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Council hears Housing Forward Fund report, asks for details as emergency repairs and senior projects move forward
Summary
Councilors questioned city housing staff about emergency repairs to city‑owned apartments, the Housing Forward Fund balance, and plans for new senior housing projects; the council approved several housing development agreements and requested more financial breakdowns.
The Albuquerque City Council on April 21 received the Housing Forward Fund fiscal year 2025 report and pressed housing officials about the fund’s cash balance, emergency repair costs and the city’s strategy for owning versus subsidizing new affordable housing.
Housing staff told councilors the portfolio’s committed and expended total is about $23 million and that the apartment fund — the internal operating reserve for city‑owned rentals — typically holds about $500,000 for emergencies. Councilors asked about a recent large unanticipated repair at the Beach Apartments (reported as a $3.33 million repair bill), and staff described late discovery of structural deterioration caused in part by an…
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