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Committee moves $2.63 million from CPA affordable housing reserve to city housing trust
Summary
City staff asked the finance committee to allocate $2,630,071 from the Community Preservation Act affordable housing reserve to the Affordable Housing Trust as the standard FY26 50% allocation; the committee recommended approval to expedite funding to projects.
The finance committee on Sept. 9 recommended transferring $2,630,071 from the Community Preservation Act (CPA) affordable housing reserve to the city’s Affordable Housing Trust. Director Alan Inacio told the committee this represents the FY26 50% allocation to the housing trust and that the administration is moving the vote earlier than past years to get funds committed more quickly.
"This is the FY '26, CPA, 50% allocation to the housing trust," Inacio said, explaining that the committee previously approved the split as part of the CPA budget and that the early vote is intended to expedite project commitments.
Committee members expressed general support for routing funds to the housing trust. One councilor said they "always appreciate funds coming to the Affordable Housing Trust" and thanked the director for the clarification. The committee laid the item on the table to recommend approval so the trust can begin committing funds to projects.
