Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Housing Funding topic
No spam. Unsubscribe anytime.
Commission discusses Federal Home Loan Bank options and Brownfield Act for housing funding
Summary
Commissioners reviewed several housing funding avenues — including Federal Home Loan Bank applications and Michigan's Brownfield Public Act 381 — and directed staff and the Planning Commission to inventory funding options and avoid duplicating programs administered by local partners.
Commissioners discussed potential funding sources for housing and rehabilitation projects, including loans and grants from the Federal Home Loan Bank system and state options such as the recently updated Brownfield Public Act 381 that may be used for housing initiatives.
Staff told commissioners that Federal Home Loan Bank application windows start April 1 and that program structure is complex, with multiple program arms and participating banks in the Upper Peninsula. Commissioners emphasized the need for the Planning Commission to maintain an inventory of potential funding avenues and to present pros and cons for each option so the city can judge its administrative and financial capacity to apply for and manage larger grants or loans.
Speakers cautioned that the city should avoid seeking funds that local nonprofit partners — specifically referenced as Community Action Alger-Marquette — already administer, to prevent duplication. The transcript records that Jeff Hawkins had recently connected city staff with a resource who could present a webinar explaining how communities might use Brownfield Public Act 381 for housing projects; the commission indicated interest in such information for staff and elected officials.
No formal motion or application was approved at the meeting; the topic was discussed and staff were instructed to gather further information and coordinate with relevant partners and the Planning Commission.
