The City shall work with developers to facilitate affordable housing development. Specifically, the City shall review available funding programs annually and shall provide technical support in the application for State, Federal, and other public affordable funding sources, and, as funding permits, shall provide gap financing for affordable housing. Gap financing shall focus on rental housing units affordable to lower-income households and households with special needs (e.g., seniors, extremely low-income households, and persons with disabilities, including developmental disabilities), especially projects that promote the City’s goals relating to transit-oriented development and jobs/housing balance.
The City continues to partner with affordable housing developers to facilitate new construction, acquisition, rehabilitation, and preservation of affordable rental and homeownership developments. The City provides gap financing and assist developers with applications for state funding. Through the Affordable Housing Notice of Funding Availability (NOFA), the City is able to prioritize the City's goal and at-risk target populations.