(A) The Albuquerque/Bernalillo County Comprehensive Plan's goal is to increase the supply of affordable housing and ameliorate the problems of homelessness and displacement; and
(B) The city's Five Year Consolidated Plan 2018 - 2022 shows that 20,370 renter households are severely cost-burdened and 12,300 homeowner households are severely cost-burdened; and
(C) There are currently 5,500 households on the Section 8 lottery pool of the Albuquerque Housing Authority; and
(D) On any given night in Albuquerque, at least 1,320 people are sleeping outside or in shelters, including families with children, veterans and people with disabilities and their path to independent living depends upon permanent, affordable housing; and
(E) Working families having safe, decent and affordably priced housing in stable neighborhoods is advantageous for personal success in school and work and is therefore a prerequisite for the economic success of our community; and
(F) The Workforce Housing Trust Fund created in accordance with the city's Workforce Housing Opportunity Act, and the state's Affordable Housing Act and Rules, has created over 900 units of affordable housing over the period of 2007 to present, generated over four times the city contribution in private investments and supported near 1,500 construction jobs; and
(G) In order to maintain production of workforce housing to meet the needs of working families an adequate and stable source of funding is required.
(Ord. 30-2006; Am. Ord. 2015-001; Am. Ord. 2019-016)