Board of Supervisors Receives Affordable Housing Advisory Committee Recommendations
Oversight Group Clarifies Recommendation on Serving Very Low Income Households
At its meeting on April 30, 2007, the Board of Supervisors received the recommendations of the Affordable Housing Advisory Committee concerning the future use of the Penny for Affordable Housing Fund. As a part of its action, the Board asked the staff to provide information on the Advisory Committee’s recommendations and a variety of other related issues.
The recommendations, which were developed principally by a special subcommittee of the Advisory Committee chaired by Kerrie Wilson of Reston Interfaith and included:
- Setting a new goal of preserving or producing an additional 2,200 units using the Penny Fund from Fiscal Years 2008 - 2011;
- Establishing a guideline for the use of the Penny Fund targeting that a minimum of 50 % of the fund shall be expended to preserve units affordable to households earning very low incomes (50 % of the Area Median Income (AMI) or below);
- Designating special needs, senior and Single Room Occupancy (SRO)/Residential Studio Unit (RSU) housing and low-income homeownership as the types of projects in which the Penny Fund may be used for new construction; and
- Investing the Penny Fund and other resources in the preservation and development of SRO/ RSU housing.
The Advisory Committee, in an April 26, 2007 letter to Board of Supervisors Housing Committee Chair Cathy Hudgins, had clarified its recommendation concerning serving very low income households. The Advisory Committee’s original report referred to “…establish[ing] a guideline for the use of the Penny Fund that a minimum of 50 % of units preserved shall be affordable at incomes 50 % of the Area Median Income (AMI) or below.” The Advisory Committee’s ultimate intent, however, was to speak to what portion of the Penny Fund should be targeted to preserve units affordable at 50 percent AMI and below. Therefore, the Advisory Committee’s report was amended to recommend that “That the Board of Supervisors establish a guideline for the use of the Penny Fund that a minimum of 50 % of the fund shall be expended to preserve units affordable at incomes 50 % of the Area Median Income (AMI) or below.”
The Board of Supervisors has requested that staff return to the Board at a later date with a variety of information related to the county’s affordable housing activities. Questions related to the proposed use of the Fund for new construction, the percentage of funds to be used for very low income benefit as well as whether the recommendations that would limit flexibility and the ability of the Fund to respond to opportunities and a changing market. HCD staff will address the concerns expressed by the Board and prepare a response.
