Skip to main content
City of Albuquerque
File #: EC-21-313   
Type: Executive Communication Status: Filed
File created: 4/5/2021 In control: City Council
Final action: 5/3/2021
Enactment date: Enactment #:
Title: 2020 Workforce Housing Trust Fund Report
Attachments: 1. EC-313
Date Action ByActionResultAction Details
5/3/2021 City Council Receipt Be NotedPass Action details
4/19/2021 City Council Accepted with a recommendation Receipt Be Noted  Action details
4/12/2021 Finance & Government Operations Committee Sent to Council with a recommendation of Receipt Be NotedPass Action details
4/5/2021 City Council Received and Referred  Action details
4/5/2021 President Referred  Action details

 

 

INTER-OFFICE MEMORANDUM                                                                                                         February 17, 2021

 

TO:                                          Cynthia Borrego, President, City Council

 

FROM:                     Timothy M. Keller, Mayor

 

SUBJECT:                      title

2020 Workforce Housing Trust Fund Report                     

body

 

The 2020 Workforce Housing Trust Fund (WHTF) Report provides a summary of the overall achievements of the WHTF Program for calendar year 2020, and provides an in-depth look into what makes the program so successful.

 

WHTF dollars are often used as gap financing for multi-million dollar housing development projects. These funds make it easier for housing developers to bring in other investors and reduce the amount of high interest loan that they would otherwise have to take. This in addition to allowing the developers to incorporate long term energy efficient amenities into their designs help keep the housing affordable for longer periods of time.

 

The Workforce Housing Trust Fund Program is funded by a biannual voter approved

City bond. From 2007 through 2019, $45,738,000 of WHTF bonds have been

approved to further affordable housing opportunities.  The City’s Department of

Family and Community Services has administered the funds by contracting with non-

profit developers to create new housing opportunities.  Along with its federal grants,

the City has committed approximately $44 Million of WHTF to leverage more than

$300 Million in project activities. 

 

 

 

 

 

 

 

 

SUBJECT:                      2020 Workforce Housing Trust Fund Report                                                                                         

 

 

 

Approved:                                                                                                Approved as to Legal Form:

 

 

 

_______________________                      ___________                                          ____________________________                     __________

Sarita Nair                                                                         Date                                                               Esteban A. Aguilar, Jr.                                          Date

Chief Administrative Officer                                                                                    City Attorney

 

 

 

 

Recommended:

 

 

 

_________________________________                                          _______________

Carol Pierce, Director                                                                                                         Date

Family & Community Services