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Council Provided Information - 4/11/2023Annual HOUSING FUNDING Priorities Fy 24 APRIL 11, 2023 HOUSING DEVELOPMENT FUND WESTSIDE COMMUNITY INITIATIVE FUND SECONDARY HOUSING FUND ADOPTED Q1 2021 YEARLY BOD APPROVAL PRIMARY HOUSING FUND HOUSING ALLOCATION FUNDS POLICY HOUSING FUND ALLOCATIONS ANNUAL HOUSING PRIORITIES HOUSING ACTIVITIES ANNUAL HOUSING FUNDING STRATEGY This policy established guidelines for allocating/directing resources for housing by funding source. Also requires "Annual Housing Funding Strategy" (right) be brought in front of Board every year. Estimated amounts will be brought to the Board for budget review next month For your consideration today These will be adopted as part of the budget approval PRIMARY HOUSING FUND WESTSIDE COMMUNITY INITIATIVE FUND HOUSING DEVELOPMENT FUND SECONDARY HOUSING FUND housing fund allocations $TBD HOUSING FUND ALLOCATIONS ANNUAL HOUSING PRIORITIES HOUSING ACTIVITIES ANNUAL HOUSING FUNDING STRATEGY $TBD $TBD $TBD WEALTH BUILDING OPPORTUNITY recommended annual housing priorities For the Board's consideration today MISSING MIDDLE HOUSING AFFORDABLE FAMILY HOUSING DEEPLY AFFORDABLE HOUSING HOUSING FUND ALLOCATIONS ANNUAL HOUSING PRIORITIES HOUSING ACTIVITIES ANNUAL HOUSING FUNDING STRATEGY ADU PARTNERSHIP LAND ACQUISITION/ DISPOSITION HOUSING DEVELOPMENT LOAN PROGRAM EQUITY BUILDING MODEL recommended housing ACTIVItIES Tools/programs by which to achieve Priorities, which will be approved as part of the budget. HOUSING FUND ALLOCATIONS ANNUAL HOUSING PRIORITIES HOUSING ACTIVITIES ANNUAL HOUSING FUNDING STRATEGY housing ACTIVItIES Housing Development Loan Program Competitive NOFA Resolution proposes requiring affordable family housing and/or deeply affordable housing as threshold HOUSING FUND ALLOCATIONS ANNUAL HOUSING PRIORITIES HOUSING ACTIVITIES ANNUAL HOUSING FUNDING STRATEGY HOUSING DEVELOPMENT FUND SECONDARYPRIMARY WESTSIDE COMMUNITY INITIATIVE FUND housing fund allocations FY24 ANNUAL HOUSING FUNDING STRATEGY ANNUAL HOUSING PRIORITIES HOUSING ACTIVITIES MISSING MIDDLE HOUSING DEEPLY AFFORDABLE HOUSING WEALTH BUILDING OPPORTUNITY AFFORDABLE FAMILY HOUSING ADU PARTNERSHIP HOUSING DEV. LOAN PROGRAM LAND ACQUISITION/ DISPOSITION EQUITY BUILDING MODEL next steps Today - Board may wish to consider the adoption of the resolution to approve the Funding Priorities for FY 24. May - Proposed funding allocations to housing funds and activities will be brought to the Board with the budget presentation. June - Housing activities are approved as a part of the RDA budget approval HOUSING FUND ALLOCATIONS ANNUAL HOUSING PRIORITIES HOUSING ACTIVITIES ANNUAL HOUSING FUNDING STRATEGY