Affordable Housing Initiatives and Funding Challenges

The council discusses the importance of affordable housing, strategic placement of projects, and partnerships with Habitat for Humanity. Challenges in funding, including the use of tax credits and private activity bonds, are also explored. 11mins

Budget Housing Policy
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Original Meeting

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Littleton City Council on YouTube
Tuesday, January 14th, 2025
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Video Notes

Littleton City Council will hold a study session Tuesday, January 14 beginning at 6:30 p.m. at Littleton Center, 2255 West Berry Avenue. The public is invited to attend or can watch online.

Items on the agenda:

- Joint Meeting with South Metro Housing Options Board: This is the annual joint meeting between the City Council and the South Metro Housing Options (SMHO) Board of Directors. South Metro Housing Options will provide an update on 2024 accomplishments and anticipated items for 2025. The SMHO Board will then engage Council in a discussion about future priorities and needs to further the city’s affordable housing goals, policies, and action steps.

- Development Review Cost of Service Study and Amended 2025 Fee Schedule: Presentation on the cost of services study for development services user fees and recommended adjustments to the 2025 Fee Schedule.

- Interim Finance Department Leadership Plan: To inform the City Council of the interim leadership plan for the Finance Department following the upcoming departure of the Finance Director. This plan ensures continuity of operations and addresses key financial and regulatory responsibilities during the transition period.

Read the council packet here: https://ompnetwork.s3-us-west-2.amazonaws.com/sites/199/documents/01-14-2025_cc_meeting_documents.pdf?IXEG.VUjaNnnMzhmDtxkr4T_Xb4WurgA

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jeff schneider
Springfield, IL
Getting it done.
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In This Video
  • Corey Ritz discusses the residents served by SMHO and the importance of affordable housing in the community. 
  • Pat Cronenberger talks about the program for first-time home buyers and the partnership with Habitat for Humanity. 
  • Discussion about the geographic distribution of affordable housing developments and plans for future projects. 
  • Sarah and others discuss the challenges of finding affordable parcels for housing development and the types of housing being considered, such as multifamily units. 
  • Discussion on the economic efficiency of larger housing developments and the funding mechanisms like low-income housing tax credits. 
  • Discussion on the complexity of funding affordable housing projects compared to market-rate projects, and the challenges posed by fluctuating funding sources. 
  • Discussion on the challenges of exercising the right of first refusal for housing authorities due to capital constraints and the need for rapid decision-making. 
  • Mayor Kyle Shatter and Kathleen discuss the current status of IHO funds, the process of pre-application, and the challenges in predicting fund availability. Kathleen explains the timeline and variability in fund reception. 
  • Discussion on the process and policy for allocating IHO funds. Speaker 14 suggests a policy conversation to formalize the allocation process, and Kathleen mentions a follow-up meeting to discuss this with the council. 
  • Sarah discusses the need for private activity bonds for a new project, explaining the process and challenges in securing these bonds. The conversation includes the importance of having a defined project to utilize this tool. 
  • Sarah explains the competitive nature of private activity bonds and the importance of keeping them local. Kathleen highlights the potential for partnerships and leveraging bonds for future projects. 
  • Speaker 14 expresses concerns about the term 'bond' and its implications for liability. Kathleen reassures that there is no liability to the city and plans to educate the council on this matter. 
  • Discussion on affordable housing preservation, with Speaker 15 asking about efforts in this area. Corey and Pat discuss challenges and past projects related to housing preservation. 
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