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Council approves two resolutions, debates Region 9 pilot schedule for affordable‑housing financing
Summary
Council adopted two resolutions on contract funding and a film liaison, and debated a Region 9 pilot agreement tied to affordable‑housing financing that would phase down tax/pilot percentages over time; staff will draft the pilot for the Sept. 18 meeting.
The council approved two routine resolutions and discussed a proposed pilot agreement connected to an affordable‑housing financing package.
Resolutions: The council voted to amend a previously adopted contract to raise the not‑to‑exceed amount to $128,000 and add $3,000 to cover a state historic‑preservation application (Resolution 149‑2025). The council also adopted Resolution 150‑2025 to appoint Councilman Stigman as the city’s film‑program liaison. Both resolutions were moved, seconded and carried by voice vote; the transcript records the motions and the voice votes but does not list a roll‑call tally.
Region 9 pilot discussion: Council reviewed a Region 9 pilot proposal that helps finance a 100% affordable housing rehabilitation through a combination of pilot payments, tax credits and HMFA programs. Financial advisers told the council that a 6.28% long‑term floor is typical for this kind of pilot; councilors debated keeping higher percentages early in the schedule and phasing down to 6.28% by 2037 or later. The council directed the mayor and city attorney to draft the appropriate pilot agreement language so the pilot could be considered at the Sept. 18 meeting.
Why it matters: The pilot schedule determines long‑term revenue flows and the feasibility of obtaining HMFA financing for the affordable‑housing work; the contract amendment funds required planning and preservation paperwork important to associated subdivision and sale processes.
Next steps: Staff to prepare the pilot agreement and resolution language for council consideration on Sept. 18; the contracts/resolution documents will be posted per usual procedures.
