Affordable Housing Task Force

The Affordable Housing Task Force met on Monday the 27th to discuss the information Jonathan Leist, Culver Town Manager, had assembled through various meetings.  I attended four of the six meetings he reported on and was able to help fill in background.  In a nutshell, there are opportunities and developers that can be enticed to do work.

In a MCEDC site visit with Elkay, we were able to recruit Elkay’s management to assist us in our endeavors.  Two Elkay representatives attended the Monday meeting and brought demographics for our use.  They also volunteered to help with surveying to determine how many Elkay employees would be interested in relocating to Culver if housing were made available.

In the meeting with IHCDA, we learned that funds are available, but only for income based housing projects, not market based housing.  We did find that much of the projected income based rental rates are actually above the local market rate rents.

The Task Force agreed that it would be prudent to pursue both market based and income based housing to keep our options open.  The group tasked Jonathan to take a couple of things before the Town Council:  1)  A budget for a Needs Assessment Survey and 2)  A tentative agreement to consider tax abatement for the properties.  (Tax Abatement was requested by all of the developers Jonathan met.)  Jonathan accomplished #2 at last night’s Council meeting, but #1 was not approved as it would require an additional appropriation for the unbudgeted cost.

Image Source:  www.homeloanstoday.com

 

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