HomeMy WebLinkAboutMemo - Mail Packet - 10/7/2014 - Letter From Julie Brewen, Fort Collins Housing Authority, Re: Bfo Offer Number 48.1 (Affordable Housing Fund)October 1, 2014
Honorable City Council
City of Fort Collins
300 LaPorte Avenue
Fort Collins, CO 80521
Re: Budgeting for Outcomes Offer Number 48.1
Dear Honorable Council Members,
On behalf of the Fort Collins Housing Authority Board of Commissioners, I am writing to thank
you for your past support for the Affordable Housing Fund and encourage your approval of BFO
offer number 48.1 which provides general fund dollars to the City’s Affordable Housing Fund
Competitive Process. As you know, there is a critical need for housing that is affordable in our
community. This money provides a critical leveraging piece for development to meet help that
need.
We would be happy to talk with you in detail about the kinds of funding layering “gaps” this
money fills in the construction or preservation of housing that is affordable. In general terms,
this money is used to leverage the primary source of funding for permanently affordable rental
housing which is the IRS Low Income Housing Tax Credit Program.
Thank you for your thoughtful consideration.
Sincerely,
Julie J. Brewen
Executive Director