Title
Fund Authorization for Housing Authority of the City of Annapolis (HACA) - For the purpose of rehabilitation funding for the Housing Authority of the City of Annapolis by repurposing $500,000 in the Fiscal Year 2025 City budget.
Body
CITY COUNCIL OF THE
City of Annapolis
Resolution 44-24
Introduced by: Mayor Buckley
Referred to:
Finance Committee
A RESOLUTION concerning
Fund Authorization for Housing Authority of the City of Annapolis (HACA)
FOR the purpose of providing rehabilitation funding for the Housing Authority of the City of Annapolis by repurposing $500,000 in the Fiscal Year 2025 City budget.
WHEREAS, The Housing Authority of the City of Annapolis (HACA) was created in 1940 under state law and the National Housing Act of 1937 to provide safe, decent, and sanitary housing for low-income families of Annapolis by the rules and regulations provided by the U.S. Department of Housing and Urban Development (HUD)
WHEREAS, HACA is a board-managed non-profit and a legal entity separate from the City of Annapolis; the City is not financially accountable for HACA operations, nor is it responsible for the Authority's deficits, and does not guarantee HACA's debt; and
WHEREAS, HACA has 554 public housing units throughout four different communities located throughout the City;
WHEREAS, the primary source of HACA's funding comes from HUD through a variety of federal programs, including Public Housing, which comes in the form of Section 8 housing assistance, subsidies, the Housing Choice Voucher Program, and grants.
WHEREAS, In the Fiscal Year 2025 budget summary, HACA projects revenues to be $15,225,623 with operating expenses of $15,605,822, resulting in an overall loss of $380,199 and a deficit of $439,182 within its Public Housing budget for FY25; with the deficits attributed to rental delinquencies, City inspections requiring renovations, court orders putting rent payments in escrow, and loss of HUD subsidies.
WHEREAS, HACA needs a...
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