Housing department reports $3.7 million invested in first half of fiscal year; $4.8 million in ARPA developer subsidy remains in pipeline

City housing staff told the commission on May 1 that the city has invested roughly $3.7 million in housing programs across the first two quarters of the current fiscal year and that several ARPA-backed developer projects are moving toward construction and closings.

Corey Harris, director of Housing and Community Development, briefed commissioners on federal, state and local funding sources — including CDBG, HOME, ARPA, and SHIP — and provided updates on major projects that the city’s ARPA developer subsidy is helping to advance.

Harris said about $4.8 million remains in the ARPA developer subsidy pipeline, and the largest share of that support is slated for the Wilton Park Phase II project led by the housing authority. He said Woodland Park had received HUD approvals to relocate tenants and was scheduled for a financial closing in mid-May, contingent on bond financing and other sources. Harris described that project as a multimillion-dollar undertaking in the $20–$30 million range and said the city’s contribution functions as seed subsidy.

Harris said the Community Land Trust initiative is showing early results: the CLT had completed and sold two homes and built additional for-sale units, and a ribbon-cutting was scheduled for May 21 at 703 SW Fifth Terrace. He said one project expected a certificate of occupancy in early May. The CLT has received a $1 million city contribution plus CDBG funding, Harris said.

Harris reviewed local housing-preservation programs, noting 36 owner-occupied rehabilitation projects were in the pipeline and that the city processed roughly $1.8 million investment in the first quarter and $1.9 million in the second quarter — a $3.7 million total for six months. He said the city had released a Notice of Funding Availability for a $1.6 million competitive subsidy pool, received 21 applications totaling about $8.1 million in requests, and planned to return to the commission with funding recommendations on June 5.

Commissioners asked clarifying questions about the CLT model and funding sources; Harris described the CLT as a shared-equity model in which the trust retains land ownership and homeowners hold long-term leases to keep units affordable in perpetuity. No public speakers signed up on the housing update and commissioners expressed support for the department’s progress.

Harris and staff also outlined early-action uses for HOME-ARP funding, including a collaborative redevelopment of five lots and a procurement strategy for operators of an upcoming shelter/assisted-housing site that will serve people experiencing or at risk of homelessness, survivors of domestic violence, and related populations.

Staff said some federal and state funding allocations for the next fiscal year remained uncertain; staff will return with project-level funding recommendations and a June 5 presentation on the competitive subsidy awards.