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RDA discusses using city affordable-housing funds and unrestricted RDA funds but makes no commitment
Summary
RDA members discussed whether to split payments between the city's affordable-housing funds (from TID 6 closure) and the RDA's unrestricted funds, but deferred any formal reallocation pending further review and possible related agenda items.
RDA staff asked whether members wished to consider using city affordable‑housing funds — including funds that became available when TID 6 closed — to reduce the pressure on the RDA's unrestricted fund balance. Staff explained the city has an allocation available that could be dedicated to affordable-housing uses and that such a reallocation would reduce the city's general‑tax-levy obligation toward the RDA's payment.
Staff framed the item as an informational discussion; no specific dollar amount was proposed or approved. "If you're using affordable housing funds, then maybe we could shift some of that utilizing the funds that the city has received from the closure of TID 6," the administrator said. Committee members stressed the value of keeping some RDA funds unrestricted for discretionary downtown projects, while acknowledging the potential to leverage other housing funds for qualifying projects.
The committee did not adopt a new payment-split policy at the meeting. Staff said they would keep the issue available for further discussion and that specific allocations or developer agreements could be brought forward under separate agenda items if members wanted final approval.
