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Committee approves reallocation of up to $2.5M ARPA to affordable housing, continuing McGaw YMCA support
Summary
The committee approved moving up to $2.5 million in ARPA funds from a McGaw YMCA activity to affordable housing construction and acquisition; staff said the YMCA is expected to spend about $1 million and the reallocation stays within Treasury rules for similar activities.
The Administration & Public Works Committee voted to approve resolution 171 R 26 to reallocate up to $2,500,000 of ARPA funds from the McGaw YMCA activity to affordable housing construction and acquisition. Council member Kelly moved the resolution and the motion passed by a 6–0 roll call vote.
Sarah Flax, Community Development Director, told the committee that Treasury permits moving funds among activities that share the same numeric purpose. "The YMCA is actually gonna be close to $1,000,000 in what they're actually gonna spend, and we're gonna let them spend as much as they can this year," Flax said. She said the city may use some of the reallocated funds to acquire family-sized units that are becoming unaffordable in parts of the city and that specific property purchases would be brought to full council for approval.
