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Council discusses using housing fund and surplusing Evelyn parcel to support housing
Summary
A council member estimated the housing fund balance at roughly $200,000 and raised the possibility of surplusing the Evelyn parcel to direct proceeds into affordable housing; staff said the idea can be revisited after updated timelines and further analysis.
During the housing discussion, a council member (S3) raised the balance of the city's housing fund and the possibility of using city-owned property to support housing initiatives.
S3 said, "I wanna say don't quote me, but I wanna say there's around 200,000," referring to the housing fund balance and noting the money comes from tax-increment projects with a portion set aside for housing. Council members discussed whether surplusing the Evelyn/40th parcel could generate proceeds for housing programs, but no direction to sell property was finalized; staff said detailed analysis and updated timelines will guide any decision.
Staff told council that a fuller conversation about the Evelyn parcel and other city-owned property would follow once the modern-income-housing timelines are updated and staff can produce a clear accounting of resources.
