Ramping Up

You may recall my past posts about affordable housing and non-profit development in Ann Arbor. Now that the city's 05/06 budget is online, here's an update. During this fiscal year, the city anticipates revenues relevant to affordable housing of approximately $5.5 million. That is $2.23 million from a HUD/HOME grant, $2.19 million from a Community Development Block Grant, $786,000 from the Affordable Housing Fund (extracted from developers) and $227,000 from the DDA Housing Fund. This does not include rollover from last year, which sources indicate there was (as there is every year).

I have requested a meeting with Jennifer Hall, Housing Services Coordinator for the city, next week, and should have a better discussion of the issues and possibilities then. Stay tuned.