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
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 authorize the sale of ten (10) City-owned vacant residential lots as the recommended outcomes of a competitive Request for Proposals (RFP) process conducted by the Community Development Division; and authorizing the Mayor and City Clerk to enter into agreements to implement the approved development and service activities. (District 15, District 16 & Citywide)
Body
Background
The City of Madison’s adopted Capital and Operating Budgets include funding to support the development of affordable homeownership opportunities and to provide housing services that assist low- and moderate-income households in accessing and sust...
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