For Immediate Release: Thursday, April 15, 2021
Committee to review the operating budgets and Capital Improvements Program amendments for the Housing Initiative Fund, the Affordable Housing Opportunity Fund and Facility Planning
The Planning, Housing and Economic Development (PHED) Committee will meet on Friday, April 16 at 10:30 a.m. to review the FY22 Operating Budget and CIP Amendments for the Housing Initiative Fund, the FY21 Designated Reserve for Affordable Housing, the operating budget and CIP amendments for the Affordable Housing Opportunity Fund and CIP Amendments for Facility Planning.
The members of the Planning, Housing & Economic Development (PHED) Committee include Chair Hans Riemer and Councilmembers Andrew Friedson (Lead for Parks) and Will Jawando.
Housing Initiative Fund (HIF) FY22 Operating Budget Overview
Review: The Committee will review the County Executive’s recommended $89 million in funding for the FY22 Housing Initiative Fund (HIF), which provides funds for affordable housing production, preservation, support for rental assistance and homeownership programs and community-based services.
The Committee will also discuss the use of the FY21 Designated Reserve for Affordable Housing, which is funding that was held in reserve to implement the HOC Housing Production Fund and other new options for financing affordable housing.
Those expected to attend and provide information include: Aseem Nigam, director, Department of Housing and Community Affairs (DHCA); Frank Demarais, deputy director, DHCA; Stephanie Killian, Chief of Housing Division, DHCA; and Pofen Salem, Office of Management and Budget.
Affordable Housing Opportunity Fund
The Committee will review the County Executive’s Affordable Housing Opportunity Fund as a part of the original FY21-26 CIP. The fund would be primarily used for short-term financing of up to 36 months with a focus on the purchase and preservation of affordable housing.
The funds would be reserved for projects in partnership with the Community Development Financial Institution (CDFI). The Executive has recommended a FY21 Supplemental Appropriation and FY22 funding.
Facility Planning: HCD and Countywide Façade Easement Program
The Committee will review the County Executive's recommendation to shift $220,000 for the Countywide Façade Easement Program from FY22 to later years to reflect project delays due to COVID-19. The total $2.906 million in funding for the project remains the same. The project would revitalize commercial areas in the Glenmont and Layhill Shopping Centers, Montgomery Village, Hillandale and the Wheaton Central Business District.
The Committee will also review the County Executive's recommendation to reduce the Housing and Community Development (HCD) facility planning studies by $75,000 in FY22.
The Committee meeting schedule may change from time to time. The current Council and Committee agendas, Council staff reports and additional information on items scheduled for Council review can be viewed at: http://www.montgomerycountymd.gov/COUNCIL/ondemand/index.html.
On the guidance of Health Officer and Chief of Public Health Services Dr. Travis Gayles, there is currently no public access to the Council Office Building. The virtual Council meeting will be streamed live on the Council’s web page via YouTube and on Facebook Live and can be watched on County Cable Montgomery on Xfinity/RCN 6 HD 996/1056, Fios 30, and on the CCM live stream.
Release ID: 21-157