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Commission debates $2 million land‑bank MOU to support medical‑district and South Side housing
Summary
Commissioners revisited a memorandum of understanding that would direct $2 million to the land bank for housing initiatives, discussing a split that would support the medical district and city‑adjacent properties on the South Side; staff said the funding would leverage additional developer activity and that the MOU language will be revised.
The City of Albany Commission on June 3 revisited a proposed memorandum of understanding (MOU) to direct $2 million to the land bank authority for housing initiatives, and commissioners debated how best to allocate that funding between the medical district and city‑adjacent South Side neighborhoods.
City Attorney Michael Custer presented the revised MOU and reminded the commission the $2 million allocation had been discussed in prior meetings. Commissioners discussed splitting the funds so $1 million would be applied to projects in or adjacent to the medical district and the remaining $1 million would be used near city‑owned assets and investment areas such as Story Road, District Park, Dressler Gym, Ragsdale Park and other South‑Side sites.
Mayor Pro Tem John Howard and other commissioners said the allocation should stimulate housing and development on the South Side. Staff noted this funding approach followed retreat conversations and that the city would pair the allocation with other sources, including year‑end settlement monies and land bank funds, to leverage private development.
City manager and staff said the land bank would be the conduit for offers and developer agreements in defined areas and that the city already has a contracted firm to develop certain spec houses in the medical‑district project. Later in the meeting staff reported that a developer had purchased 18 lots in Ragsdale and was preparing plans with permits expected soon; staff said ground‑breaking was anticipated in the upcoming weeks.
Commissioners asked for clarifying language in the MOU about which entity would shepherd funds for the medical district and asked that staff modify the redlined paragraph before returning the MOU for formal approval. No final vote to approve the MOU was recorded at the work session.
Ending: Staff said it would revise the MOU language to reflect the agreed allocation approach and return a revised document for further review.
