Submitted by: Hollingsworth
Submitting Department: Legislative
Agenda Section: Discussion
Item Title:
title
Multi-Family Property Improvement Program
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Suggested Action:
recommendation
I move that the Mayor and Council authorize the City Administrator (or her designee) and the City Attorney to draft an ordinance to create the Multifamily Improvement Rebate Program. The ordinance shall provide for the following:
• Offering a rebate of $1 for every $2 invested in critical multifamily upgrades and improvements that increase energy efficiency, remediate environmental toxins, improve air quality and circulation, and/or increase reliability of heating and cooling systems, up to $50,000.
• The Mayor and Council to authorize the cumulative award ceiling for each fiscal year.
• Prioritization for funding of multifamily properties designated affordable and/or for senior and disabled residents.
• Eligibility limited to multifamily buildings of more than four (4) units.
• Rebate to begin upon commencement of improvement project.
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Summary Background:
In July 2020, the Mayor and Council adopted a resolution that will provide tax incentives for the development of affordable housing in the City of Hyattsville. Existing properties housing low-income and/or senior or disabled residents are frequently reported for allergens and defective heating, ventilation, and air conditioning (HVAC) units or are in general disrepair. The purpose of this rebate program is to provide an incentive to existing property owners to make needed upgrades to the properties to improve living conditions for residents.
The Council held an initial discussion on December 7, 2020.
Next Steps:
Council discussion and possible action.
Fiscal Impact:
Funding for this program would be contingent upon a recommendation of the Treasurer and City Administrator to the Council based on the City’s annual and long-term financial outlook.
City Administrator Comments:
This item was reviewed by the City Administrator, City Treasurer, and Director of Community and Economic Development. There will be upfront program development costs and the need for a consultant to administer and manage the program. A memorandum assessing the below is included:
• Financial impacts, obligations, and capacity
• Administrative capacity to develop and manage the program
• External sources of funding to reduce costs
• Estimate of eligible multi-family applicant sites
If approved, recommend implementation be considered for FY 2023 or later. The costs to execute and administer the program are currently unknown. The delayed start will afford time to evaluate the financial impact of FY2021 and FY2022 and allow the staff the ability to assess program costs and help inform recommendations on program development and implementation.
Community Engagement:
TBD
Strategic Goals:
Goal 2 - Ensure the Long-Term Economic Viability of the City
Legal Review Required?
Pending