City of Pittsburgh - File #: 2023-1612

• File #: 2023-1612
• Version: 2
• Type: Resolution
• Status: Passed Finally
• File created: 6/2/2023
• In control: Committee on Intergovernmental Affairs
• On agenda: 7/5/2023
• Final action: 7/11/2023
• Enactment date: 7/11/2023
• Enactment #: 440
• Effective date: 7/19/2023
• Title: Resolution authorizing the Mayor and the Director of the Department Finance to enter into a Cooperation Agreement or Agreements with the Urban Redevelopment Authority for the City to provide annual contributions of up to Two Million Five Hundred Thousand Dollars ($2,500,000) to support a 2023 issuance for affordable housing, at a sum not to exceed Sixty-Two Million Five Hundred Thousand Dollars ($62,500,000) over twenty-five years. (Briefing held 6/20/23) (Executive Session held 6/30/23)
• Indexes: AGREEMENTS, COOPERATION AGREEMENT/S

Date	Ver.	Action By	Action	Result
7/19/2023	2	Mayor	Signed by the Mayor
7/11/2023	2	City Council	Passed Finally	Pass
7/5/2023	2	Standing Committee	Affirmatively Recommended as Amended	Pass
7/5/2023	2	Standing Committee	AMENDED BY SUBSTITUTE	Pass
6/30/2023	1	Executive Session	Executive Session Held
6/28/2023	1	Standing Committee	Held in Committee	Pass
6/28/2023	1	Standing Committee	Held for Executive Session	Pass
6/21/2023	1	Standing Committee	Held in Committee	Pass
6/20/2023	1	Briefing
6/14/2023	1	Standing Committee	Held for Briefing	Pass
6/14/2023	1	Standing Committee	Withdrawn	Pass
6/14/2023	1	Standing Committee	Motion	Pass
6/14/2023	1	Standing Committee	Referred for Legal Opinion	Pass
6/6/2023	1	City Council	Read and referred

Title
Resolution authorizing the Mayor and the Director of the Department Finance to enter into a Cooperation Agreement or Agreements with the Urban Redevelopment Authority for the City to provide annual contributions of up to Two Million Five Hundred Thousand Dollars ($2,500,000) to support a 2023 issuance for affordable housing, at a sum not to exceed Sixty-Two Million Five Hundred Thousand Dollars ($62,500,000) over twenty-five years.
(Briefing held 6/20/23)
(Executive Session held 6/30/23)

Body
WHEREAS, one third of Pittsburgh residents spend more than 30% of their income on housing, which is considered cost-burdened; increasing the likelihood that these households may have difficulty paying for other necessities, such as food, transportation, or health care; and

WHEREAS, the City of Pittsburgh's Affordable Housing Task Force, in their May 2016 Report, found there is a defined affordability gap of 17,241 units for households earning up to 50% of the city's median household income; and

WHEREAS, this same report found a lack of affordable housing is most severe for those at the lowest income tiers: there are only 34 units of affordable and available housing per 100 households earning less than 30% of the Area Median Income; and

WHEREAS, the City of Pittsburgh has since established an affordable housing trust fund known as the Housing Opportunity Fund, pledging $10,000,000.00 annually starting in 2018 for the creation and preservation of affordable housing opportunities; and

WHEREAS, the City of Pittsburgh and the Urban Redevelopment Authority of the City of Pittsburgh desire to ensure investments made in the creation and preservation of affordable housing are consistent with community goals, result in lasting affordability, and increase the City's tax base; and

WHEREAS, the City of Pittsburgh has found that funding pledged through the trust fund and other annual budget allocations are not sufficient to address the scale of Pittsburgh's affordable housin...