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City to apply for $25,000 Story County LMI match to add $50,000 for housing support
Summary
City staff will submit an application to Story County for $25,000 to match the city's $25,000 low- and moderate-income (LMI) housing account, producing a potential $50,000 award; the application is due August 5.
City staff told the council they will apply to Story Countys Low and Moderate Income (LMI) housing support program for $25,000 to match the city's $25,000 allocation, creating a potential combined award of $50,000.
As staff explained, the county program accepts applications only from municipalities and the application in this cycle is due August 5. "We are applying, on behalf of the city for 25,000 to match the city's, LMI account at 25,000 for a total of, it would be a total award of 50,000," staff said. Councilors asked whether the citys LMI funds were separate or part of the citys rental assistance, and staff clarified this county match is distinct and intended to replenish or augment the city's LMI account.
Council approved submitting the application and staff said they will post application details to the city website and assist potential applicants.
