AGENDA ITEM EXECUTIVE SUMMARY
ITEM TITLE*
title
Approve the Recommended Funding Plan for the Affordable Housing Funding Program.
presenter
RESPONSIBLE STAFF, TITLE, DEPARTMENT*
Sarah Osmer Vi?as, Director, Affordable Housing & Community Connections (AHCC)
Emily Holt, Affordable Housing Manager, AHCC
Melissa Peters, Funding Programs Coordinator, AHCC
STAFF RECOMMENDATION*
Staff recommends that Council adopt the resolution approving the recommended funding plan for the Affordable Housing Funding Program.
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ACTION/DECISION POINTS*
Council may approve or reject the funding plan for the Affordable Housing Funding Program.
LEGISLATIVE CONTEXT*
Town Council approved the allocation of $976,000 to affordable housing activities in the 2025 Town budget.
In January of 2025, Council took action to establish a unified local Affordable Housing Funding Program (AHFP). As outlined in the latest Affordable Housing Funding Allocation Strategy, Council must approve the allocation of local affordable housing funding over $100,000.
BACKGROUND AND CONTEXT*
The Town released up to $1.3 million in local AHFP funding on February 3, 2025. This amount includes the full value of a penny on the tax rate dedicated to the AHDR in the FY 2025 budget, or $976,000, minus funding to support the Affordable Housing Manager and Funding Programs Coordinator positions and funding to provide annual operating support to the Northside Neighborhood Initiative. This also included $592,192 from unallocated funds in the Affordable Housing Funding Program. Applications were due on March 3.
This year the Town released local AHFP and federal Community Development Block Grant (CDBG) funding in the same application cycle. The Town received 14 applications totaling 3,312,927. Town staff have recommended funding 7 applications with $566,813 in CDBG funding and evaluated the remaining six applications that were eligible for AHFP funding. Town staff reviewed and evaluated these applications based on a scori...
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