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From YouTube: Finance Meeting for February 1, 2021
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A
A
Okay,
changes
from
the
committee.
A
Yes,
okay.
Our
next
item
is
approval
of
the
consent
agenda.
We
have
one
item:
what
is
the
wishes
of
the.
A
A
A
A
A
A
Yes,
okay,
the
committee
meeting
minutes
have
been
approved
the
now
we
are
on
to
item
seven,
which
is
presentations.
The
first
is
the
fy
22
budget
hearing
schedule
miss
mccoy.
E
C
Okay,
our
meetings
will
commence
on
tuesday
april
13th.
The
meetings
will
be
in
the
afternoon
from
one
to
four,
as,
as
you
know,
everyone
is
well
aware
they
can
go
beyond
that
time.
Depending
on
how
much
discussion
is
involved,
they
will
be
tuesday,
wednesday,
thursdays
and
they
will.
The
last
meeting
will
be
tuesday
april
27th.
E
And
with
this
schedule
we
have
a
goal
to
have
the
governing
body
approval
the
final
vote
of
the
budget
on
wednesday
april
28th.
F
Sorry,
I'm
on
my
phone
because
my
computer
pretty
much
died
for
some
reason.
I
just
remember
from
my
notes:
it
was
one
day
I
think
it's
the
april
14th
date.
It
says
one
to
four,
but
we
have
a
council
meeting
that
day,
at
least
from
my
schedule.
E
If
it's
the
pleasure
of
the
committee,
what
we
can
do
is
we
can
end
that
day
early,
that's
what
we
had
scheduled
for
wednesday
april
21st,
but
on
any
of
these
days,
if
there's
a
4
p.m.
E
A
Yeah,
I
think
you
definitely
have
that
on
the
on
the
14th
and
I
think,
you've
accommodated
the
quality
of
life
on
the
21st.
By
ending
at
three.
Is
that
correct?.
A
Okay,
great
and
then
let
me
just
check
one
more
thing:
the
20th
we've
got
public
safety,
but
yeah
I'd,
look
at
the
calendar,
ms
mccoy,
and
just
make
the.
If
you
can
adjustments
if
need
be.
A
Okay
and
then
regarding
the
budget
hearings
themselves,
I
think
that
over
the
last
couple
of
years
for
sure,
there's
been
certain
things
and
I'll
look
back
at
my
notes
and
but
that
we
seem
to
ask
for
and
if
we
can,
just
as
a
committee
start
emailing
you
ahead
of
time
like,
for
example,
one
thing
that
always
comes
up
is
number
of
positions
in
a
certain
department
and
types
of
positions,
and
so
just
thoughts
like
that
from
the
committee.
A
Whatever
will
help
us
get
what
we
think
will
get
through
the
the
the
hearings
based
on
what
we've
learned
in
the
past.
That
would
be
helpful.
So
if
you
don't
mind,
emailing
miss
mccoy
or,
if
there's
information
you
want
ahead
of
time
like,
for
example,
sometimes
there's
questions
about
what
is
this
like
fund
area
from
or
what
is
this
code
about
things
like
that,
so
that
we
we
have
that
heads
up,
and
I
don't
know,
miss
mccoy
if
you've
thought
of
anything
else
based
on
our
previous
experience
with
budget
hearings.
E
Mr
chair
counselors
very
similar
to
our
midtown
presentation,
which
is
you
know,
fact-based
two-page
briefing.
What
alexis
and
the
budget
team
have
proposed
is
to
create
similar
briefings
on
on
these
recurring
questions
from
either
the
public
or
the
the
committee
members.
You
know.
One
of
the
questions
that
did
come
up
continuously
last
year
was
what
is
services
to
other
departments?
E
It's
a
particular
account
and
it
does
depending
on
the
department,
depending
on
the
funding
source,
it
does
fluctuate
so
alexis
and
her
team
will
go
through
and
they'll
combine.
You
know,
put
together
a
briefing
so
for
our
reference
throughout
the
budget
hearing
period.
A
Okay
and
then
miss
mccoy
you'll
be
prepping
us
between
now
and
the
first
hearing.
As
far
as
what
you
already
do
grt,
what's
happening
with
that,
and
then,
if
there's
anything
major
that
you
think
is
you
know
going
to
present
itself
or
is
all
is
affecting
our
budget,
you
will.
You
will
give
us
plenty
of
notice
and
we'll
have
discussions
about
that.
A
E
Dear
counselors,
yes,
and
we
would
be
open
to
doing
other
presentations
between
now
and
the
budget
if
the
committee
members
so
desired.
One
example
is
at
the
next
committee
mini
committee
meeting
on
the
15th.
We
are
going
to
hear
a
presentation
from
aeon
regarding
health
benefits,
as
well
as
give
a
status
update
on
the
health
benefit
funds
based
on
the
actuals
from
20
and
based
on
our
other
commitments
this
year
from
the
fund.
A
Okay
and
then
it
it
might
be
a
little
early,
but
last
year,
as
we
were,
building
up
to
our
budget,
we
already
saw
what
was
happening
or
what
was
gonna
happen
with
the
pandemic,
and
so
we
knew
like
we're.
Gonna
have
to
cut
our
budget
and
we're
gonna
have
a
budget
shortfall.
So
we
spent
a
lot
of
extra
time
dealing
with
how
to
address
the
budget
shortfall.
Do
we
see
another
shortfall
before
we
end
this
fiscal
year,
or
are
we
pretty
much
staying
on
the
budgeted
levels.
E
Mr
chair,
as
we've
discussed
in
some
of
these
meetings,
it
really
is
a
story
of
the
haves
and
the
have-nots
through
this
through
this
last
year
period
through
the
pandemic
and
the
the
corresponding
economic
recession.
So
certain
industries
we'll
hear
from
our
team
with
eli
and
his
his
team
about
affordable
housing
in
the
construction
industry.
E
What
our
revenue,
expectations
and
revenue
productions
have
been
for
the
first
six
months.
One
example
of
that
is
the
gas
tax.
You
know,
given
the
gas
prices
and
the
decreased
usage
due
to
some
of
these
stay
at
home
orders
and
the
restrictions
throughout
the
city
we're
actually
seeing
that
that's
underperforming,
so
it
really
is
a
mixed
bag.
We
look
forward
to
giving
you
a
second
quarter
financial
update
where
we're
at
you
know,
through
the
second
quarter,
ahead
of
the
budget
as
well.
E
A
Okay,
our
next
presentation
is
on
the
midtown
finance
and
the
intent
ms
mccoy
is.
I
want
to
make
sure
that
we,
as
a
finance
committee,
have
a
good
idea
of
what
the
existing
commitments
are.
We
don't
know
what's
going
to
happen
with
the
midtown
campus
and
but
I
I
wanted
to
make
sure
that
we
all
knew
and
had
a
presentation
as
we
go
into
those
future
decisions.
A
What's
the
existing
obligation
of
the
city
as
it
relates
to
midtown
and
the,
and
so
that
was
the
intent
of
this
presentation
and
then,
as
we
have
questions
for
you,
we'll
ask,
but
I
just
wanted
to
give
the
committee
an
update
on
what
the
intent
of
this
presentation
is.
E
There's
several
questions
that
we've
received
from
committee
members
or
other
counselors
or
the
general
public
about
you
know
exactly
what
the
chairman
was
stating.
What
is
our
commitment?
What
is
our
annual
commitment
in
terms
of
our
operating
budget?
What
is
our
debt
service
and
you
know
what
outstanding
debt?
What
is
the
timeline
along
with
that?
So
since
we
have
been
receiving
these
recurring
frequently
asked
questions.
E
We
decided
to
put
together
a
two
page
fact
sheet
and
really
take
you
back
to
a
decade
ago
when
the
city
entered
this
commitment
and
be,
and
so
brad
today
will
walk
you
through
again
these
facts,
the
timeline,
what
the
background
has
been
all
to
be
able
to
really
have
this
common
understanding,
a
common
ground,
common
knowledge
for
us
as
we
move
forward
and
really
the
at
the
bottom
of
the
second
page,
we
do
foreshadow
different
options
for
financing,
either
refinancing
or
future
financing
options.
So
this
is
not.
E
This
presentation
is
not
to
cue
up
any
type
of
immediate
decisions
that
the
committee
will
have
to
make
we're
really
here
to
say:
we
have
a
plethora
of
options
ahead
of
us
depending
on
the
timeline,
depending
on
the
development
plan,
depending
on
phasing
and
as
we
move
forward
into
the
coming
months,
we
do
plan
to
start
presentations
about
all
of
these
different
financing
options.
These
are
financing
options,
not
just
as
they
relate
to
midtown,
but
really
can
be
used
for
any
financing
that
the
city
would
like
to
enter.
E
Just
as
an
example,
there's
the
irb's
industrial
revenue
bonds,
that's
listed
on
the
second
page,
you
all
have
approved
recently
an
industrial
revenue
bond
for
el
castillo.
So
that's
something
this
committee
and
this
this
group
is
already
familiar
with,
but
we'll
go
ahead
and
lay
out
in
the
coming
months
through
different
presentations
through
our
staff
and
our
and
our
colleagues.
What
the
pros
are,
what
is
an
irb?
What
the
pros
are,
what
the
cons
are
when
to
use
it
when
it's
the
most
appropriate
time
to
use
it.
E
E
So
with
that
intro
I'll
turn
it
over
to
brad
to
go
over
the
background.
I'm
going
to
be
sharing
my
screen.
G
Good
evening,
chair
counselors,
so
just
on
a
background
july
29
2009,
the
city
state
of
new
mexico
and
laureate
education,
completed
the
transaction
acquiring
the
campus,
the
city
tapped
its
grt
bond
capacity
to
borrow
29
and
a
half
million
dollars
and
land
sales
in
the
state
of
new
mexico
contributed
the
remaining
12
million
that
completed
the
transaction.
G
The
city
executed
a
27-year
lease
with
laureate
debt
that
would
just
cover
the
debt
service
for
the
29.5
million,
which
was
2.35
million
per
year
june
30th
2018,
the
lease
with
lorite
education
was
terminated
by
mutual
agreement,
the
university
closed
and
the
city
became
fully
responsible
for
the
property.
On
july
1st,
in
july,
10
2019
we
refunded
the
original
29.5
million
dollar
bond
reef,
saving
the
city
five
hundred
thousand
dollars
per
year
in
interest
costs.
G
We're
going
to
come
back
to
that
when
we
get
down
to
the
other
finance.
We
have
more
to
talk
about
on
that.
G
G
So
you
can
see
how
you
know
what
we've
been
doing.
I
also
tossed
in
depreciation,
because
that's
an
annual
expense
just
so
that
you
know
what
what
that
plays
a
role
in
it
as
well.
We
have
two
large
revenue
sources,
garson
studios
and
santa
fe
recovery.
Those
are
the
two
largest
customers
or
lessees
on
the
campus.
Since
laureate
left,
the
largest
expense
is
debt
service.
G
We
have
reduced
it
from
the
2.35
million
to
the
1.7
million,
but
since
they,
you
know,
there's
no
one
funding.
It
that's
been
4.4
million
since
laureate
terminated
the
lease
the
next
largest
expense
is
repair
and
service
contracts,
and
a
lot
of
that
was
just
we
didn't
know
what
we
had
and-
and
there
was
a
very
strong
winter,
that
caused
a
lot
of
repair
and
maintenance,
and
so
the
you
can
take
a
look
at
the
graph
on
the
operations
I
spoke
with.
G
Sam
who's
been
managing
the
campus,
and
the
reason
why
fy21
is
down
substantially
is:
is
that
he's
been
working
under
the
assumption
that
we
were
going
to
turn
this
property
over
in
may
to
the
developer,
and
so
there
may
be
some
changes
to
the
fy
20
actuals
and
it
may
end
up
looking
more
like
the
fy
21
budget.
G
The
city
wanted
to
be
able
to
pay
off
the
debt
in
two
years.
Right
now,
when
we
looked
at
the
original
financing.
G
D
G
Well,
so
the
call
feature
has
an
expense:
it's
roughly
145
000..
When
you
look
down
there
at
the
refinancing
option,.
G
G
But
you
know
really
that
that
precludes
the
decision,
or
do
we
know
what
we're
if
we're
going
to
do.
If
the
city
is
going
to
do
something
dispose
of
the
property
in
the
next
three
years,
we
would
want
to
keep
the
call
option,
but
if
the
city
is
going
to
hold
on
to
it
and
develop
it
over
the
next
seven
to
ten
years,
we
would
want
to
refinance
it.
That's
a
decision
once
the
finance
committee
and
the
governing
body
has
had
an
opportunity
to
review
the
where
we
are
that's
coming
at
the
end
of
february.
A
Okay,
so
brad,
I
I
have
a
question
if
you
go
back
to
the
the
screen
with
the
bars
on
it,
the
bar
graph
yeah,
so
I'm
right
that
one.
So
if
I'm
reading
this
right,
then
for
fy21
budget,
we
we
with
the
you
basically
take
the
green
and
the
red.
Add
that
together
and
minus
the
0.5
and
that's
the
the
deficit
that
we
had,
which
five
was
5.4
million
last
year,.
G
Well,
okay,
in
the
chart,
so
the
green
bar
is
the
deficit.
A
A
A
A
D
Can
you
try
speaking
into
your
phone,
clear
or
renee,
I
can't
you're
hard
to
understand
yeah.
I
know
that's
better.
Okay,
what
I.
F
H
Good
evening
counselors,
I
I
apologize.
My
my
camera
is
not
working.
Mr
chairman
counselors.
I've
spoken
with
miss
varela
from
santa
fe
recovery
and
at
the
moment
their
the
expectation
is
12
to
18
months
before
they'd
have
a
new
facility
to
replace
the
space
they're
using
at
midtown.
F
Campus.
Thank
you
for
that
information
so
essentially
that
they
won't
be
necessarily
moving
anytime
soon,
correct.
H
F
To
know,
and
we
and
we
enjoy
their
partnership,
so
I
was
just
asking
in
terms
of
time
frame
and
they're,
also
one
of
our
operating
revenue,
but
just
wanted
to
make
sure
we
still
have
that
partnership
going
for
a
while.
Thank
you.
A
H
Absolutely
mr
chair,
at
the
moment
their
lease
runs
through
may
31st
and
I
believe
what
they've
asked
for
is
a
a
one-year
extension
through
may
31st
2020
and
at
the
moment,
at
their
current
capacity,
their
roughly
their
rent
is
about
35
000
a
month.
So
right
around.
I
think
it's
like
425
000
a
year.
A
Okay,
thank
you
other
questions
or
comments
from
the
committee.
I
Thank
you
very
much,
mr
chair.
On
that
point.
Our
our
sheet
here
says
that
those
are
the
two
largest
single
sources
of
revenue.
Do
we
have
additional
revenues
coming
in
that
we
could
also
potentially
be
losing
what
what
other
revenue
sources
does
it
look
like
on
the
campus
right
now.
H
H
H
Mr
chair
councilwoman
vital
spaces
lease
actually
expired
at
the
end
of
december
that
they
completed
their
one
year
and
they're
now
on
a
month-to-month
term
with
the
city
and
they
they
remain
very
active
in
the
space
and
is
I
I
personally
kind
of
consider
it
an
indefinite
tenant
anything's
possible,
but
they
they're
they're,
very
active
and
kind
of
entrenched
in
the
space
in
in
a
positive
way.
D
Thank
you
chair.
It's
just
a
comment
that.
D
We
have,
I
think,
that
we
have
urgency
and
what
we
need
to
do
with
this
property,
and
you
know
the
things,
the
options
that
we
have.
I
think
we
need
to
get
them
laid
out
as
quickly
as
possible
and
not
waste
any
time
in
being
decisive
about
what
we
want
to
do
with
this
property
and
how
we're
going
to
do
it,
because
I,
on
the
I'm
trying
to
look
at
that
bar
graph
again
on
the
I.
I
think
I
think
that
fy
21
budget-
it
may
be
optimistic.
D
I
don't
know,
but
I
think
this
project
deserves
our
attention
and
that
we
probably
need
to
approach
it
with
some
urgency.
It's
a
pretty
intensive
drain
budget
drain
for
us.
So
I'd
like
to
see
our
options
presented
to
us
as
quickly
as
possible
and
see
the
council
move
forward
as
quickly
as
possible.
Thank
you,
chair.
A
A
Or
marry
anybody
that
is
correct,
mr
chair,
okay,
so
so
I,
and
as
we
move
forward
with
different
options-
or
I
guess
that
the
the
main
thing
to
understand-
and
you
said
this
early
on
in
your
presentation-
is
depending
how
quickly
or
what
we
decide
that
22.8
million
will
have
to
be
factored
into
the
discussion.
G
That's
correct,
well,
the
refinancing
of
it.
You
know.
If,
if
you
know,
if
we're
gonna
do
something
right
away,
then
we
don't
have
to
do
anything,
but
if
it's
gonna
be
prolonged,
we
should
really
con.
It
needs
to
be
evaluated.
A
Okay,
all
right
anything
before
we
move
on
to
our
next
presentation,
anything
else
from
the
committee
no
okay,
thank
you.
Then.
That
brings
us
to
our
next
presentation,
which
is
an
update
on
land
use,
permitting.
A
J
You're
on
mew.
Thank
you.
Thank
you.
Thanks
counselors.
If
I
could
share
my
screen,
I
can
run
through
some
slides.
J
Is
can
everyone
see
the
map
on
the
screen.
A
J
Great,
so
this
this
map
here
is
showing
our
existing.
J
Development
pop
pipeline,
as
of
january
20th
of
this
year-
and
this
is
a
combined
map,
the
subsequent
maps
that
I'll
show
break
this
out
into
under
construction
and
things
that
are
in
the
approvals
pipeline.
But
I
think
this
map
is
instructive
in
showing
just
the
sheer
volume
of
housing,
construction
and
housing
review.
J
That's
going
on
in
the
city
right
now,
so
the
blue
parcels
are
under
construction.
J
The
yellow
parcels
are
land
use,
board
approved,
which
means
they've,
passed
planning,
commission
and
then
this
sort
of
peach
color
here
is
things
that
are
pending
land
use
board
reviews.
So
these
are
things
that
we've
received
either
pre-application
requests
or
are
on
an
upcoming
agenda
to
go
before
the
planning
commission,
and
so
you
see
the
unit
counts
here
you
know
under
construction,
1763
approved
and
under
review,
which
means
they're
pending
permits,
123.
J
J
So
if
we
start
looking
at
what's
under
construction
again,
this
is
the
1763
units
that
are
currently
under
construction
in
the
city
of
santa
fe.
You
see
these
are
range
in
size
from
you
know,
over
250
units
to
smaller
developments
in
the
sort
of
eight
and
and
four
range
and
those
are
the
single
family
developments.
These
larger
developments
are
multi-family
developments.
J
If
we
look
then
again
looking
at
things
in
the
pipeline,
these
are
approved
and
under
review
by
our
land
use
boards.
We
have
about
another
1628
units,
both
single-family
and
multi-family,
the
comp,
the
largest
concentration
of
those
are
in
in
districts
three
and
four
in
the
southern
part
of
the
city.
J
And
please
stop
me
if
you
have
questions
or
we
can
wait
till
the
end-
and
I
can
take
questions
then
this
this
here
is
showing
the
trends
from
going
back
from
1997
to
2017
and
then
I'll
have
a
subsequent
slide.
That
shows
sort
of
what's
happened
more
recently,
but
if
you
look,
we
saw
a
spike
in
housing
in
the
late
90s
and
then
following
the
great
recession,
we
saw
a
steep
decline
in
the
number
of
housing
units
built
in
the
city
and
then
as
we're
coming
out
into
2017.
J
We
we
see
things
picking
up
and
then
here
we
are
here's
2017
here
that
400
units
in
that
year
and
we
see
a
steep
increase
coming
into
2020
of
almost
about
a
thousand
units
a
year
and
that
ties
into
the
maps
that
I
showed
at
the
beginning
of
the
presentation.
J
If
we
look
at
these
graphs
here
and
looking
at
construction
permitting
and
revenue,
these
numbers
are
year-to-date
as
of
november
of
2020,
but
you
start
to
see
we're
sort
of
on
track
with
our
permitting
the
valuation
of
the
permits
is,
is
about
the
same
over
the
previous
year
in
2019,
but
we
see
a
big
jump
in
the
total
revenue
generated
and
this
number
actually
for
the
entire
year.
2020
was
actually
about.
E
J
The
reason
why
we
see
such
a
large
spike
in
the
permit
fee
revenue
that
was
generated
last
year
is
because
so
much
of
our
construction
curving
was
around
multi-family
housing
and.
D
Then,
if
we
ask
a
question
on
that,
eli
where
it
says
number
of
permits,
those
are
just
permits.
All
permits
like
if
I
wanted
to
do
an
addition
on
my
house-
is
that
one
of
those
permits
that's.
J
Correct
so
this
is
any
permit.
We
issue
from
a
you
need
to
you're
pulling
a
permit
to
do
plumbing
work
on
your
house,
a
trade
permit
to
a
large
new
residential.
You
know
home
or
multi-family
building.
So
this.
E
J
Of
our
permitting
out
of
the
out
of
the
land
use
department,
if
we
start
looking
at
sort
of
the
numbers
year
over
year,
this
goes
back
to
some
of
the
earlier
graphs
we
looked
at,
and
this
shows
the
proportion
of
multi-family
to
single
family.
J
You
know
in
2017
we
had
about
400
units
built
mostly
single
family,
and
we
see
that
balance
shifting
as
we
move
forward
in
2018,
2019
and
eventually
2020,
where
we
see
you
know
right
there,
almost
a
thousand
units
of
housing
permitted
last
year
and
the
vast
majority
of
those
are
multi-family
housing
units,
and
then
I
just
had
one
more
quick
slide
to
share.
J
I
wonder
if
I
can
get
there,
and
this
is
just
sort
of
showing
a
heat
map
of
where
our
permitting
is
happening
and
again,
this
sort
of
tracks.
With
some
of
the
earlier
maps,
we
looked
at
where
the
concentration
and
permits
are
happening
in
areas
where
we're
seeing
a
lot
of
multi-family
development
and
that's
because
not
only
are
they
pulling
permits
for
the
home
or
for
the
multi-family
buildings,
with
the
pulling
permits
for
electrical
work,
plumbing
work
sewer
work.
J
All
of
that-
and
so
we
see
a
large
concentration
in
permanent
activity
in
those
in
those
areas.
So
that's
that's
all
I
have.
I
also
have
some
information
as
well
around
grt
revenues
from
the
construction
industry.
Those
were
provided
to
me
by
the
finance
department
over
the
weekend.
J
If
we
look
back
at
last
year,
we
see
that
roughly,
you
know,
one-sixth
of
grt
that
was
generated
over
last
year
was
from
the
construction
industry.
As
the
finance
director
alluded
to
earlier.
You
know
we
saw
steep
declines
in
certain
areas
and
and
big
spikes
and
others.
The
construction
industry
in
santa
fe
was
one
of
those
areas
where
we
saw
a
big
spike.
J
J
I
think
in
a
lot
of
ways
the
work
around
construction
and
housing
more
more
specifically
has
really
been
an
important
part
of
our
local
economy
and
is
continuing
to
really
you
know:
buoy,
both
the
city
and
and
our
and
our
community
moving
into
this
year.
So
with
that
I'll
stand
for
any
questions,
okay,
questions.
J
J
I've
also
had
a
request
for
this
information
from
aia,
santa
fe
they've.
They
reached
out
actually
this
afternoon
and
asked
that
you
know
we
make
this
similar
presentation
to
their
membership
here
soon.
So
you
know
we
I'm
happy
to
talk
talk
about
this
with
anyone
who's
interested
in
learning
more
about
the
work
of
the
land,
use
department
and
trends
in
construction
in
our
cities.
Please.
I
Thank
you
very
much,
mr
chair,
and
thank
you
eli
for
presenting
again,
since
I
got
to
see
it
in
quality
of
life
as
well.
You
know
I'm
looking
at
the
the
first
map
and
really
seeing
a
lot
of
activity
happening
in
my
district
district
4
as
well
as
district
3
and-
and
I
know
eli
you-
and
I
have
had
this
conversation
previously
in
the
past.
I
Regarding
as
we
are
looking
to
build
more
units,
we
absolutely
have
a
housing
shortage
as
we
are
looking
at
more
affordable
housing,
but
also
how
this
really
ties
in
with
city
planning
and
determining
where
these
homes
are
going
to
go
and
how
this
corresponds
with
the
other
considerations
that
we
need
to
be
looking
at,
so
how
it
you
know,
corresponds
with
access
to
parks
and
which
schools
kids
would
be
going
to
roads
and
infrastructure
there.
J
Thank
you
counselor,
I
think
you're,
I
think
that's
spot
on.
I
mean,
I
think
so
you
know
alex
lava,
is
presenting
next
and
talking
about
strategies
around
how
to
divert
more
funds
to
the
affordable
housing
trust
fund
in
the
city,
and
you
know,
I
think
that
that's
a
super
important
conversation
to
have,
but
I
think
sort
of
coupled
with
that
is
we
need
to
be
talking
about.
J
Where
is
this
housing
going
to
go,
and
then
thinking
about
after
we
start
planning
for
where
the
housing
is
going
to
go
start
thinking
about
what
are
all
the
other
sort
of
associated
needs
and
impacts
of
that
residential
growth,
whether
it
be
access
to
open
space
impacts
to
our
traffic
networks,
resources
around
water
or
just
infrastructure
improvements?
More
generally,
and
so
I.
J
How
do
we
manage
this
growth
in
a
really
comprehensive
way,
and
I've
had
conversations
with
many
of
you
on
this
topic,
and
I
really
hope
that
in
you
know,
in
the
coming
months
that
we'll
be
able
to
really
make
some
some
strides
in
that
direction
and
really
try
to
start
thinking
more
comprehensively
and
more
long-term
in
terms
of
how
we
provide
you
know,
sort
of
an
equitable
future
for
all
the
residents
in
the
city
and
a
big
piece
of
that,
obviously,
is
our
centered
around
affordable
housing.
I
Yeah,
thank
you
so
much
for
that
eli!
It's
it's
something!
I
really
think
about
a
lot
that
it's
not
just
about
affordable
housing,
it's
about
affordable
communities
and
affordable
neighborhoods,
and
I
do
want
to
make
sure
that
we
are
not
divorcing.
Those
two
conversations
as
we
are
looking
at.
You
know:
how
do
we
increase
our
capability
to
build
affordable,
neighborhoods,
which
is
really
important,
but
the
neighborhood
piece
also
has
to
be
crucial.
I
So
thank
you
for
I'm
glad
that
that's
being
considered
and
thought
about-
and
I
definitely
want
to
be
continuing
that
conversation
and
looking
at
where
do
we
need
to
be
as
a
city
investing
internally
investing
externally.
You
know
how:
how
do
we
really
achieve
that
goal
as
opposed
to
just
kind
of
creating
a
mass
of
suburbia
that
could
be
any
town,
usa
and
not
necessarily
santa
fe?
So
thank
you.
K
J
Suburbia
is
expensive,
it's
expensive
for
the
cities
that
grow
that
way,
because
it's
really
expensive
to
provide
services
to
that
type
and
scale
and
density
of
development.
But
it's
also
really
expensive
for
the
residents
right.
If
you
live
in
a
suburban
area
that
doesn't
have
good
access
to
transit,
that
you
need
a
vehicle
to
be
able
to
get
to
work
or
to
get
to
the
grocery
store.
Those
are
real
costs
to
a
household
and
so
there's
ways
to
make
sort
of
living
in
santa
fe
more
affordable.
That's
not
just
by
making
housing
more
affordable.
K
J
Opportunities
for
shopping
retail,
where
you
can
work
live
play
all
in
a
sort
of
close
proximity
to
one
another,
and
so
I
think
that
those
are
important
questions
we
need
to
be
asking
ourselves
as
well
as
we
move
forward
is,
is
how
do
we
create
more
complete
communities
as
we
grow,
and
so
that's
definitely
something.
We
also
want
to
be
looking
at
moving
forward.
I
Thank
you
and
then
this
is
kind
of
a
weird
question.
Who's
in
terms
of
like
department
responsibility.
You
know
whose
job
is
that
is
that
land
use
is
that
economic
development
is
that
community
services?
Is
it
everybody.
J
Well,
I
think
it
is-
I
mean
so
in
in
when,
when
you're
talking
about
long-range
planning,
I
think
long
range
planning
is
really
at
the
nexus
of
a
lot
of
the
work
that
a
lot
of
different
departments
in
the
city
do,
and
so
I
I
think
it
would
be
a
natural
thing
for
the
land
use
department
to
take
the
lead
on,
but
it
would
certainly
work
closely
with
allied
departments
and
community
development,
such
as
economic
development
and
affordable
housing,
including
and
also
tourism
and
and
arts
and
culture.
J
I
mean
those
are
very
important
pieces
to
what
we're
talking
about
in
terms
of
creating
complete
complete
communities,
but
then,
obviously,
we
would
also
have
to
work
really
closely
with
force
in
public
works.
The
folks
in
public
utilities
as
well
as
you
know,
other
departments-
parks
open.
You
know
people
that
are
thinking
about
open
space.
You
know
it
really
would
take
coordination
with
with
a
large
portion
of
our
city
staff
to
really
think
these
issues
through
and
be
really
comprehensive
in
our
approach.
We're
moving
forward.
I
Okay
yeah.
Thank
you
very
much.
You
know,
and
I
guess
this
is
more
to
us
as
a
governing
body.
Sorry,
my
cash
trying
to
get
into
a
cabinet
always
something
here,
but
you
know
just
something
for
us
as
a
governing
body
to
yeah.
I
I
feel
like
this
is
one
of
those
things
that
the
city
as
a
whole
has
been
putting
off
for
a
really
long
time,
as
well
as
affordable
housing
and
building
affordable
housing,
and
it
is
something
that
really
concerns
me
and
I
want
to
make
sure
that
we
are
really
paying
close
attention
to,
and
you
know,
at
the
end
of
the
day,
we
have
to
put
the
resources
towards
it.
So
again,
thank
you.
D
F
Councilwoman
via
rael.
Thank
you,
mr
chair.
Thank
you
director,
isaacson,
for
presenting
we
heard
the
same
presentation
in
quality
of
life.
I
just
had
one
follow-up
question:
what
is
the
time
frame
that,
when
a
master
plan
gets
approved
that
they
have
to
construct
or
build?
J
More
open-ended
development
plans
are
good
for
three
years,
so
a
development
plan
is
the
type
of
plan
that
would
be
associated
with
some
of
these
multi-family
projects
that
we're
seeing
in
say
the
la
solaires
area
around
the
out.
You
know
around
the.
J
J
A
much
longer
life
span
than
your
sort
of
more
standard
development
plan
in
the
city.
F
And
I
asked
that
because
I
was
curious
know
we
hear
from
constituents
that
why
is
everything
happening
and
being
constructed
all
at
once
and
that
there
was
a
plethora
of
development
that
got
approved
all
at
once
and
that
actually
isn't
the
case,
and
I
I
guess
I
wanted
to
see
a
breakdown
with
this
map
to
see
how
many
of
these
developments
were
actually
approved
three
or
two
or
one
year
ago,
and
just
a
breakdown
to
understand
that
they
weren't
actually
that
it
didn't
happen
like
2020
and
that
they
got
constricted
right
right
away.
F
It
took
time
there
was
financial
needs
that
they
had,
while
the
economy
is
actually
doing
better
and
they
were
probably
able
to
to
construct.
So
I'm
just
curious,
if
you,
I
don't
know
if
you
have
the
answer
now,
but
if
you
could
dig
into
that
and
give
us
an
idea
of
like
out
of
all
of
these
that
are
currently
either
completed
or
under
construction.
F
What
how
many
of
those
were
from
the
from
previous
years?
Does
that
make
sense.
J
It
does,
and-
and
you
know
so-
there
may
be
a
few
in
in
sort
of-
let's
say
if
something's
under
construction
in
2020
there's
a
chance
that
maybe
it
was
approved
by
the
planning
commission
in
2020,
but
there's
usually
a
there's.
Usually
some
lag
time
there
right,
because
you
know
when,
when
you're
hearing
about
an
enn
happening
in
your
neighborhood
for
say
a
multi-family
development,
there's
going
to
be
quite
a
bit
of
time
before
that
project
is
actually
sort
of
coming
out
of
the
ground
and
has
permits
and
is,
is
moving
forward.
J
But
that's
there's!
You
know
anywhere
from
18
months
to
two
years
I
mean
that
can
be
a
very
lengthy
process,
and
so
things
that
are
sort
of
under
construction
now
generally
were
approved.
2019,
maybe
even
going
back
as
far
as
2018..
J
So
that's
that's
generally
how
things
how
things
go,
but
I'd
be
happy
to
try
to
break
things
down,
be
interesting
to
try
to
figure
out
how
to
show
that
on
the
map.
But
we
can
definitely
work
on
trying
to
show
that
graphically
when
things
were
approved
versus
where
they
are
now
in
their
sort
of
delivery
of
those
units.
F
L
E
J
F
A
Okay,
any
other
questions
or
comments.
A
L
And
please
feel
free
to
interrupt
at
any
point
in
time.
If
you
have
questions
as
we
go
along,
so
I
just
quickly
those
of
you
on
quality
of
life
heard
this.
I
just
wanted
to
quickly
revisit
our
general
affordable
housing
strategy,
how
we
provide
support
for
our
community,
which
is
through
a
three-legged
stool.
I
call
it.
We
have
some
regulation,
an
inclusionary
zoning
program
which
requires,
as
all
of
you
know,
a
percentage
of
new
development
to
be
affordably
priced.
L
We've
got
two
guiding
policy
documents
under
that
on
that
leg
we
also
spend
a
lot
of
time
and
energy
on
programming
and
capacity
building.
This
is
done
through
fee
for
services,
administrative
contracts,
affordable
housing,
economic
development,
community
services,
children
and
youth
arts.
L
Commission,
a
lot
of
divisions
of
the
city
have
have
followed
this,
this
strategy
as
well,
and
finally,
we
have
the
funding
and
that's
what
I'm
here
to
talk
about
tonight,
specifically
the
affordable
housing
trust
fund,
but
we
are
also
the
city
of
santa
fe
is
in
cdbg
entitlement
city,
which
means
we
receive
a
cdbg
grant
by
wright
every
year
from
the
department
of
hud
our
affordable
housing.
Trust
fund
is,
is
our
source
of
local
funding,
and
then
we
have,
as
all
of
you
know,
since
you're
on
the
council-
and
you
approve
my
budget.
L
We
have
some
general
fund,
so
the
funding
process,
our
rfp
just
posted.
Last
week,
we
have
two
of
them:
one
for
community
development,
community
development
block
grant
and
one
for
the
affordable
housing
trust
fund.
The
community
development
commission,
which
is
chaired
by
council
via
real,
considers
the
funding
applications
and
makes
the
recommendations
to
the
governing
body.
L
We
have
an
all-day
meeting
in
february
this
year,
it's
first
week
in
march,
where
the
applicants
make
presentations
and
then
the
community
development
commission
deliberates
and
allocates
the
funding.
We
do
a
lot
of
reporting
specifically
to
hud
for
cdbg
funds,
but
we
also
require
all
of
our
recipients
and
and
grantees
to
provide
quarterly
reports.
So
we
know
we
know
where
these
funds
are
going.
We
know
who
they're
helping.
I
want
to
also
just
emphasize
quickly
the
role
of
our
non-profit
community
partners.
L
The
city's
philosophy
from
way
back
was
that
building
the
capacity
of
community-based
partners
ensures
that
services
are
relevant
and
nimble
and
accessible
to
the
people.
We
are
trying
to
help
this
offsets
distrust
of
the
city,
government,
the
clunkiness
of
bureaucracy
and
the
lack
of
city-based
specialization,
and
what
this
really
means
is
that
I
don't
have
to
know
how
to
income
certify
somebody
or
how
to
underwrite
a
mortgage
loan,
because
I
have
talented
partners
in
the
community
that
can
do
that
for
me
and
just
again
if
they
are
receiving
cdbg
funds,
their
sub
recipient.
L
If
they're
receiving,
affordable
housing
trust
funds,
they
are
a
qualified
grantee
and
the
other.
The
other
big
advantage
to
this
is
that,
by
getting
resources
into
our
nonprofit
network,
our
partners
are
able
to
leverage
those
resources
in
a
way
that
the
city
is
not
so
the
affordable
housing
trust
fund.
L
It
is
funded
primarily
through
revenues
from
development,
so
developers
who
pay
fee
in
lieu
of
or
a
fractional
fee,
payoffs
of
city-held
liens
and
then
land
sales
in
tierra
contenta.
L
The
qualified
grantee
is
the
non-profit
or
organizational
corporation
that
uses
the
funds
or
the
individual
who
receives
them,
and
the
criteria
for
eligibility
is
120
percent
of
the
area.
Median
income,
which
makes
the
affordable
housing
trust
funds
work
really
well
with
cdbg,
which
has
a
upper
limit
of
80
percent
of
area
median
income,
but
we
know
plenty
of
people
in
this
community
who
have
decent
paying
jobs
who
are
up
at
that
higher
end
and
they
still
can't
afford
housing.
So
it's
it's
nice
to
have
both
funding
sources
to
help.
L
Now.
This
is
a
big
point.
This
last
this
last
bullet.
The
use
of
funds
must
be
compliant
with
the
new
mexico,
affordable
housing
act.
This
provides
the
exemption
to
the
new
mexico
anti-donation
clause.
This
is
codified
in
our
city
code,
chapter
26-3,
and
what
the
new
mexico
affordable
housing
act
does.
Is
it
says
that
it's
as
a
public
public
entity
can
use
public
resources
for
very
specific
and
limited
ways
to
support
affordable
housing?
One
is
through
the
capital,
cost
of
construction,
rehabilitation,
operation
or
preservation
of
affordable
housing
units.
L
Direct
financial
assistance
can
be
provided
to
income
certified
individuals,
and
this
is
done
typically
through
down
payment
assistance
or
rental
assistance
or
the
city
can
donate
or
or
sell
at
a
below
market
price,
publicly
owned
land
building
or
infrastructure.
So
just
emphasize
administration,
services
and
staffing
costs
are
not
allowable.
L
Typically,
in
any
given
year,
historically,
we've
used
trust
funds
about
15
percent
for
home
improvement,
emergency
repairs
for
homeowners
about
35
percent,
so
slightly
the
biggest
category
by
a
little
bit
for
down
payment
assistance.
Now
this
is
really
reducing
the
mortgage
principal.
So
it's
it's
less
of
well.
It
just
reduces
the
amount
of
loan
that
the
home
buyer
needs
to
borrow
rental
assistance
to
income
qualified
renters,
particularly
those
in
some
sort
of
unstable
or
precarious
housing
situation
or
who
need
to
be
re-housed
rapidly.
That's
about
a
quarter
of
the
use
of
funds.
L
We've
also
used
funds
to
for
the
capital
cost
of
construction,
and
that
includes
pre-development
and
design
and
energy
efficiency,
amenities,
that's
15,
and
then
we've
also
used
funds
to
help
our
homeless,
shelter
and
provider
and
our
permanent
supportive
rental,
housing
owners
and
operators
with
upgrades,
mostly
new
roofs.
I
can't
even
tell
you
how
many
new
roofs
the
city's
paid
for
for
these
facilities,
but
hvac
systems
are
a
big
one.
Accessibility,
improvements,
security
systems,
fire
suppression
are
the
big
ones.
L
So
this
is
another
really
important
point.
These
funds
are
intended
to
fill
a
funding
gap.
They
are
not
seed
money,
they're,
not
speculative,
and
the
evaluation
criteria
that
the
community
development
commission
uses,
weighs
that
that
experience,
the
capacity
and
and
particularly
the
ability
of
the
organization
to
leverage
more
funding
for
the
project
leverage
just
to
quickly
describe
it
includes
both
match,
so
that
would
be
an
organizational
resource
and
the
leverage
which
is
leveraging
resources
from
an
outside
resource.
L
We
bake
these
requirements
into
our
applications
so
for
every
one
dollar
of
cebg.
We
want
to
know
that
the
organization
hasn't
has
a
matching
dollar
from
another
source
for
affordable
housing,
trust
fund.
It's
even
more,
it's
a
one
to
three
required
ratio.
So
what
does
that
mean
in
the
real
world,
the
the
most
visible
since
it's
on?
What
used
to
be
city-owned
land?
And
it's
going
up?
L
I
hadn't
been
down
hadn't,
been
out
of
my
house
forever,
had
to
do
an
errand
drove
down
silent
road
the
other
day,
and
I
found
myself
gasping
out
loud
like
oh,
my
gosh.
It's
actually
going
up,
so
that's
really
exciting
and
I
think
all
of
you
know
the
breakdown.
It's
65
units
of
live
work,
housing,
that's
affordable
to
renters
at
60
of
area.
Median
income
below,
I
believe
it's
10
of
the
units
are
reserved
for
those
earning
less
than
30
percent.
L
So
some
of
those
folks
are
actually
going
to
be
folks
who
are
transitioning
out
of
homelessness,
but
there's
also
other
amenities:
shared
resources
for
entrepreneurial
support,
lots
of
open
space
and
it's
the
first
100
solar,
low-income
housing,
tax
credit
project
in
new
mexico.
So
that's
exciting.
So
this
is
what
the
financing
looks
like
the
there's:
a
private
debt
there's
a
5.4
million
dollar
loan
on
the
property.
The
organ,
though
the
developer,
donated
their
developer
fee
back
to
the
project.
L
Several
grants
and
various
sources
of
funding
were
raised
through
philanthropy
and
other
charitable
contributions.
The
tax
credit
equity.
So
this
is
the
subsidy
that
is
provided
through.
The
tax
credit
program
is
9.6
million.
The
solar
tax
credit
equity
is
another
167
000
and
here's
where
we
get
to
the
city's
park.
The
city
donated
the
land
at
a
value
of
1.3
million.
L
The
in
addition,
hundred
thousand
dollars
of
trust
funds
were
provided,
made
available
for
the
project
and
then
the
fee
waiver,
so
any
affordable
housing
project
in
the
city
of
santa
fe,
whether
it's
a
for-profit,
a
for-profit
unit
unit,
built
by
a
for-profit
or
nonprofit,
is
allowed
development,
fee,
waivers
and
and
reductions
in
in
various
waters,
water
fees
and
and
other
costs
which,
as
you
can
see
for
this
project,
is
substantial.
L
So
the
total
project
cost
is
18
million,
and
I
rounded
these
numbers
slightly.
I
had
a
professor
in
planning
school,
who
said
it's
always
better
to
be
generally
right
than
specifically
wrong,
so
these
numbers
are
a
little
bit
rounded,
but
you
get
the
picture
of
the
the
sheer
size
of
this
project,
and
so
what
does
this
mean?
The
the
leverage
of
the
city's
contribution,
so
that's
the
land
and
and
the
cash
and
the
fee
waivers
is-
is
an
eight
for
every
one
dollar
worth
of
value.
L
It's
an
eight
dollar
investment,
so
we've
leveraged
eight
dollars
for
every
one
dollar
that
the
city's
put
into
it.
The
grt
that
will
be
paid
just
on
the
construction
is
over
a
million
dollars,
and
I
think
this
last
point
is
really
interesting.
Daniel
provided
this
to
me.
He
crunched
some
numbers.
It
said
for
every
year
that
a
renter
is
paying
a
rent
affordable
to
their
income
and
at
this
project
it's
the
60
ami.
L
They
save
3
500
per
year
in
housing
costs
compared
to
what
they
would
be
paying
if
they
were
paying
a
market
rent,
and
I
believe
he
used
the
hud
fair
market
rent
statistic
for
that
and
for
the
lifetime
of
this
project,
which
is
40-year
minimum.
This
translates
into
over
9
million
dollars
of
collective
savings,
so
the
city's
one-time
investment,
it's
not
just
helping
somebody
once
or
creating
one
unit.
It's
creating
this
ongoing
savings
for
people,
which
I
think
is
a
really
important
point
now.
L
L
What
the
city
does
is
the
city
gives
five
percent
of
equity
to
a
participating,
homeowner
right
off
the
top,
so
reducing
that
280
by
5
is
266,
but
the
subsidized
price,
the
price
that
the
home
buyer
is
paying
is
155,
and
so
the
city
sets
up
a
lien
to
capture
the
difference
in
value
between
that
effective
sales
price
and
this
95
of
appraised
value.
The
purpose
of
that
lien
is
to
control
affordability.
L
This
is
so
that
when
this
home
buyer
sells
this
home
that
one
hundred
and
eleven
thousand
dollars,
assuming
that
there
hasn't
been
some
tragic
crash
in
the
market,
but
that
money
is
available,
it
is
available
it's
transferred
to
the
next
buyer,
so
it
effectively
can
keep
the
home
affordable,
and
this
is
kind
of
what
this
financing
stack
would
look
like
this
buyer
buying,
a
155
000
home
would
have
a
first
mortgage
of
125
000,
possibly
a
second
down
payment
assistance
type
of
of
loan.
L
These
are
usually
non-amortizing
and
no
payment
due
so
there's
they.
They
also
call
them
soft
seconds.
The
affordable
housing
trust
fund
loan.
So
this
is
a
twenty
thousand
dollar
mortgage
principal
buy
down.
So
it's
allowing
this
buyer
to
only
have
to
take
out
a
hundred
and
twenty
five
thousand
dollar
loan
versus
a
hundred
and
forty
five
thousand.
L
The
buyer
usually
has
some
out
of
pocket
costs
as
well,
because
we
want
to
know
that
somebody
can
have
can
can
save
enough
money
for
for
covering
some
of
their
transaction
costs
and
then
here's
the
affordability
lien.
So
that
adds
up
to
the
financing
ads
up
to
159
and
then
the
affordability
lien
covers
the
gap
between
the
financing
for
the
affordable
subsidized
sales
price
and
the
market
value
of
the
home.
L
So
this
turns
into
a
leverage
of
about
seven
to
one
when
you
look
at
just
the
private
debt,
which
would
be
the
first
loan
and
the
the
second
loan,
but
when
you
consider
the
value
of
that,
the
the
affordability
lien,
which
is
held
by
the
city,
that
creates
a
leverage
of
a
one
dollar
for
every
one
dollar,
affordable,
housing,
trust
funds,
we're
leveraging
14
of
value
from
other
sources
and
then
finally,
we
can't
talk
about
housing
without
talking
about
ending
and
preventing
homelessness,
and
I
think
a
really
important
point.
L
I
think
all
of
you
have
heard
kira
ochoa
say
this
multiple
times,
emergency
services
are
will
always
be
necessary
because
of
people
are
people
and
people
have
crises,
but
preventing
homelessness
and
or
rehousing
quickly.
People
experiencing
homelessness
is,
is
both
humane
and
cost-effective,
and
so
chair
of
beta-
and
I
talked
about
this
the
other
day
a
little
bit-
there
are
numbers
all
over
the
all
over
the
board
for
what
the
true
cost
of
homelessness
is
versus
housing
someone.
L
So
if
you
kind
of
just
I
looked
at
a
few
different
communities,
including
albuquerque
and
and
sort
of
the
standard,
was
somewhere
around
35
to
50
000
a
year
is
costing
taxpayers
in
the
form
of
jail,
bookings,
shelter,
services,
detox
programs,
emergency
medical
services,
hospital
stays,
etcetera,
it
costs
at
least
half
at
least
housing.
People
with
support
services
is
is
at
least
half
that
cost
and
probably
less
a
rapid
re-housing
voucher.
So
just
general
rental
subsidy
ranges,
and
this
is
for
for
more
incomes
and
just
chronically
homeless.
L
People
probably
need
a
little
bit
more
than
this
until
they
get
some
sort
of
income,
but
it's
about
seven
hundred
thousand
dollars
a
month.
So
then,
when
you
look
at
the
city's
total
investment
in
salary
yards,
which
comes
out
to
about
thirty
five
thousand
dollars
a
unit
or
if
you
only
look
at
the
affordable
housing
trust
fund
portion,
which
is
the
only
cash
portion
right,
the
rest
of
it
is
just
embodied
value.
The
cash
investments
three
thousand
dollars
a
unit.
L
So
how
would
you
like
to
spend
your
money,
thirty,
five
thousand
dollars
to
create
a
permanently
affordable
unit
or
35
000,
just
to
keep
somebody
from
dying?
Basically,
so
it's
it's
a
pretty.
I
think
it's.
The
numbers
really
show
that
continuing
to
invest
in
housing
as
a
solution
to
homelessness
is
really
the
only
the
only
way
we're
gonna
end
this,
and
then
I
want
to
talk
really
briefly
about
the
trust
fund
and
what
does
it
have
to
do
with
regulation?
L
I
think
all
of
you
are
familiar
with
a
little
bit
of
the
history
of
the
feedback
paying
the
fee
in
lieu
by
right,
which
is
for
rental
units
only,
and
that
was
that
that
buy
right
compliance
was
established
in
2016.,
with
a
four-year
sunset
in
2020.
It
was
made
permanent
and,
as
a
result
prior
to
allowing
the
fee
in
lieu
of
we,
our
market
had
not
seen
any
new
market
rate
rental
units
added.
L
But
since
that
that
allowance
was
made
in
2016,
750
rental
units
have
been
constructed
and,
as
eli
was
talking
about
about,
another
1700
are
under
construction
and
then
there's
a
whole
bunch
more
that
are
in
some
sort
of
part
of
the
land
use
approval
queue
and
what
does
that
mean
for
revenue
going
into
the
trust
fund,
because,
prior
to
the
fee,
in
lieu
of
the
all
of
the
revenue
sources
for
the
trust
fund
were
dependent
directly
on
develop
development
activities.
L
So
if
you
have
a
slowdown
in
the
market-
and
it
means
a
slowdown
in
revenue,
chair
contenta
hasn't
paid
much
in
for
years,
and
you
can't
really
predict
when
somebody's
going
to
sell
their
house
and
pay
back
their
lien
if
they
can't
find
another
income
certified
buyer.
So
there's
really
never
ever
a
predictable
amount.
Some
years
we
haven't
had
any
to
give
away.
Other
years
we've
we've
sort
of
we
created
a
400
000
threshold
a
few
years
ago,
because
it's
a
lot
of
work
to
go
through
to
give
away
any
less
than
that.
L
So
here's
what
the
the
revenue
table
looks
like
since
we
started
collecting
fees
in
lieu
of
so
that's
and
and
this
isn't
the
total
amount
we
have
probably
about
another
five
or
six
hundred
thousand
more
coming
from
other
sources.
But
this
is
directly
from
the
fees
fees
in
lieu
of
which
is
great.
L
Obviously,
I'm
going
to
accept
those
checks,
but
it's
it's
not
sustainable
because
of
this
idea
that
it
relies
on
our
market
absorbing
all
of
these
units
and
kind
of
to
the
original
point
back
in
the
other
presentation
like
is
that
the
best
way
for
our
community
to
grow
from
a
land
use
perspective?
You
know
it
may
not
be.
L
L
You
know
so
I
think
we
really
have
to
be
open
to
the
fact
that
that
we
may
not
be
relying
on
new
construction
to
accommodate
future
growth,
certainly
not
to
the
extent
that
we
are
now
so
just
a
little
food
for
thought
and
just
can
more
considerations
for
moving
forward
to
secure
a
more
predictable
and
sustainable
revenue
stream.
L
I
think
the
other
sort
of
paradox
is
that,
because,
right
now,
the
trust
fund
relies
mostly
on
development
revenues,
which
really
are
happening
when
the
market
is
booming,
which
are
also
connected.
I
mean
right
now
is
a
little
weird,
because
I
think
the
pandemic
has
kind
of
destroyed
our
economy
in
some
ways
but
supported
it
in
others,
but
that's
when
people
are
hurting
the
most
and
need
the
most
help
and
where
we
have
the
lowest
revenues
into
our
fund.
L
So
that's-
and
I
think
I
already
covered
the
second
point,
my
little
my
planner
soapbox
speech,
but
I
think
also
this
last
point.
L
We
we
put
an
exclusive
burden
on
the
development
and
land
use
industry,
and
so
we
really
need
to
look
at
what
are
some
of
the
other
economic
drivers
of
the
change
in
our
community
and
how
do
we
share
this
burden
equitably
so
that
the
opportunities
can
also
be
realized
in
an
equitable
fashion?
We've
talked.
There
are
lots
of
financing
tools
out
there
they're.
I
think
we
haven't
really
seen
the
opportunity
zones
take
off.
We
haven't
done
a
lot
of
the
sort
of
traditional
tax
increment
financing.
L
We
certainly
have
researched
and
looked
into
what
it
would
be
like
to
do.
A
bond,
an
affordable
housing
bond
like
the
city
of
albuquerque
does
typically
year
after
year.
More
and
more
people
approve
it.
F
Councilwoman
via
royale.
Thank
you,
mr
chair.
I
already
asked
my
questions
in
quality
of
life.
The
only
thing
I
wanted
to
mention
is
the
proposal
that
counselor,
lindell
and-
and
I
believe
mr
chair
you're,
also
supporting
the
effort
with
the
proposal
to
use
a
percentage
of
of
sales
of
city
land
that
would
go
into
the
affordable
housing
trust
fund.
F
I
think
we
need
to
hear
that
item
at
the
cdc,
because
that
directly
affects
us,
and
so
I
don't
know
if
that's
on
the
track
to
be
heard
at
cdc
at
the
community
development
commission,
and
it
should
happen
next
week
because
our
as
alex
indicated,
we
have
our
big
grant
review
process
in
in
march.
So
we
won't
be
able
to
hear
the
item.
F
I
Thank
you
very
much,
mr
chair.
I
just
want
to
make
sure
that
I
understood
and
then
emphasize
when
you
were
discussing
as
lot
about
the
cost
of
homelessness
that
was
one
individual,
correct,
35,
000
to
50
000
a
year
for
a
single
homeless,
individual,
yes,.
L
I
Yeah
I
just
I
wanted
to
really
bring
that
up,
because
it's
it's,
no,
it's
no
small
amount
and
we
we
do
often
balk
at
you
know
what
what
a
supportive
services
look
like,
but
I
think
comparing
it
to
the
to
the
alternate.
You
know.
I
It
just
being
the
right
thing
to
do
looking
at
the
economic
aspect
of
it.
So
thank
you
for
for
bringing
that
stat
up,
because
I
I
just
wanted
to
make
sure
that
that
was
highlighted
and
understood
that
that's
not
35
to
50
for
all
chronically
homeless
individuals
in
santa.
A
A
Okay.
Then,
let's
go
to
matters
from
staff.
E
E
So
we
look
forward
to
to
receiving
the
reimbursement
back
from
dfa
in
a
you
know
in
a
timely
manner,
but
we're
very
grateful
for
us
to
be
able
to
have
that
additional
source
of
funding
within
the
last
few
months
to
be
able
to
support
our
internal
operations
as
well
as
our
committee.
E
So,
mr
chair,
if,
if
it's
okay
with
you,
I'd
like
to
give
just
a
brief
outline
of
how
those
funds
were
spent
sure,
okay,
let
me
pull
this
up
now,
so
we
have
a
breakdown
we
had
in
terms
of
economic
support.
This
is
economic
support
to
individuals,
not
the
business
economic
support.
The
total
was
7.1
million
that
we
submitted
for
reimbursement.
E
2
million
of
that
was
santa
fe
suites.
What
the
council
authorized
is
gap
financing
to
so
the
nonprofit
could
purchase
santa
fe
suites.
This
was
key
to
support
housing
and
provide
you
know
safe
and
secure
housing
opportunities
to
and
to
mitigate
the
impact
of
the
congregate
housing
during
covet
19
and
to
properly
assist
the
individuals
that
were
impacted
by
copen
19
to
find
housing
the
midtown
emergency
shelter.
E
As
you
know,
we
have
a
contractor
that
is,
as
of
fy21,
has
taken
over
the
operations
the
day-to-day
operations,
so
we
were
able
to
seek
reimbursement
for
about
a
hundred
thousand
of
their
their
contractual
expenses
for
running
the
midtown
emergency
operations,
shelter.
E
In
addition
to
that,
we
did
have
what
we've
been
referring
to
as
direct
community
assistance
for
about
five
million
this
fight.
This
was
financial
assistance
that
we
were
able
to
provide
for
rent
and
utilities
for
individuals
that
did
face
economic
hardship
directly
related
to
copic
19..
E
We
were
also
able
the
balance
is
a
mix
of
paid
leave
for
employees
for
city
employees.
We
were
able
to
to
seek
reimbursement
for
approximately
one
million
dollars
for
this
paid
administrative
leave.
This
is
a
combination
of
the
kovit
19
admin
leave.
When
we
did
closed
facilities,
we
were
able
to
continue
to
pay
employees
in
the
spring,
so
that
was
about
three
quarters
of
a
million,
and
then
the
about
250
000
was
allocated
to
sick
leave
and
fmla.
E
E
This
is
everything
from
additional
ppe
masks,
in
addition
to
our
I.t
expenses,
to
improve
the
telework
opportunities
for
staff
and
then,
finally,
we
spent
about
250
000
on
administrative
expenses
to
be
able
to
support
our
non-profit
organizations,
as
they
were
administering
the
5
million
in
direct
community
financial
assistance,
as
well
as
our
own
accounting
and
compliance
and
reporting
for
the
for
the
grant
funding.
E
So
that
rounds
out
our
17
and
a
half
million.
A
Okay,
thank
you
anything
else.
A
I
think
counselor
kesset
sanchez
was
first
I'm
sorry,
I
didn't
see
the
hands
go
up.
Councilman
cassette
sanchez.
Thank.
I
You
no
problem,
they
went
up
like
popcorn,
I
just
I
can
you
clarify,
I'm
sorry.
I
think
I
missed
it.
The
difference
between
the
7.1
million
for
economic
support
and
the
5
million
in
direct
payment.
I
know
2
million
of
the
economic
support
was
santa
fe
suites
and
then
what
would
be
the
other
5.1?
The.
E
100
000
is
the
contract
to
operate
the
midtown
shelter,
so
the
south
cumulative
total
for
our
economic
assistance,
of
which
2
million
was
for
santa
fe
suites
100
000
was
to
operate
midtown
shelter
in
the
last
few
months
and
then
the
balance
of
that
the
five
million
was
for
our
direct
financial
assistance
for
rent
and
utilities.
F
E
Reimbursement
so
originally
in
the
spring,
the
city
provided
paid
administrative
leave
for
city
employees
due
to
the
coven
19
related
closures
of
city
facilities,
so
that
totaled
about
three
quarters
of
a
million
just
under
three
quarters
of
a
million
for
the
number
of
hours
that
we
continued
to
pay
city
staff.
Despite
the
fact
that
those
facilities
were
closed
and
some
of
those
individuals
were
not
reporting
in
for
productive
hours.
E
That
is
correct,
so
family's
first
coronavirus
responds
act.
That's
about
a
quarter
of
a
million
was
dedicated
to
that.
So
under
the
ffcra,
which
was
enacted
in
the
spring
by
the
feds,
the
city
of
santa
fe
was
considered
a
public
employer,
therefore,
deeming
our
employees
to
be
eligible
to
take
paid
sick
leave
and
expanded
fmla
in
the
event
of
a
coveted
19
related
incident
within
within
their
family
or
to
their
end
to
their
person.
E
So
hr
and
payroll
have
continued
to
keep
track
of
these
hours,
not
just
the
administrative
administrative
leave
in
the
spring,
but
also
the
hours
for
compliance
with
the
family's
first
coronavirus
response
act,
and
so
that
total,
that
those
were
eligible
expenses
and
that
total
came
out
to
about
one
quarter
of
a
million.
A
Okay,
anything
else,
mccoy
or
any
other
questions,
councilwoman
lindell.
A
A
Okay,
anything
else,
mary,
that's
all
for
now.
Okay
matters
from
the
committee.
A
And
I
don't
have
anything
under
matters
from
the
chair.
Our
next
meeting
is
february
15th.
Thank
you
and
thank
you
to
the
staff
for
the
presentations
this
evening.
That
was
great
okay.
So,
with
that
we
are
adjourned.
Hey
take
care,
everybody.