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Tompkins County committee to discuss Housing Capital Reserve Fund to combat instability

In an effort to combat housing instability, the Tompkins County Housing Committee will be discussing a proposed $3 million fund which would be used in line with housing-related goals and criteria established by the Tompkins County Legislature.

The $3,000,000 Housing Capital Reserve Fund would be pulled from the Unassigned General Fund Balance and funds would be restricted and remain in restricted reserves until allocated, according to county documents.

Examples for the use of funds include small five to 25 unit housing projects, rehabbing student housing to convert to family/workforce housing, encouraging employers to invest in housing by matching commitments, buying or putting purchase options on strategic sites, renovating houses and reselling them.

Legislator Martha Robertson, D-Dryden, proposed the fund in October during budget meetings. The Housing Committee will discuss the fund during a meeting at noon Thursday in the Legislature Chambers.

IthacaJournal.com:
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