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RPC details use of ERRA/ARPA funds for local affordable-housing investments
Summary
Staff said RPC is spending down a roughly $1.3 million ERRA (ARPA) balance and has used some ERRA funds to purchase an eight-unit complex in Urbana in partnership with the Housing Authority; staff said discussions continue to close a funding gap on a Champaign tax-credit project.
Staff clarified how the agency is using Emergency Rental Assistance (ERRA) funds appropriated through ARPA and reported plans to spend down the roughly $1.3 million Fund 75 balance.
A staff member told commissioners that "we are allowed to use those funds for affordable housing and so part of those funds have been used to purchase I think it's an 8 unit complex in Urbana which is a partnership with the Housing Authority" and that the Housing Authority will operate the property. The speaker said additional funds are being discussed with an affordable-housing developer to close the gap on a tax-credit project in Champaign (referred to in the discussion as a Parker Park/Glenn Park phase).
Commission staff framed these steps as targeted investments intended to convert ERRA dollars into longer-term affordable housing capacity in two cities within the county. No purchase price or binding contract terms were read into the record; staff described the Urbana purchase and the developer conversations as existing uses or near-term commitments of ERRA funds.
The commission voted to accept the consolidated report and place the materials on file; the financial report noted the agency remains healthy overall but that timing of reimbursements produces periodic operating deficits recorded at the meeting.
