Fiscal Note
Staff resources will need to be reallocated to develop the plan, but no appropriation is required for its development. Implementation of the plan may require additional budget expenditures, which will require Common Council approval.
Title
AMENDED - That the City of Madison develop a plan for reducing the demand for low-income affordable housing in Madison to be entitled "The Affordable Housing Demand Reduction Plan".
Body
Whereas, meeting the demand for affordable housing for low-income individuals is a priority within the City of Madison, and;
Whereas, the affordable housing shortage can be addressed through supply side and demand side policies,
Now, therefore be it resolved, that the City of Madison develop a plan for reducing the demand for low-income affordable housing in Madison to be entitled "The Affordable Housing Demand Reduction Plan",
Be it further resolved, that this plan targets reducing demand for housing families with incomes at or below 40% of the Dane County median income,
Be it further resolved that "The Affordable Housing Demand Reduction Plan" be developed jointly by Community Services and Community Development Block Grant Commissions and staff with input solicited from City of Madison Housing Committee, Economic Development Commission, Equal Opportunities Commission, Dane County Job Center and appropriate community service organizations. The plan shall be completed and introduced for approval by the Common Council on August 2, 2005.
Be it finally resolved, that "The Affordable Housing Demand Reduction Plan" be developed by staff, with the oversight and approval of the Community Services Commission, and that the report be completed for approval by the Common Council on August 2, 2005.