CITY of ALBUQUERQUE
TWENTY SEVENTH COUNCIL
COUNCIL BILL NO. R-26-51 ENACTMENT NO. ________________________
SPONSORED BY: Renée Grout, Nichole Rogers
RESOLUTION
title
Directing The City Administration To Utilize Funding For An Affordable Housing Development And To Facilitate The Determination Of The Project's Developer As A Qualifying Grantee (Grout, Rogers)
body
DIRECTING THE CITY ADMINISTRATION TO UTILIZE FUNDING FOR AN AFFORDABLE HOUSING DEVELOPMENT AND TO FACILITATE THE DETERMINATION OF THE PROJECT’S DEVELOPER AS A QUALIFYING GRANTEE.
WHEREAS, the City of Albuquerque has identified increasing the availability of affordable housing as an important public purpose and has resources available that may be used to support the development of affordable housing within the City; and
WHEREAS, the City Council desires to utilize available and eligible funding to support the development of the Cottages at 161 Chama, subject to all applicable requirements governing the use of such funding; and
WHEREAS, StreetVision Housing Strategies (formerly known as East Central Ministries) is developing the Cottages at 161 Chama, an affordable housing development intended to provide safe, stable, and attainable housing opportunities for Albuquerque residents; and
WHEREAS, the Cottages at 161 Chama project is consistent with the purpose of the State appropriations because it provides for the development and construction of affordable housing units within the City of Albuquerque; and
WHEREAS, the “affordable housing exemption” to the Anti-Donation Clause of the New Mexico Constitution, Article IX, Section 14, in conjunction with the Affordable Housing Act, NMSA 1978, Sections 6-27-1 et seq., and the Mortgage Finance Authority Act, NMSA 1978, Sections 58-18-1 et seq., outline detailed requirements to ensure governmental entities donate affordable housing resources only to “Qualifying Grantees”; and
WHEREAS, the City's Affordable Housing Implementing Ordinance, ROA 19...
Click here for full text