Submitted By
Tammie Grossman, Director of Development Customer Services
Reviewed By
LKS
Agenda Item Title
Title
A Resolution Adopting Amended Guidelines for the Multi-Family Housing Incentive Program
End
Overview
Overview
The Housing Programs Advisory Committee (HPAC) voted to recommend changes to the Multi-Family Housing Incentives Program Guidelines at the February 20, 2019 meeting. The intent of the program is to encourage diversity and integration in multi-family residential buildings. The proposed revisions to increase the maximum amount available to smaller buildings.
Body
Staff Recommendation
Approve the Resolution.
Fiscal Impact
Funds for the Multi-Family Housing Incentives program are budgeted in 2019 budget line item 1001.46206.300.585612 in the amount of $150,000.
Background
The Housing Programs Advisory Committee (HPAC) discussed revisions to the current Multi-Family Housing Incentives Program guidelines at the January, 2019 and February, 2019 meetings. The committee voted on February 20 to recommend Board approval of the revised guidelines. Village staff also reached out to the Oak Park Regional Housing Center to discuss the proposed changes.
The program has three components: grants, rental reimbursement, and MSA-only. The proposed change would apply to the grant component only.
The grant component of the program seeks to invest in buildings whose owners agree to affirmatively market the improved building for a period of three years. In this way, segregated buildings should become more integrated. The Village contracts with its designated Marketing Agent, the Oak Park Regional Housing Center, to provide affirmative marketing services through a Marketing Services Agreement (MSA). Under current guidelines, the grant amount is the lessor of $10,000 or $1,000 per unit. The elgible buildings are multi-family rental buildings containing four or more apartments. The recommended change is to eliminate the per unit cap and have the maxim...
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