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MattersHousingFirst seen Apr 1, 2019

Ledcor rent-to-own partnership

Approved

The city partnered with Ledcor on a 36-month rent-to-own program, using its Affordable Housing Reserve to contribute $5,000–$6,000 for each successful sale, for up to 20 units. The city contribution is capped at $120,000 to support access to home ownership.

Where it stands: Staff directed to enter the partnership Apr 1, 2019.

Timeline

Every time this matter appeared in council records, newest first.

  1. April 1, 2019· Council

    Staff directed to fund a 36-month rent-to-own partnership

    Council directed staff to enter into a 36-month Rent-to-Own partnering agreement with Ledcor and to use Affordable Housing Reserve funds to provide $5,000–$6,000 per successful sale for up to 20 units (maximum $100,000–$120,000).

    Decision: Directed staff to enter a 36-month rent-to-own with Ledcor and use up to $120,000.

    Passed