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AFFORDABLE HOUSING RESOLUTION • Whereas, the Council Vision Statement calls for housing that is affordable and attainable for people of all income levels, life stages, and abilities; and Whereas, the City of Charlottesville has demonstrated its commitment to affordable housing by increasing its investment in affordable housing from $375,000 2 years ago to over $2,000,000 this fiscal year; and Whereas, the City of Charlottesville provides significant additional funding for affordable housing through programs such as tax abatement and tax assistance for the elderly and disabled; and Whereas, the City of Charlottesville has committed to a five year, $5,000,000 increase in funding for affordable housing; and Whereas, despite these efforts affordable housing remains a critical issue for too many residents of our community; and Whereas, affordable housing is a critical issue not just for the City of Charlottesville but for the entire region; now, therefore BE IT RESOLVED that the Charlottesville City Council shall: • (1) Continue its commitment to affordable housing by making this issue a top priority; (2) Support increased funding in the upcoming (FY2009) budget beyond the 5 -year, $5 million commitment; (3) Consider substantially increasing funding for affordable housing in all upcoming budgets, taking into account economic conditions and council priorities; (4) Call upon the County of Albemarle to likewise contribute to addressing this regional problem by increasing funding for affordable housing, especially for low-income housing; (5) Work with the University of Virginia to ensure adequate student and workforce housing; and (6) Establish an Affordable Housing Fund, to receive public and private monies, including Council appropriations, private contributions and cash proffers, and with the City's Housing Advisory Committee make recommendations to Council regarding the disbursement of this fund, including eligibility criteria, programmatic priorities, goals and objectives. • Approved by Council February 4, 2008 Cluk of City Council