Question: How many people are currently served by the rental subsidy pilot program and at what cost per household? How many households could be served by an additional $100,000 or $200,000? (Vice Mayor Bagley)
Response:
Listed below are the updated numbers for the City-funded Project-Based Rental Assistance (PBRA) program. The City is currently assisting 46 households across five properties:
- 10 at The Bloom
- 5 at Lacy Court
- 12 at The Spire
- 10 at The Square at 511
- 9 at The Waypoint
The households are of various sizes, and the program currently serves over 110 people, of whom more than 45 are under the age of 18. The City will soon begin supporting an additional 10 households as follows:
- 5 at St. James Plaza
- 5 at The Nexus
The City is currently finalizing the grant agreements with the property owners and anticipates they will be in place by next month.
The Office of Housing estimates program costs of approximately $10,000 per household per year, meaning an additional $100,000 annually would support about 10 more households for one year, and $200,000 would support about 20 households for one year. It is important to note that this year, five years after the initial launch of the rental subsidy program, Housing has been studying its implementation, long-term feasibility, potential sources for future program funding, and specifically how households are referred to the program. In consultation with DCHS and subsidy partners, some changes to enhance long-term program sustainability are being incorporated in the new grant agreements as well as grant agreements when they are renewed. The current annual program budget as of today is $541,600, and these funds will be used to support payments for the households under current agreements.