LEGISLATIVE ACTION ITEM
SPONSOR: Ashton J. Hayward, III, Mayor
SUBJECT:
title
Establishment of a Housing Initiatives Fund
end
RECOMMENDATION:
recommendation
That Council approve the establishment of an assigned Fund Balance which would be restricted for the Housing Initiatives Fund, dedicated to receiving specified funds to supplement existing and future adopted Housing Program Initiatives. Further that City Council allocate the General Fund portion of the proceeds from the sale of 16 South Palafox into the Housing Initiatives Fund. Finally that City Council allocate 50% of the proceeds from the sales of 1015 N “E” Street, 300 Block of W. Intendencia Street and 50% of all future proceeds from the sale of affordable housing designated surplus properties into the Housing Initiatives Fund.
end
body
AGENDA: Regular
Public Hearing Required: No Hearing Required
SUMMARY:
In the Pensacola metropolitan area one out of every 2.5 households has income levels that are less than 80% of area median income. These low to moderate income households qualify for housing assistance despite most being working families. Many are essential service providers such as firefighters, law enforcement personnel, teachers or elderly persons on fixed incomes. The Mayor, City Council and the Affordable Housing Advisory Committee have called for enhancement of our existing affordable housing programs. These programs are currently funded through fixed formula by the Federal Department of Housing and Urban Development (HUD) and State Legislative allocations through the State Housing Initiatives Program (SHIP). Because neither of these funding sources are within the City’s control, eligible program beneficiaries can end up on long waiting lists or lose out on assistance completely. For example, the SHIP program was interrupted in 2016 for seven months and was not funded at all in State FY 11/12. The Housing Division continuously monitors and improves the delivery of eligible programs through these sources to assist as many citizens as possible but long waits for assistance still exist. The Housing Division also collaborates and coordinates with our Community Redevelopment Agency (CRA) to focus on redevelopment areas and implement development consistent with the CRA Redevelopment Plans.
In order to provide for a City-controlled and directed program and an enhanced level of housing program delivery, the City has embarked on an initiative to move City-owned surplus properties back into productive use. Through the development and sale of surplus properties, local assets can be monetized and all, or a portion, of the proceeds can be dedicated to expanding existing homeowner assistance programs.
PRIOR ACTION:
December 8, 2016 - Council Approved the FY 2017 Non-Encumbered Carryover Budget Resolution.
November 17, 2016 - Council Approved Declaration and Surplus of City Property - 1015 N “E” St.
November 17, 2016 - Council Approved Declaration and Surplus of City Property - 300 Blk W. Intendencia St.
December 9, 2015 - Council Approved the Affordable Housing Incentive Plan Review Report
City of Pensacola Comprehensive Plan Chapter 3 Housing.
FUNDING:
N/A
FINANCIAL IMPACT:
City Council approval will provide funding to implement the Housing Initiatives Fund.
CITY ATTORNEY REVIEW: Yes
12/30/2016
STAFF CONTACT:
Eric W. Olson, City Administrator
Keith Wilkins, Assistant City Administrator
ATTACHMENTS:
PRESENTATION: No
end