DEPARTMENT: Neighborhood and Housing Services
DEPARTMENT HEAD: Ver?nica R. Soto, AICP
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
Briefing on the City's Affordable Housing Business Plan progress through August 2019 and the Risk Mitigation Assessment.
SUMMARY:
Briefing on the City's Affordable Housing Business Plan progress through August 2019 and the Risk Mitigation Assessment.
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. The Neighborhood and Housing Services Department has updated the Business Plan to include the City's prioritization of the anti-displacement work plans. Following the table are summary paragraphs that provide updates on each activity not completed to date.
Activity
2019 Status (October through August)
Affordable Housing Coordination Across All Housing Entities
On Schedule
Housing Trust & PFC Strategic Plan Development
On Schedule
Owner Occupied Rehab Program Delivery
Behind Schedule
19 of 38 Homes Completed
37 Homes Under Contract
Under 1 Roof Program Delivery
Behind Schedule
348 of 433 Roofs Completed
Homebuyer Assistance & Counseling Programs
Behind Schedule
202 of 227 Clients Completed
Develop a Housing Risk Mitigation Fund Policy
Completed
Gap Financing Awards for New Affordable Rental and Homeownership Development Projects
Completed
Consolidate City Housing Staff into the Neighborhood a...
Click here for full text