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Council approves $3 million for home‑repair program aimed at preventing displacement
Summary
Council approved a home‑repair policy and allocated $3,000,000 of 2024 affordable‑housing bond proceeds to an anti‑displacement home‑repair program serving households at or below 80% AMI, with awards up to $40,000 per home (first $25,000 as grant, remainder a 0% forgivable loan).
Council approved a home‑repair policy and the allocation of $3 million from the 2024 affordable‑housing bond to a program intended to reduce involuntary displacement by funding urgent, non‑cosmetic repairs for income‑qualified homeowners.
Staff said the policy priorities target households at or below 80% AMI with an emphasis on those at or below 60% AMI, seniors, people with disabilities and long‑term homeowners facing involuntary displacement. The program would offer a maximum of $40,000 per home, structured so that up to $25,000 is a grant and amounts above $25,000 are a 0% deferred forgivable loan forgiven over five years (20% forgiveness per year). Staff estimated the $3 million allocation could serve roughly 68–108 homes depending on actual repair costs and recommended releasing a call for proposals to program operators in August.
Council voted unanimously to adopt the policy and allocate funds; staff said proposals for program administration will be evaluated and selected in the coming months.
