Title
Resolution Supporting the Inter-Cooperative Council at the University of Michigan, and NASCO, in their Efforts to Secure Federal Funding for the College Housing Loan Fund
Body
Whereas, The Inter-Cooperative Council at the University of Michigan (the "ICC") is a non-profit housing organization founded in Ann Arbor in 1932, that currently provides low-cost housing for over 500 students from various institutions of higher learning in Ann Arbor and Washtenaw County;
Whereas, The ICC provides housing to students at far below market rates or dorm rates;
Whereas, Part of the ICC's mission is to expand the number of students for whom it can provide affordable housing;
Whereas, The ICC is constantly upgrading its housing stock to improve the energy efficiency, fire safety, historic character, and the level of comfort for members;
Whereas, The ICC, and other student housing co-ops across the country, constructed facilities using funds provided by the federal College Housing Loan fund, which continue to provide affordable housing to students today;
Whereas, The ICC supports, and is a member of, the North American Students of Cooperation (NASCO) and its development services arm, NDS, in their efforts to secure funding for the College Housing Loan Fund from Congress and the Department of Education;
Whereas, Congress and the Department of Education have not funded College Housing Loan Fund in recent years; and
Whereas, The College Housing Loan fund, if funded again, could allow student housing cooperatives to expand and improve affordable student housing;
RESOLVED, That the City Council of the City of Ann Arbor, Michigan supports the Inter-Cooperative Council at the University of Michigan, and NASCO, in their efforts to secure federal funding for the College Housing Loan Fund to better create affordable housing for college students by providing funds for low-interest, long-term loans, and allowing cooperative student housing organizations to access those funds; and
RESOLVED, That the City Administrator shall send a certified copy of this resolution to United States Representative John Dingell; United States Senators Carl Levin and Debbie Stabenow; and request that they forward a copy of this resolution to appropriate Department of Education authorities.
Sponsored by: Councilmember Taylor