HomeMy WebLinkAbout~Master - Resolution authorizing application to Story County for $230,000 to assist in the construction of three single-family affordable ownership housing units in the Baker SubdivisionRESOLUTION NO. 26-487
RESOLUTION AUTHORIZING APPLICATION TO STORY COUNTY
TO ASSIST IN THE CONSTRUCTION
OF THREE SINGLE-FAMILY AFFORDABLE OWNERSHIP HOUSING UNITS
IN THE BAKER SUBDIVISION
FOR THE CITY OF AMES, IOWA
WHEREAS, Story County announced the intent to utilize tax increment financing
(TIF) revenue from the County's Urban Renewal Area to support the construction of new
affordable housing within the County. Local governments are eligible to apply for the
funding by August 5. If the funds are awarded, the local government would be reimbursed
for costs for construction when the County collects TIF revenues annually within its Urban
Renewal Area; and,
WHEREAS, staff believe that applying for these funds would facilitate the City's
plan to utilize federal HOME funds to construct three ownership single -family homes for
low and moderate income households. The requested funds can be counted as the
required 25% local match for use of HOME funds; and,
WHEREAS, in April 2026, the City was notified that Story County would implement
a "New Housing Incentive Fund" and was invited to attend a required meeting about the
program if the City was interested in applying. In May 2026, Story County announced that
applications were being accepted for its "Urban Renewal Area Program ” under its Story
County, Iowa LMI Housing Support Program. Under this program, Story County has set
aside approximately $2 million for which cities can apply; and,
WHEREAS, based on the program criteria, this funding opportunity would meet
the City’s HOME local match requirements and provide the additional dollars needed to
construct the three homes outlined in the 2026 -27 CDBG/HOME Annual Action Plan
under the New Single-Family Home Construction activity.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames,
Iowa, that the application to Story County for $230,000 to assist in the construction of
three single-family affordable ownership housing units in the Baker Subdivision is hereby
approved.
ADOPTED THIS 28th day of July, 2026.
_______________________________ _________________________________
Renee Hall, City Clerk John A. Haila, Mayor
Introduced by: Betcher
Seconded by: Gartin
Voting aye: Beatty-Hansen, Betcher, Corrieri, Junck, Gartin, Rollins
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 28th day of July, 2026.