HomeMy WebLinkAboutItem 09- Fischer Village FundingAGENDA ITEM SUMMARY
SPRINGFIELD
CITY COUNCIL
Meeting Date:
Meeting Type:
Staff Contact/Dept.:
Staff Phone No:
Estimated Time:
Council Goals:
4/3/2023
Regular Meeting
Erin Fifield / DPW
Katie Carroll / DPW
541-726-3660
Consent Calendar
Promote and Enhance
our Hometown Feel
while Focusing on
Livability and
Environmental Quality
ITEM TITLE: FISCHER VILLAGE FUNDING
ACTION
Authorize the City Manager to negotiate and execute all documents needed to give
REQUESTED:
effect to the City's agreement with Habitat for Humanity of Central Lane to provide
$300,000 in funding towards construction of two homes at Fischer Village.
ISSUE
The City has identified a need for more housing that is affordable in Springfield and
STATEMENT:
has been especially interested in supporting opportunities for homeownership.
Habitat for Humanity of Central Lane is currently developing homes for affordable
homeownership in Springfield, relying on fundraising to complete project
financing. The Council has awarded funds to Habitat to assist with construction
using one-time funds received from the State legislature.
ATTACHMENTS:
None
DISCUSSION/
The City was awarded $1,000,000 in general funds by the Oregon Legislature as
FINANCIAL
part of Senate Bill 5561 (20212 d Special Session) to address housing insecurity,
IMPACT:
lack of affordable housing, or homelessness. In work sessions on February 14, 2022
and April 18, 2022 Council discussed potential projects to fund with these and other
one-time funds received during the COVID pandemic.
Council directed staff to award $300,000 to Habitat for Humanity to fund
construction of two homes at the Fischer Village project. Fischer Village will
include 12 homes for purchase by low-income homebuyers. The project will be set
up as a community land trust with permanent affordability.
If Council authorizes the City manager to execute the necessary documents, staff
will prepare a contract with Habitat for Humanity to provide the funding as a
forgivable loan, forgiven upon initial sale of the homes to low-income buyers at or
below 80% of the area median income.