0:00The most newsworthy action from the meeting was the introduction of a formal amendment to the Shepherd Gavin Rental Housing TIF District. This amendment proposes increasing the budget and expanding the eligible uses for affordable housing, projecting an allocation of approximately $6.6 million over seven years. The amendment, if approved, would allow the city to utilize additional tax increment revenue for affordable housing projects beyond the original project area, rather than returning approximately $600,000 to the tax base. This potential loss of funding was emphasized as a critical consideration, with participants stressing the urgency of the amendment to ensure effective utilization of the revenue for housing projects. The proposal also requires public hearings and notifications to the county and school board, with a resolution scheduled for a future meeting on November 13th. The conversation highlighted the amendment’s role in continuing investment in affordable housing and avoiding the return of tax capacity to the base.

20:11Another topic was the initiative to encourage infill development through additional dwelling units (ADUs). The authority is developing a comprehensive ADU toolkit to assist property owners in navigating the complexities of adding these units to their properties. Discussions focused on clarifying the terminology associated with ADUs and ensuring property owners understand the processes involved. The toolkit will encompass zoning regulations, building codes, and practical considerations such as parking and utilities. The need for detailed utility requirements and financial estimates was acknowledged, as these factors could present significant barriers for homeowners. Participants suggested compiling a list of contractors specializing in ADUs and providing pre-approved plan sets to expedite the process. The toolkit is expected to be finalized by the end of the year.

35:54Budgetary concerns were also a major focus, with a detailed overview of the authority’s revenue and expenses. A conservative approach to estimating revenue and expenses was noted, with specific examples illustrating how budgeting can appear misleading at a single point in time. Notably, the Federal Grants administration line showed less revenue billed than anticipated due to a late grant agreement, and parking revenue figures were lower than expected because of accounting practices related to Temporary Tax Increment Financing projects. These discrepancies were explained as timing issues, with an anticipated alignment by the end of the fiscal year.

50:04Attention was also given to the Home Buyer Fix-Up program, particularly the interest fund transfers that illustrate the complexities of state funding and pass-through grants. An unusual $1 million deed match associated with civil unrest remains unutilized, with plans to use it by year-end. Half of this amount is allocated to the LISC transition fund, and the other half to the Plaza Del Sol project. The rental rehabilitation programs faced challenges due to staffing issues, but efforts are underway to streamline processes and reduce the backlog.

The Inspiring Communities program was scrutinized, with questions about its funding sources and management. Discussions suggested ceasing the annual carryover of $100,000, as other funding sources are available. There is a shift in focus from single-family homes to more scalable developments due to rising costs, with a proposed budget of $105,000 drawn from previous allocations.