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Flagstaff prepares to launch bond-funded homebuyer assistance program CHAP B
Summary
City staff said a contractor has been selected to administer CHAP B and funds should be available to qualified homebuyers within weeks; permanent affordability details will return to the commission.
The City of Flagstaff’s housing office told the Housing Commission that bond-funded homebuyer assistance called CHAP B will be available to mortgage-ready, income-eligible buyers in the coming weeks.
Adrianna Fisher, housing program manager, said Housing Solutions of Northern Arizona was the successful proposer to administer the program and the city is finalizing a contract. “We anticipate that the funds will be accessible to the public in the next couple of weeks,” Fisher said.
The program will provide loan assistance up to $50,000 per household, Fisher said. The loans are not forgivable and require a 10-to-1 match: a $5,000 contribution from the homebuyer unlocks the full $50,000 assistance. Recipients must occupy the home as their primary residence. Fisher said the Housing Solutions application currently in use will be used for the bond program once the contract is complete.
Commissioners and staff said the program is being rolled out in phases to move money more quickly. Sarah Darr, speaking as housing authority staff, described the implementation split as phase 1 for immediate disbursement and a later phase addressing permanent affordability and pilot details that could slow launch. Darr said staff will return to the commission with those permanent-affordability details.
The commission did not take formal action on the presentation; staff characterized the item as an informational update and said a contract remains to be finalized before outreach begins.
