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Barnes Fund staff reports roughly $19.3M unobligated ahead of Round 16; commissioners plan work sessions and debate rehab caps
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Summary
Barnes Fund staff reported $19,282,242 in unobligated revenue available heading into Round 16 and presented a recommended timeline; commissioners agreed to pursue additional work sessions and scheduled a combined Dec. 9 meeting to finalize policy priorities.
Barnes Fund staff presented cumulative budget-to-actual financials and a recommended Round 16 timeline at the Metropolitan Housing Trust Fund Commission meeting on Oct. 28, reporting $19,282,242 in unobligated revenue expected to be available for Round 16.
James Dean (Housing Division staff) told the commission the budget presentation aggregates Barnes Fund revenue and expenses from the fund’s 2011 inception through June 30, 2025, and that the unobligated revenue figure “is at moment expected to be around [the] Round 16 funding amount.” Chair Pete Westerholm and commissioners discussed scheduling additional work sessions in mid/late November and confirmed a combined November/December meeting to be held Dec. 9 at Inglewood Library, 4312 Gallatin Pike, to finalize policy priorities and underwriting criteria.
During public comment, Keith Branson of Westminster Home Connections urged the commission not to limit owner-occupied rehab to 3% of Round 16 allocations, saying that historical Barnes Fund patterns favored new construction and rental production and that limiting rehab to 3% would constrain long-term homeowners’ access to funding. Branson told the commission: “Please raise the 3% limit significantly or remove the category limits altogether and allow owner occupied rehab to compete in the total pool.”
Staff and commissioners discussed the timeline adjustments intended to give more time than Round 15 for application processing and review. Commissioners asked staff to send a poll to determine availability for possible additional commissioner work sessions the week of Nov. 17–20 or Nov. 24–25 and to incorporate stakeholder work-session feedback into the policy-development process.
Chair and staff reminded attendees about three upcoming stakeholder work sessions on ownership, rental and rehab program areas and provided Barnes Fund contact information for those unable to sign up in person.
