Submitted By
Jonathan Burch, Assistant Village Manager/Neighborhood Services Director
Reviewed By
Erin E. Baynes, Assistant to the Village Manager
Agenda Item Title
Title
A Resolution Approving the Village of Oak Park's Housing Trust Fund Program Guidelines
End
Overview
Overview
Staff has developed program guidelines for operation of the Housing Trust Fund...End
Recommendation
Recommendation
Staff recommends that the Village Board adopt the guidelines. Program guidelines allow staff to implement identified programs and activities in a consistent and intentional way. These guidelines are structured to address identified operational challenges, particularly the process for monitoring and evaluating funded projects. Importantly, they define a consistent set of criteria for evaluation of new projects to ensure alignment with Village Board Goals (specifically Goal 4, Priority 1) and the Strategic Vision for Housing.
Background
In spring 2022, the Village Board created the Housing Trust Fund for the equitable distribution of funds to affordable housing projects and programs. While the ordinance includes many details about the operation of the Housing Trust Fund, including affordability levels, permitted uses, and general criteria for decision-making for proposals, it does not cover nuanced operational factors. These guidelines will direct staff on how to administer the program on a day-to-day basis. Staff has created draft program guidelines for the Housing Trust Fund and recommends adoption by the Board.
These guidelines cover essential operational aspects identified via the following subsections in the draft guidelines:
? Policy Foundation
? Application Process
? Criteria for Application Review
? Monitoring
? Evaluation
The criteria for application review are particularly important as they provide applicants with a clearer sense of the Village's priorities. They also provide the Housing Programs Advisory Committee (HPAC), which reviews and makes rec...
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