Fiscal Note
No appropriation required.
Title
SUBSTITUTE - Creating a Community Development Authority Long Range Planning Subcommittee.
Body
Preamble: Public housing and the Section 8 program are two major components of the City of Madison's affordable housing programs. Both programs are under major potential financial duress given federal funding cuts. The operating subsidy for public housing is about 89% of operating costs in 2005. In 2006 the operating subsidy is expected to be at about 80% of need. Meanwhile the Section 8 program is facing a proposed cut of $660,000 in 2006. These budgetary facts coupled with lower average rent payments received put Madison's programs on increasingly tenuous financial footing.
Meanwhile an aging public housing stock and an aging population place additional demands on affordable housing.
This situation demands careful planning to respond effectively to these public housing issues.
WHEREAS the economics of public housing appear to be in increasingly difficult straits, and
WHEREAS the future budgetary could lead to potential staff and service reductions, and
WHEREAS public housing is critical to the supply of affordable housing in our community, and
WHEREAS new financing, ownership alternatives and models of development may be necessary to alter the current budgetary dynamics to limit the impact of federal funding on the city's levy, and
WHEREAS the CDA needs to explore future partnership models and developmental opportunities, and
WHEREAS the CDA needs to assess and evaluate CDA-owned housing stock and increase the quantity and quality of services to low-income communities.
NOW, THEREFORE BE IT RESOLVED, that the Mayor and the Community Development Authority begin a long-term planning process that will identify approaches to addressing the economics of public housing and the Section 8 program, examine new models of development and service delivery, and survey potential opportunities for future development, and
BE IT FURTHER RESOLVED that the committee will look at innovative alternatives to HUD and levy funding.
BE IT FURTHER RESOLVED that the committee will look at specifics and implementation strategies, and
BE IT FURTHER RESOLVED that the committee, appointed by the Mayor, shall be comprised of seven (7) members consisting of:
One (1) member of the CDA
One (1) member from the CDA Housing Operations Subcommittee
One (1) member from the for-profit developmental community
One (1) member from the non-profit developmental community
One (1) member identified as a service provider or case manager that works with CDA populations
One (1) member that is an expert on finance
The Executive Director of the CDA (1)
BE IT FINALLY RESOLVED that this committee shall meet at least monthly and issue recommendations as appropriate. After a period of one year the Mayor and the CDA will evaluate the work plan and product and determine the committee's continued existence.