Committee reviews trust fund balance, approves 847 Gum Street repairs and sets homeowner-priority goal

Summary

The committee reviewed the Affordable Housing Trust Fund balance, discussed timing for the mayor—9s $1 million allocation and TruVest loan payoff, approved a $25,000 grant and $7,040 loan for home repairs at 847 Gum Street, and set a goal to prioritize roughly half of funds for owner-occupied rehabs in 2025.

Advisory committee members reviewed the Affordable Housing Trust Fund—9s current balance and obligations, discussed immediate uses for remaining unencumbered funds, approved a home-repair award for 847 Gum Street and agreed on a target to prioritize homeowner-occupied rehabs.

Corey, Department of Metropolitan Development staff, presented the committee—9s financial summary. "We—9ve got, the total cash on hand is 909,257 and 13 cents," he said, and described additional anticipated funds including a mayoral allocation of $1,000,002.71, a $14,950 donation from the Urban Enterprise Association earmarked for a Jacobsville home-repair project, and a TruVest loan payoff expected in June of $256,659.27. Corey explained that once all revenues post and allocated items are subtracted, the committee—9s available…

Committee reviews trust fund balance, approves 847 Gum Street repairs and sets homeowner-priority goal

Summary

Subscribe to keep reading