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Flagstaff staff present $250,000 housing-incentive allocation, $7 million CHAP bond request and other housing tools
Summary
City housing staff reviewed incentive-pay funding for affordable housing development, a $7 million bond request for homebuyer assistance, continuation of employer-assisted programs and a housing pipeline of reservations that totals about $1 million in requests.
Sarah (housing staff) briefed the council on the city’s affordable-housing funding portfolio, including a $250,000 allocation for an incentive-pay program for developers, an ongoing employer-assisted housing program and a $7,000,000 request for a CHAP (Community Housing Assistance Program) bond for homebuyer assistance.
Nut graf: Staff described a mixed approach of ongoing program income, one-time bond funds and rollover of dedicated funds to support new construction, land acquisition and unit preservation. They noted a reservation list of developer requests that totals roughly $1 million but spans multiple years and projects.
Sarah said the $250,000…
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