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NOTICE OF SPECIAL MEETING A SPECIAL MEETING OF THE CHARLOTTESVILLE CITY COUNCIL WILL BE HELD ON Thursday, October 9, 2008 AT 5:00 p.m. IN THE Basement Conference Room. THE PROPOSED AGENDA IS AS FOLLOWS: Work Session: Affordable Housing RESOLUTION: Supporting Regional Action Agenda on Housing and Designation of Council Representative BY ORDER OF THE MAYOR BY Jeanne Cox BASEMENT CONFERENCE ROOM – October 9, 2008 Council met in special session on this date with the following members present: Dr. Brown, Ms. Edwards, Mr. Huja, Mr. Norris, Mr. Taliaferro. Council Allocation of 2009 Resources Mr. Stu Armstrong, Executive Director of Piedmont Housing Alliance, provided information on what the City could leverage with an investment of $500,000 per year, and how it could be used. Mr. Armstrong said that with a goal of 200 units preserved for rental property, it would cost $150,000 per unit; with a goal of 100 new construction rental units, the cost would be $200,000 per unit; with a goal of 100 units preserved for home ownership, the cost would be $50,000 per unit; and with a goal of 200 units new construction home ownership units, the cost would be $225,000 per unit. Mr. Armstrong said that the total cost for these goals would be $100 million, approximately 87.4% of which could be leveraged. Mr. Armstrong said that one possibility would be for the City to issue bonds. Update on Previous Housing Expenditures Mr. Jim Tolbert, Director of Neighborhood Development Services, provided an update on previous affordable housing projects. Mr. Huja said it would help if we knew the number of units and had a chart showing funding and unit type. Dr. Brown said he would like to know what we have saved and created over the past five years and what we have lost in the way of affordable housing. Councilors reconfirmed their commitment to use $1 million in Strategic Investment funds over the next three to five years for affordable housing. Status of Joint Housing Task Force Mr. Tolbert said that the draft Joint Housing Task Force report will go to the Charlottesville Housing Committee next week, then back to the Joint Housing Task Force for review, then to City Council. Ms. Melissa Celii, Planner in Neighborhood Development Services, summarized some key recommendations of the Task Force: support for single room occupancy housing; support three tiers of affordability for proffered units; and provide permanent, dedicated annual funding. Discussion of Draft Housing Policies Mr. Tolbert reviewed questions Council had given to the Housing Advisory Committee: Where do you see gap in things that should be funded over a five-year period; Suggest numbers of units or other measures that would help to evaluate success;