Affordable Housing Trust Fund reports awards and $319,557 balance; Bridal Property on hold

Carrie Higgins, speaking on behalf of the Affordable Housing Trust Fund, summarized the fund's activity and next steps. She said the trust fund reached its initial $1,000,000 goal in June 2023, distributed its first three awards in July 2026 totaling $931,947.50 (Cent Inc. for five infill homes; Highland Park townhomes for rehab; Bridal Property Development for renovation of 24 units to a co‑op structure) and currently has a balance of $319,557.07. Carrie said the Bridal Property project is paused while the developer seeks a lender and that no city money has been advanced without a development agreement and mortgage protections in place.

The trust‑fund committee recommended a second, smaller round of RFPs targeted to smaller entities and individuals, and it plans a public forum on September 16 for community input. Carrie also noted the committee's prior vote (11/12/2025) recommending a 0.1¢ sales tax for housing and homelessness to create an ongoing funding source for the trust fund.