Executive/Council Action Form (ECAF) 2024-1353
ITEM TITLE:
Title
Motion 24-269, approving awards for Affordable Housing Preservation Program
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DEPARTMENT: Executive Office of Recovery & Resilience
ORIGINATOR: Jessica Ruhle & Kara Main-Hester
EXECUTIVE RECOMMENDATION: Ken Klein 6/25/24
PURPOSE: Approval of Affordable Housing Preservation Projects
BACKGROUND: The Snohomish County Council created the Office of Recovery & Resilience (ORR) through the budget to aid in the distribution of the ARPA funds, and ORR has designated $4,000,000 for the Affordable Housing Preservation Program. A memo regarding the funding for this project was presented to Council via ECAF 2023-0865. The Affordable Housing Preservation program intends to preserve existing affordable housing stock by addressing issues related to increased expense of operations and maintenance and increased pandemic related costs, an enumerated eligible use of ARPA funds.
FISCAL IMPLICATIONS:
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EXPEND: FUND, AGY, ORG, ACTY, OBJ, AU |
CURRENT YR |
2ND YR |
1ST 6 YRS |
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130.57516506784101 |
$4,000,000 |
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TOTAL |
$4,000,000 |
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REVENUE: FUND, AGY, ORG, REV, SOURCE |
CURRENT YR |
2ND YR |
1ST 6 YRS |
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TOTAL |
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DEPARTMENT FISCAL IMPACT NOTES: Click or tap here to enter text.
CONTRACT INFORMATION:
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ORIGINAL |
X |
CONTRACT# |
CLFR-115A |
AMOUNT |
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AMENDMENT |
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CONTRACT# |
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AMOUNT |
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Contract Period
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ORIGINAL X |
START |
Upon execution |
END |
June 30, 2026 |
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AMENDMENT |
START |
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END |
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OTHER DEPARTMENTAL REVIEW/COMMENTS: Reviewed/approved by: Risk Management (Diane Baer 6/24/24) and Finance (Nathan Kennedy 6/25/24)