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AHAB revenue subcommittee forms plan to research new funding for affordable housing
Summary
Members of the Affordable Housing Advisory Board’s revenue subcommittee met to clarify that a recent sales-tax increase did not raise the trust fund, set a work plan to research alternative revenue models and scheduled a follow-up meeting for Sept. 11.
The Affordable Housing Advisory Board (AHAB) revenue subcommittee met virtually and agreed to research additional revenue sources for the city’s affordable housing trust fund, after staff confirmed a recent voter-approved sales-tax increase is not increasing the trust fund’s current allocation.
The clarification came as the panel — chaired by Christina Gentry, Chair, Affordable Housing Advisory Board Revenue Subcommittee — took its first meeting under new advisory-board public-meeting rules and sketched a work plan to analyze other cities’ funding models.
"But I'm here for the discussion and any ideas or any other notes and next steps that we can take in this group," Gentry said at the start of the session.
Why it matters: residents and AHAB members said many voters expected the recent sales-tax increase to produce more money for on-the-ground housing construction. Instead, staff said the new revenue stream is being routed to homelessness services and the trust fund’s annual allocation has not changed. The subcommittee will compile comparative research and present recommended revenue options to the full AHAB.
Leah, a staff member supporting AHAB, told the group that "right now, our sole revenue source is through the…
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