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Draft rental-rehab program proposes cost-share and affordability terms; board debates displacement risk
Summary
Staff presented draft rental-rehabilitation terms copied from an Invest DSM template proposing a 30/70 cost-share (program/owner), AMI-based tenant eligibility and multi-year affordability durations; board members raised concerns about potential landlord gaming, displacement and AMI targets.
Speaker 2, Neighborhood & Business Development staff, introduced draft terms for a rental-rehabilitation program included in the meeting packet and said the city used Invest DSM language as a starter point. Staff described key elements: a cost share where the program would cover roughly 30% of project costs and the landlord would cover about 70%; affordability periods tied to the grant size (example durations described by staff: $15,000 → 3 years; $45,000 → 5 years;…
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