New revenue in the City’s Housing and Neighborhood Development budget will help establish long-range funding mechanisms to increase the supply of affordable housing. The City’s new Growing SLC plan identified strategies to provide low-interest loans to affordable housing developers, support down payment assistance strategies and provide case managers for those looking for affordable housing solutions.
The budget information below is for fiscal year 2018-2019 and reflects a shortened collection period that will begin in August 2018. Budgets reflect additional revenue only and do not represent total department spending or existing sales tax revenue.
Projects
Project Description
Mayor's Recommended Budget
New House 20 Program
Expand pilot program to place the 20 highest users of emergency services into stable housing
$125,000
Shared Housing Program
Fund a structured roommate housing program which maximizes existing resources to match those in need of housing with available opportunities
$100,000
Land Discounts and Financing
Provide gap-financing, loans and other incentives to include affordable units in mixed housing developments; part of the Housing Trust Fund
$2,100,000
Incentivized Rent Assistance Program
Fund an assistance program to stabilize low-income renters using best practices and an outcome-based approach, to help prevent homelessness
$656,250
Service Model Program for Most Vulnerable Populations
Support and enhance pilot housing programs for individuals with mental illness and children experiencing homelessness
$218,750
Community Land Trust
Expand the number of homes placed in Community Land Trust, a pilot program which permanently secures land to make single-family homes more affordable
$250,000
Down Payment Assistance
Increase funding and marketing for home ownership programs
$100,000
Fee Waiver Program for Affordable Housing Developers
Waive City fees related to development in exchange for the inclusion of affordable housing in mixed-income developments
$320,000
Federal Funds Accounting and Grant Administration and Reallocation
Fund additional administrative costs for Housing & Neighborhood Development (HAND) staff to create and manage City funded programs
$175,000
Additional Planner
Hire one new planning position to manage the impacts related to overall infrastructure upgrades
$101,161
Census Coordinator
Hire a census coordinator to prepare for 2020 Census and help gain an accurate count. Census data determines federal affordable housing and community development funding to the City
$80,000
Total:
$4,226,161
