RES 231370 - Laserfiche WebLink

Use the lower-income-housing fee to generate funds for the provision of housing affordable to extremely low-,low-and very low-income households.The low-income housing fund should be used primarily to Phase 1 of Kottinger Gardens,which utilized Lower Income Housing Funds,was Program 18.3:Use the leverage State and Federal funds in the completed and fully leased up in July 2017. Unused Lower Income Housing Funds from Lower Income Housing Fund development of housing affordable to low- Phase 1 was transferred to Phase 2,which began construction in January 2018 and to help build housing and very low-income households and in- completed in September 2019. In addition the City Council approved an Affordable affordable to low-and very house loan programs,so that the fund may As needed/Ongoing Housing Agreement that included the dedication of 1.64 acres of land to the City to be low-income households on be used most efficiently and maintained used in partnership with SAHA/Sunflower Hill on a future residential affordable housing City owned land. over time. When considering allocation of development for individuals with developmental disabilities which was completed in 2020. these funds,priority will be given to non- The City committed$2.25 million from the fund for the Sunflower Hill project. profit housing developers with a project including three bedroom units affordable to large extremely low,low-and very low- income households.