City of Albuquerque
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File #: R-20-103   
Type: Resolution Status: Adopted
File created: 10/5/2020 In control: City Council
Final action: 10/19/2020
Enactment date: Enactment #:
Title: Designating Workforce Housing Trust Funds For The Acquisition Of Single-Family Residence On The Sawmill Community Land Trust (Benton, by request)
Attachments: 1. R-103, 2. R-103final
CITY of ALBUQUERQUE
TWENTY FOURTH COUNCIL


COUNCIL BILL NO. R-20-103 ENACTMENT NO. ________________________

SPONSORED BY: Isaac Benton, by request


RESOLUTION
title
Designating Workforce Housing Trust Funds For The Acquisition Of Single-Family Residence On The Sawmill Community Land Trust (Benton, by request)
body
DESIGNATING WORKFORCE HOUSING TRUST FUNDS FOR THE ACQUISITION OF SINGLE-FAMILY RESIDENCE ON THE SAWMILL COMMUNITY LAND TRUST
WHEREAS, the Workforce Housing Opportunity Act, ? 14-9-5 (C)(3) ROA 1994 authorizes the purchase of scattered site, single family housing as a priority use of funds; and
WHEREAS, the City of Albuquerque provided financial resources for the environmental remediation, construction of affordable housing, and down payment assistance to income-eligible homebuyers on the 27-acre site in the Sawmill district known as Sawmill Community Land Trust; and
WHEREAS, the mission of Sawmill Community Land Trust has been to promote affordable housing development, down payment assistance, other affordable housing opportunities, while remaining stewards of the Land Trust and all homes, facilities, and community spaces on the site; and
WHEREAS, Sawmill Community Land Trust is required to be involved in the resale of all single-family homes on the Land Trust to ensure that they further its mission; and
WHEREAS, the homeowner of one single family home located at 1100 18th Street NW, Albuquerque, NM 87104, has recently defaulted on its first mortgage and begun the foreclosure process; and
WHEREAS, Sawmill Community Land Trust has the right of redemption under such a foreclosure and deems the acquisition of the home an essential and urgent need to retain housing stock on the Land Trust due to its land use restrictions and mission; and
WHEREAS, Sawmill Community Land Trust does not currently have the necessary capital to acquire the single family home; and
WHEREAS, the City concurs with Sawmill Comm...

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