Title
Resolution to Pursue Affordable Housing at 721 N. Main
Staff
Reviewed by: Kevin McDonald, Senior Assistant City Attorney
Jennifer Hall, Executive Director, Ann Arbor Housing Commission
Teresa Gillotti, Director, Office of Community & Economic Development
Brett Lenart, Planning Manager
Body
Whereas, Housing costs are typically a household's largest single expense, critically affecting quality of life;
Whereas, In 2015, the City of Ann Arbor partnered with the U.S. Department of Housing and Urban Development and Washtenaw County to produce the Housing Affordability and Economic Equity Report ("Report");
Whereas, A primary goal of the Report was to maximize housing opportunities for lower and middle class households;
Whereas, The Report highlighted that housing in Ann Arbor has become unaffordable for 45% of households making $35,000-$49,999 a year, 87% of households making $20,000-$34,999, and 94% of households making under $20,000;
Whereas, Ann Arbor is the least affordable city in Michigan with median rents 22% higher than the rest of the state;
Whereas, Residents of Ann Arbor continue to feel the pressure from a lack of housing options with average rents increasing nearly 15% since 2015;
Whereas, Neighborhoods such as Arbor Oaks and Water Hill are seeing significant demographic shifts due to a lack of housing options city-wide;
Whereas, In response to the Report, City Council adopted a goal to construct 2,800 new units of affordable housing by 2035, or 140 new units per year;
Whereas, Since 2015, only 50 dedicated units of affordable housing units have been built within the city limits;
Whereas, Regionally, Over 1500 units have converted from dedicated 'Affordable' to market-rate, as terms of Low-Income Housing Tax Credits and other funding requirements have expired and an additional 800+ units will be expiring;
Whereas, Results from the 2018 City Budget Prioritization Surv...
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