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Council reviews updates to affordable housing financing, Carlton Mobile Home Park and RFI/CAF process
Summary
Staff updated council on final financing for the Carlton Mobile Home Park, the city’s continued use of RFIs for affordable housing allocations, potential use of future inclusionary‑zoning in‑lieu cash (anticipated ~$11M), and next steps for CAF oversight and RFI summaries.
Councilors spent substantial time on affordable housing financing lines and program mechanics during the CIP work session. Staff reported that final financing terms for the Carlton Mobile Home Park have been adjusted in the CIP to reflect a balloon loan structure and clarified that the loan is the PHA’s and therefore not bondable by the city.
"It's a balloon," Speaker 1 said…
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