Title
Affordable Housing Funding Recommendation
Body
Staff Resource(s):
Warten Wooten, Housing and Neighborhood Services
Michael Englehart, Housing and Neighborhood Services
Explanation
• In 2024, the city issued a rolling Naturally Occurring Affordable Housing (NOAH) Acquisition, Rehabilitation and Subsidy Request for Proposals (RFP) to provide gap funding for the preservation and rehabilitation of NOAH communities in the city. The rolling RFP allows the city to evaluate proposals on a rolling basis and allows developers to be responsive to quickly changing market conditions. The Committee will receive staff recommendations regarding a recent proposal received in response to the rolling RFP to preserve a NOAH property in Council District 3.
Action: Information and Discussion.