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Council retreat: staff outlines $250,000 incentive pool, CHAP bond plan and dedicated affordable-housing accounts
Summary
Housing staff described a $250,000 allocation for the city’s incentive policy for affordable housing, ongoing reservation requests totaling about $1 million, and a proposed $7 million bond-backed homebuyer assistance program. Staff said year-to-year rollovers and one-time sources have been used to support projects when requests arrive.
Sarah Darv, speaking for housing staff at the retreat, described multiple budget actions and programs intended to support affordable housing development and preservation.
“This year, [we] allocated $250,000 towards [the incentive policy for affordable housing],” she told the council. Staff said that the incentive program operates by reservation: developers submit reservation requests and the city budgets against anticipated demand. Housing staff said the reservations list currently totals about $1…
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