HomeMy WebLinkAbout1998-125-08/18/1998-ESTABLISHING AFFORDABLE HOUSING PRIORITIES RESOLUTION 98-125
OF THE COUNCIL OF THE CITY OF FORT COLLINS
ESTABLISHING AFFORDABLE HOUSING PRIORITIES
WHEREAS,the 1997-99 Staff Work Plan calls for an Affordable Housing Needs Study to
be completed in the Summer of 1998; and
WHEREAS, a Draft Priority Affordable Housing Needs and Strategy Study was presented
to the City Council at its Study Session on June 9, 1998, which study included an investigation of
the kinds of affordable housing that exists in the community and the kinds that are most urgently
needed; and
WHEREAS, input has been received by the staff from the Fort Collins Housing Authority,
Funding Partners,the Affordable Housing Coalition and the Attainable Seniors Housing Committee
and others in support of the draft study; and
WHEREAS, the Affordable Housing Board at its August 6, 1998 meeting has recommended
the establishment of the Affordable Housing Priorities proposed based upon the draft study and the
statistical and documentary data utilized in formulating said study; and
WHEREAS,the Council has determined that it is in the best interest of the citizens of the
City that the affordable housing priorities as recommended by the Draft Priority Affordable Housing
Needs and Strategy Study be established as the City's affordable housing priorities.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the affordable housing needs of the City of Fort Collins are established as follows:
1. Rental Housing. This community needs to produce new rental units affordable to families
earning below 80%of Area Median Income("AMI"),and to acquire existing rental units, so as
to preserve their affordability. Highest priority will be given to rental units affordable to families
earning at or below 50% of AMI.
2. For Sale Housing. This community needs to continue to help first time homebuyers earning
less than 80% of AMI to get into affordable homeownership, but place higher priority on
potential homebuyers earning below 60% of AMI.
3. Senior and Special Needs Housing. This community should try to find new sources of rental
subsidy for families earning below 30%of AMI,particularly for senior citizens and others with
special needs such as mental or physical disabilities.
4. Housing Production. This community needs to maintain an adequate supply of affordable land
for housing low and moderate income persons and families. It needs to be more proactive in
identifying and securing sites for future affordable housing development. The City also needs
to examine any regulatory barriers to affordable housing and consider reforming them, and it
needs to be supportive of proposed developments in their quest for identifying development
subsidies.
5. Housing Preservation. This community needs to preserve its existing affordable housing stock.
City-assisted affordable housing should carry a minimum 20 year commitment to affordability.
Priority should be given to units that will be kept affordable for periods in excess of 20 years,
with the highest priority given to units committing to permanent affordability.
Passed and adopted at a regular meeting of the City Council held this 18th day of August,
A.D. 1998.
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Mayor
ATTEST:
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City Clerk 'C u