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Budget Amendment to Add Transparency, Fiscal Responsibility, and Impact to City Housing Initiative

  • Writer: Christian Willauer
    Christian Willauer
  • 2 days ago
  • 2 min read

I will be introducing a budget amendment tonight to ensure that taxpayer dollars meet community housing needs and make sure that the City has a fair and transparent process for non-profit and for-profit developers to apply for city funding to build affordable housing. This Budget amendment is a collaborative effort of Council Members Willauer, Owens, and Darby. 


The budget amendment will be to use $2.5 million from the Tax Stabilization Fund to fund the following programs that Council Members have introduced through legislation: 


$500,000 Emergency Rental Assistance: CM Owens 

$500,000 Eviction Prevention: CM Willauer

$500,000 Homeowner Repair Program: CM Willauer

$500,000 Fix Property Tax Assessments - this will be used to pay for appraisals and other valuation efforts that can be used to get New Castle County to fix assessment errors.


In addition, the Budget Amendment will include using $5 million from the Tax Stabilization Fund to fund an Affordable Housing Trust: CM Darby

  • The Affordable Housing Trust will be a fund that non-profit and for-profit developers can apply to get city funding to build affordable housing.

  • The Affordable Housing Trust will have a Community Advisory Board to guide its funding priorities, creating a structured way for the community to have a voice in how taxpayer dollars are spent. 

  • All funding awards made through the Affordable Housing Trust will have to be approved by Council and the Administration, just like funding awards through CDBG (Community Development Block Grants). This provides transparency and accountability. 


Estimated Impact:

$2.5 million funding for housing programs could help 750+ families in just one year:

  • Home Repair Program: 50 families @ $10,000

  • Eviction Prevention: 400 families @$1,200

  • Assistance for Security Deposit + First Month Rent: 200 families @$2,000

  • Emergency Rental Assistance 80 families @$ 6,000 per family

  • Getting New Castle County to fix errors across entire neighborhoods that were over-assessed could help thousands more homeowners achieve property taxes they can afford year after year.


$5 million for the Housing Trust Fund: The number of units to be created will depend on the priorities of the fund, which will be developed with input from a Community Advisory Board. The Housing Trust Fund will have a fair and transparent process for non-profit and for-profit developers to apply.


 
 
 

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