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CRA outlines housing initiatives: ARPA allocations, resiliency program opening and county loan support
Summary
Staff described ARPA-funded allocations for homebuyer assistance, a January opening for a residential application program using Neighborly, limited resiliency funds with emergency flexibility, and the county'9s $225 million low-interest loan program supporting housing.
CRA staff updated the board on several housing initiatives. The city is pursuing an ARPA agreement with the Union Land Trust for $30,000 per property to support long-term affordable for-sale units; staff indicated the funding will likely be used for down-payment assistance and listed several addresses included in the program. Lot clearing has started and the city is working to hire a housing and development program manager expected to be in place in January.
Shirley said the residential program will reopen following a press release on Jan. 8 and applications will be accepted starting Jan. 13 through the Neighborly platform. The resiliency program currently has approximately $45,000 budgeted, which at a $15,000 maximum benefit per household would support only a handful of homes per year, but staff noted CRA-approved flexibility allows pulling funds from another program (RPF) for emergency responses like tarping or hazardous tree removal.
A board member noted that the Board of County Commissioners on Dec. 12 approved $225,000,000 for low-interest loans to support housing—an initiative that would work alongside local programs. Staff also discussed the motor lodge developer'9s new RFA application and a shift in AMI mix for units to 40/60 and a 5% dedication for youth aging out of foster care.
