The City’s Affordable Housing Commission is preparing its third annual report. The document will highlight developments the Commission has supported over the past fiscal year that will improve the quality of life for many lower-income residents and, at the same time, give new life to existing buildings and vacant lots.
The $5 million available to the Commission annually would produce far fewer housing units if these funds were spent in a vacuum. However, by leveraging Trust Fund dollars with private dollars, non-profit dollars and energy, volunteer labor, and state and federal funds, the Commission will report an investment of more than $53 million in affordable housing activities was made possible in FY 2005.
The Commission’s work is another good example of successful teamwork — by voters who approved the tax, community groups, developers, other City agencies, advocates, elected officials, and the Commission’s own staff.