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<br />April 15, 2020, Work Session – Item 2 <br /> <br /> On July 24, City Council held a work session discuss implementation of the AHTF including a proposed timeline, advisory committee structure, and potential uses for AHTF resources. During this work session, a motion passed directing that the vast majority of funds be used for direct assistance to renters and homebuyers. In October, the City Manager selected nine community residents to participate in the AHTF Advisory Committee. Five meetings occurred between October and February and included sessions on analysis of housing needs, renter housing development and assistance, homeownership housing and assistance, and lessons learned from other jurisdictions. The committee heard presentations from 10 guest speakers from area agencies, representatives of the Renter Protections Committee of the Housing Policy Board, and from the City of Bend. The Advisory Committee was unable to meet in late March due to coronavirus safety concerns. At the same time, there has been a substantial shift in the housing market and conditions and growing concerns regarding renter and homeowner stability. While significant additional federal resources are coming through direct payments and other funding, there is a significant need for renter assistance counseling and services as well as foreclosure prevention counseling in the near term. In addition, existing affordable rental housing for low-income persons may need short-term funding to maintain operations and critical resident services given expected delays and losses in rental income. Lastly, additional city staff capacity is needed to quickly create and implement entirely new programs in partnership with community agencies. There is a total of $800,000 in AHTF resources available for allocation. This includes $500,000 in General Fund dollars dedicated as a part of the Supplemental Budget process in December 2019 and an estimated $300,000 in CET revenue. The following potential allocation of AHTF resources for consideration is based on committee discussions, recommendations from the HPB Renter Protections Committee, recent discussions with affordable housing and social service providers, and a staff assessment of current conditions. <br /> Renter Counseling and Assistance - $225,000 – Expand nonprofit agency capacity to provide renter counseling, hotline services, and support benefit applications to access rental assistance funds to maintain housing stability and prevent homelessness. <br /> Forclosure Counseling and Assistance - $225,000 – Expand nonprofit agency capacity to provide foreclosure prevention counseling for homeowners in order to maintain housing stability and prevent homelessness. <br /> Operating Support/Rental Assistance for Existing Affordable Housing - $350,000 – Existing affordable housing development typically have very limited reserves in order to provide low rents for residents. Many residents of affordable housing also may have greater health risks in the current environment. Project-based operating funds could be used to pay for critical operating costs and resident services due to reduced rental income. These resources would also provide an opportunity for agencies to adjust rents as needed to maintain housing stability and prevent homelessness. <br />CC Agenda - Page 2