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Council outlines guiding principles for $500,000 housing‑initiative fund; leans toward $100,000 guideline per project
Summary
Staff asked council how to deploy roughly $500,000 set aside for a housing initiative (fund 140). Council favored flexible, rolling applications with a guideline of up to $100,000 per project (with discretionary exceptions), preference for dense/multi‑unit projects, and a small nonprofit grant tranche (up to $20,000) for resilience or economic development uses.
City staff asked the council for policy direction on deploying fund 140 (the housing initiative fund), which staff described as roughly a half‑million dollars set aside to promote workforce and affordable housing. Mr. Spence reviewed eligible uses (gap financing, SDCs and off‑site utilities, fire/life‑safety upgrades to enable housing in older structures, predevelopment work on city parcels) and recommended excluding single‑family homes and projects already supported by urban renewal.
Council…
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