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Board hears update on Momentum Fund RFP and state housing targets
Summary
Staff briefed the board on a potential Momentum Fund award and a proposed management consulting RFP to produce a state-required planning document; the state award would carry a local match requirement and a goal tied to bringing roughly 1,000 units online in the stated period.
S2 briefed the board on the Momentum Fund matter and the draft RFP for a management consultant to help prepare the planning document the state has requested by year-end. The city may receive $10 million from the Momentum Fund but that award carries a local match requirement and milestones tied to bringing housing units online.
Board members asked whether privately funded infrastructure or private developer investment would count toward the match and pressed on timing concerns: one board member asked, "We're getting 10,000,000 from the momentum fund, and then the city has to come up with $10,000,000?" Staff said the state will provide award details and specific definitions for reimbursement triggers; staff will report back once the official award documentation arrives.
