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ARPA housing funds earmarked for Habitat closing; board hears ARPA timing rules
Summary
Finance staff said $145,000 in ARPA funding has been reserved for affordable housing and will be disbursed to Habitat for Humanity once final closing paperwork is complete; unspent ARPA dollars must follow committee restrictions and may be transferred to social services by year-end.
Anita explained miscellaneous revenue includes ARPA allocations and that several ARPA-funded projects must spend allocated funds by specified deadlines or reassign them per the ARPA committee’s rules. She identified a $145,000 ARPA allocation for affordable housing tied to the McCulloch properties that, once closing documents are finalized, will be billed to Anita by Habitat for Humanity for surveying, septic and related costs.
"145,000 of that is the affordable in affordable housing grant, and we are closing on McCulloch properties — I mean, Habitat is taking that, and we just finalized the paperwork with lawyers today," a board member said in discussion. Anita added that remaining ARPA balances and interest would be tracked and that any unspent funds by December would be transferred to social services as the ARPA committee previously set.
