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Addressing needs of extremely low-income households in affordable housing

0:51:10

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Council Member Áviles raises concerns about extremely low-income (ELI) households, highlighting the need for affordable rents for families earning around 20% AMI. She inquires about the average time for an ELI affordable project to move through the pipeline.

Discussion of income thresholds for ELI households (20% AMI for a three-person family is $25,420)
Emphasis on the need for rents at $1,100 or less for these families
Mention of the low vacancy rate (0.39%) for units affordable to ELI households

Alexa Áviles

0:51:10

Okay, I'm sure you're aware that this report is four hundred plus days overdue, so we're eagerly awaiting its release.

0:51:21

In terms of extremely low cost extremely cost burden households.

0:51:31

20% AMI for a three person family is is 25,420.

0:51:38

These are families who need rents that are 101 1,100 less for which the HVS found a tiny vacancy rate of only point 39%.

0:51:53

How long does it take on average for an ELI income affordable project to move through the pipeline?

0:52:00

And has that been increasing or decreasing?

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Timeline and challenges for extremely low-income affordable housing projects