City of Somerville header
File #: 25-0651    Version: 1
Type: Mayor's Request Status: Approved
File created: 3/27/2025 In control: City Council
On agenda: 4/24/2025 Final action: 5/15/2025
Enactment date: 5/8/2025 Enactment #: 218955
Title: Requesting the appropriation of $1,468,693 from the Community Preservation Act Affordable Housing Reserve to the Affordable Housing Trust.
Indexes: Finance-Assessing, Finance-Auditing, Finance-Budget, Finance-Grants Development, Finance-Procurement & Contracting Services, Finance-Treasury, SPCD-Community Preservation
Code sections: Appropriation/Budget -
Attachments: 1. CPC Rev. Funding Rec Affordable Housing Trust FY25

Agenda Summary

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Requesting the appropriation of $1,468,693 from the Community Preservation Act Affordable Housing Reserve to the Affordable Housing Trust.

 

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Official Text

To the Honorable City Council:

 

The Mayor respectfully requests that this Council appropriate $1,468,693 from the Community Preservation Act Fund Affordable Housing Reserve to the Somerville Affordable Housing Trust. The appropriation will be allocated to the Housing Trust CPA Fund (Org #37024). This item supersedes a previous authorization, 25-0053, due to a clerical error.

 

Details of this request are available in the attached funding recommendation from the Community Preservation Committee.

 

Appropriate staff will be available to address any questions you may have. Thank you for your consideration of this item.

 

Respectfully Submitted,

Katjana Ballantyne, Mayor