Fiscal Note
The proposed resolution approves the funding allocations recommended by the Community Development Division (CDD) as a result of the 2025 Affordable Homeownership Request for Proposals (RFP): Financing for Affordable Homeownership Development, Programs, and Services.
Funding for the contracts outlined in the proposed resolution total $6,310,450. The contracts would utilize up to the amounts listed below in each of the funds:
Affordable Housing Fund (MUNIS capital program #17110): $2,970,000
HOME (MUNIS operating program #72000): $2,990,450
Community Development Block Grants (MUNIS operating program #71000): $300,000
General Fund (MUNIS operating account #67214-54820-00000): $50,000
The proposed resolution further authorizes the sale of 10 City-owned vacant lots in the Owl Creek subdivision. This action is consistent with previous Council action to address housing and neighborhood conditions in the Owl Creek area (see Legistar 32151, adopted 11/19/2013), and it is consistent with the City-wide strategy of supporting the development of a wider mix of housing types, sizes, and costs throughout the city. Legislative file 34538 authorized the purchase of these and other lots in the subdivision in 2014. Any proceeds from the sale of the lots will be deposited in the General Land Acquisition Fund.
CDD's 2026 Adopted Capital and Operating Budgets and carryforward in the Community Development Grants Fund from 2025 will sufficiently cover these contracts. No additional appropriation is required.
Title
Awarding up to $2,970,000 of City Affordable Housing Funds, up to $2,990,450 in Federal HOME Investment Partnerships Program (HOME) Funds, up to $300,000 in Federal Community Development Block Grant (CDBG) Funds, and up to $50,000 in City Levy Funds, all authorized in the City’s 2026 Adopted Capital and Operating Budgets, to finance the development of up to 27 affordable owner-occupied housing units and fund five (5) homeownership service programs, and autho...
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