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Commission discusses separate tracks for for‑profits (loans) and nonprofits (grants)
Summary
Commissioners debated whether to restrict competitive grants to nonprofits while directing for‑profit landlords toward rehabilitation loans; they noted loan administration and long‑term monitoring needs would influence capacity and program design.
Commissioners debated whether for‑profit landlords should be eligible for competitive awards or instead be routed to loan programs. Several commissioners said loans could provide more favorable terms for small landlords while reducing long‑term monitoring burdens on the city.
The Chair noted loan terms can be more favorable for for‑profit applicants and that grants create longer monitoring obligations. Commissioners discussed marketing to small landlords and whether the rehabilitation loan program already meets most small‑landlord needs. Leanne said staff can draft an approach that clarifies which track — grant or loan — is appropriate for different applicants and incorporate that guidance into the NOFA materials.
