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City to accept $2.9 million Tallgrass donation to support affordable housing projects
Summary
The finance committee recommended a resolution to accept a $2.9 million donation from Tallgrass ILS Holdings LLC to fund affordable‑housing components such as land acquisition, infrastructure and construction-related costs; the funds may support shared improvements to benefit affordable units in mixed‑income projects.
City economic resource staff told the finance committee the city would accept a $2,900,000 donation from Tallgrass ILS Holdings LLC to support affordable housing activities. Elizabeth Finiko said the donation may be used for land acquisition, site preparation, infrastructure, financing gaps and construction‑related costs necessary to enable construction, preservation or operation of affordable housing units.
Finiko said donation funds may be used for shared or common improvements within mixed‑income projects only to the extent those improvements support the affordable housing component. There was no public comment on the item. The committee moved and recommended the resolution for adoption; the transcript records Councilman Moody voting no on the governing‑body recommendation step.
What’s next: The committee recommended forwarding the donation agreement to the governing body for approval and authorization for the mayor to execute a donation agreement.
