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Topeka committee reviews Affordable Housing Trust Fund RFP, outlines 20% cap and January RFP
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Summary
The Policy and Finance Committee heard a presentation on the Affordable Housing Trust Fund: the city has just over $1.1 million available, awards will be capped at 20% of project cost as gap financing, and staff plans to publish an RFP in January after presenting to the governing body on Dec. 16.
The Topeka City Policy and Finance Committee on Dec. 11 heard a presentation from the Affordable Housing Trust Fund Committee outlining a planned request for proposals, scoring criteria and next steps for awarding grants or gap financing.
The presenter said the fund’s purpose "is to increase the amount of affordable housing that's available in the city of Topeka." The fund reached its initial $1,000,000 goal in June 2023 and, "because of the accrued interest," currently holds "just a little over $1,100,000," the presenter said.
Why it matters: the fund is intended to leverage other financing and reduce per‑unit costs by prioritizing higher‑density projects and new units. The committee and staff framed the fund as gap financing rather than a full source of project funding.
Key details: applicants will be evaluated on qualifications, alignment with the trust fund’s tenants, project type, funding sources, timeline, location and stated project impact. Staff developed an application, an Excel budget template and a scoring rubric to allow consistent comparisons between proposals. Bonus points will be available for projects that use properties from the city land bank, generate revenue for the trust fund, or provide workforce training.
Staff said awards will generally be capped at 20% of a project’s total cost so the trust fund functions as gap financing; larger projects may receive larger dollar awards but only up to the 20% cap. The presenter described the procedural steps for awards: the committee will evaluate and recommend projects, the city manager must concur, and the governing body will make the final award decision under the applicable city ordinance.
The presenter also noted a prior committee action at the Nov. 12 meeting to recommend a 0.01% special purpose retailer sales tax as a potential funding source, and said that a 0.01% tax is projected to generate about $3,800,000 per year. That sales tax proposal would first require governing body approval and, if advanced, voter approval.
Timing and outreach: staff plans to present the materials to the full governing body on Dec. 16 to gauge support before publishing the RFP in January; the RFP would remain open about a month, followed by evaluation and award steps. In response to questions, staff said how often the RFP runs will depend on available funds — with greater revenue (for example, if a sales tax passed) rounds could be more frequent, but the typical cycle without new revenue may be several months between rounds.
Next steps: the committee took no formal action on the RFP today; staff will pursue governing body feedback on Dec. 16 and, if supported, post the RFP in January.
