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 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.
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 & Economic Development. There will be upfront ...
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