Plan Development
On Schedule
Develop a Risk Mitigation Fund Policy
On Schedule
Homebuyer Assistance & Counseling Programs
Behind Schedule 54 of 97 Clients Completed
Gap Financing awards for new Affordable Rental and Homeownership Development Projects
Completed
Consolidate City Housing Staff into the Neighborhood and Housing Services Department (NHSD)
Completed
Reconstitute the Housing Commission
Completed
LISC Support Contract Execution
Completed
Homebuyer Assistance & Counseling Progra...
Click here for full text