City of Alexandria, Virginia
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MEMORANDUM
DATE: DECEMBER 7, 2021
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: MARK B. JINKS, CITY MANAGER /s/
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Request for City Housing Opportunities Fund (HOF) Loan Funds for the Alexandria Redevelopment and Housing Authority (ARHA) to Support Ongoing Affordable Housing Repositioning and Redevelopment Activities Using Braddock Funds Reserved for ARHA.
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ISSUE: The Alexandria Redevelopment and Housing Authority (ARHA) has requested $300,000 in City Housing Opportunities Fund (HOF) monies to support the modernization, redevelopment, and repositioning of their assets.
RECOMMENDATION: That City Council:
(1) Allocate $300,000 from the City's Housing Opportunities Fund (HOF) Braddock Metro Neighborhood Plan monies to be loaned, as described in this report and depicted in Attachment 2, to support ARHA efforts to modernize, redevelop, and reposition portions of its affordable housing stock; and
(2) Indicate to ARHA that City Council supports the use of Braddock Metro Neighborhood Plan monies (currently $3.4 million) reserved for ARHA for its ongoing modernization, redevelopment and repositioning activities, subject to specific ARHA request and Council allocation.
BACKGROUND: Beginning in 2019, ARHA initiated a new strategy to reposition its affordable housing portfolio, including units operating as public housing subject to federal contracts with the U.S. Department of Housing and Urban Development (HUD) to become more financially viable over the long-term by utilizing other federal funding sources comprised of a mix of Rental Assistance Demonstration (RAD) conversions, Section 18 conversions (converting public housing subsidies to Section 8 subsidies), and mixed-income redevelopment. During a May 2019 Joint Work Session of the ARHA Board of Commissioners, City Council, and Planning Commission, ARHA ...
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