Title
RESOLUTION ESTABLISHING PROGRAMS FOR THE CITY OF DULUTH AFFORDABLE HOUSING TRUST FUND.
Body
CITY PROPOSAL:
WHEREAS, the Duluth Housing Trust Fund (“HTF”) was established on October 25, 2021 by City Ordinance 21-049-O (the “Ordinance”) to assist in filling existing gaps in the housing financing market to increase the housing stock in Duluth and invest in increasing availability of affordable housing units in all of the city’s neighborhoods; and
WHEREAS, consistent with the requirements in Sec. 2-170 a) of said Ordinance, HTF Programs that will be used to implement the HTF must be created be resolution of the City Council.
THEREFORE, BE IT RESOLVED, that, pursuant to Section 2-170 (a) of the city Code, 1959, as amended, the Housing Trust Fund Program as set forth in Exhibit A attached hereto is hereby established.
Statement of Purpose
STATEMENT OF PURPOSE: The purpose of this resolution is to obtain City Council’s approval for programs that deploy the funds and implement the goals of City’s Housing Trust Fund (Exhibit A) for new construction and housing rehabilitation in Duluth.
The City and Duluth Mayor Emily Larson convened a Mayor’s Housing Task Force in 2019 to evaluate the housing needs in Duluth and develop recommendations regarding new local tools and resources to assist with the development of new affordable housing. This process resulted in a report completed in March of 2020 that recommended multiple opportunities; primary among them was the establishment of a housing trust fund.