SDLE Budget Could Include Affordable Housing Funds

Credit: Scottsdale Progress

The $1.78B tentative budget recently adopted by Scottsdale City Council includes up to $10M to address the city’s shortage of affordable housing.

The budget includes $346.3M in General Fund spending and $821.2M for capital projects. The capital projects budget is $130M more than last year.

Mayor David Ortega requested a $10M spending cap increase to include contingency funds for affordable housing or housing for the homeless.

The Scottsdale Housing Authority currently owns four properties in south Scottsdale that were purchased with federal funds and required to provide affordable housing. Scottsdale also has access to up to 755 vouchers from the U.S. Department of Housing and Urban Development for rental assistance. Due to landlord resistance, only 650 of those vouchers are currently in use.

City officials are in the process of marketing to landlords and reviewing financial models to determine if voucher amounts can be raised.

Even with no specific funding source detailed, Council approved Ortega’s $10M request. One possible source mentioned was a portion of the $29M Scottsdale received under the American Rescue Plan Act. The $10M allocation will remain in a special affordable housing revenue fund until a specific source is identified. (Source)

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