Overview
- After a tense hearing, City Council pushed a key committee vote to Monday, with final approval targeted for Thursday to allow a $400 million bond sale this year.
- The first-year H.O.M.E. budget remains set at about $195 million, part of a four-year, $2 billion plan to create and preserve roughly 30,000 housing units.
- Council members pressed to codify priority for the lowest-income households, while the administration defended flexible eligibility that can reach up to 100% of AMI.
- City officials said about two-thirds of preservation and production funds would serve households up to 50% of AMI and roughly 40% would reach those up to 30% of AMI, though none of that is in law.
- Eight members backed an amendment to raise first-year spending to $231 million and target more dollars to deeply affordable programs such as the Basic Systems Repair Program.