Requesting approval to repurpose $3,500,000 in unused COVID-19 Stabilization Fund appropriations for affordable housing opportunities for low-income residents.

To the Honorable City Council: The Mayor respectfully requests that this Council repurpose $3,500,000 in unused COVID-19 Stabilization Fund (Fund 7138) monies for the purpose of funding the rehabilitation of several housing units designated as affordable housing opportunities for low-income residents. A separate order transferring these funds to the Affordable Housing Trust Fund will be submitted to your Honorable Council to fulfill the intent of this request. Appropriate staff will be available to answer any questions you may have. Thank you for your consideration of this matter. Respectfully Submitted, Katjana Ballantyne, Mayor