Fiscal Note
The City (including the CDA) does not envision, nor has included in its operating or capital budgets, any proposed expenditures related to the operations of a Single Room Occupancy housing development. The 2014 Executive Capital Budget of the Planning and Community and Economic Development agency (PCED) does include $300,000 in General Obligation borrowing in 2014 for planning and pre-development costs for a two-phase development of up to 100 to 110 apartments for homeless adults, and funding of $3,900,000 in 2015/16 in anticipation of construction. Sufficient capital funding for the project is dependent upon Section 42 tax credit credits. A successful Section 42 tax credit application will require, in part, a demonstration that both a qualified project developer and project operator are part of the project in order to ensure residents are properly served. Therefore, the issuance of the RFQ is one component that may help lead to project fruition.
Title
Direct The Community Development Authority of the City of Madison (“CDA”) to draft and issue a request for qualifications (“RFQ”) for property management, case management, and supportive services relating to housing for homeless adults.
Body
WHEREAS, on March 19, 2013 the Council passed resolution number 13-00226 directing Planning, Community Development and CDA staff to explore locations, financing, and partnership options for the development of additional single-room occupancy housing for very low income people within the City of Madison (the “SRO Report”); and
WHEREAS, in June of 2013 staff submitted the SRO Report and after review and comments by the Housing Strategy Committee, the CDA, and the CDBG Committee, the Council accepted the SRO Report; and
WHEREAS, the SRO Report set forth various Scenarios for developing low cost housing with accompanying case management and supportive services; and
WHEREAS, the report identified Affordable Housing Tax Credits as a key component of financi...
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