Title
Affordable Housing Funding Policy
Action
Action:
Approve updates to the Affordable Housing Funding Policy, which establishes housing funding goals, investment priorities, and funding allocation goals to guide the city’s housing investments, as recommended by the Housing Committee.
Body
Committee Chair:
LaWana Mayfield, Housing Committee
Staff Resource(s):
Raquishela Stewart, Housing and Neighborhood Services
Warren Wooten, Housing and Neighborhood Services
Explanation
The city’s adopted FY 2027 budget increased the proposed 2026 Housing Trust Fund (HTF), from $100 million to $125 million.
To help guide this historic housing investment, the Mayor charged the Housing Committee with recommending updates to the Affordable Housing Funding Policy (Policy), including goals and outcomes, investment priorities, and HTF funding allocation goals, while considering the impacts of future Mobility Plan investments.
The city’s affordable housing funding goals are economic mobility, neighborhood affordability, and residential stability.
The updated Policy supports the following priorities for the 2026 bond cycle:
Priority populations - Focus investments on homebuyers, lower-wage workers, households at risk of displacement, and vulnerable populations, with an emphasis on serving households with the greatest affordability needs.
Location priorities - Prioritize locations where investment expands housing choice and creates the greatest impact, including areas affected by current or planned transit and other public or private investments.
Resident services - Connect housing investments with meaningful resident services that support economic mobility, neighborhood affordability, and residential stability.
Partnerships and leverage - Expand partnerships, leverage public, private, and philanthropic resources, and encourage greater private market participation in affordable housing.
Innovation - Support innovative and scalable approaches to affordability, including new ...
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