§ 27-164. Powers and duties.

The general purpose of the committee is to render advice and recommendations to the executive director of the office of economic development in regard to the planning and implementation of city programs and services to preserve and increase the supply of affordable housing in the city, to the extent such programs and services to preserve and increase the supply of affordable housing in the city, to the extent such programs and services are supported by expenditures from the affordable housing permanent funds, as provided in section 27-150, and federal or other funds allocated by the executive director of office of economic development for housing development, preservation or programs. The specific powers and duties of the committee shall be:

(a)

To recommend goals, objective and policies to inform the adoption of three- to five-year comprehensive housing plans for city housing expenditures, including, but not limited to, the permanent funds and any federal or other funds allocated by the executive director of the office of economic development for housing development, preservation or programs. The executive director of the office of economic development shall direct city staff, independent consultants, or a combination thereof, to solicit input and develop the comprehensive housing plan to be reviewed by the affordable housing advisory committee and recommended for submittal to the city council by September 1 of the year prior to the plan's first program year for subsequent approval. Notwithstanding the foregoing, the first three- to five-year comprehensive housing plan shall be submitted to the city council by October 1, 2017, for subsequent approval. The three- to five-year comprehensive housing plan shall include, at a minimum, the following elements:

(1)

Comprehensive list of city housing expenditures intended to preserve and increase the supply of affordable housing, to be developed in coordination with agencies such as the Denver Housing Authority and Denver Urban Renewal Authority where external housing expenditures are planned;

(2)

Establishment of measurable goals for each type and category of city housing expenditure with consideration and reference to planned external housing expenditures where possible, including financial and production goals for a mix of housing affordable to households in various ranges of area median income (AMI), subject to the AMI limitations set forth in section 27-150 for the permanent funds, and appropriate income limitations according to other housing program requirements;

(3)

Financial and production goals for a mix of affordable rental and for-sale housing;

(4)

Specific provisions for tracking and reducing the effects of gentrification and displacement on lower income households in neighborhoods with the most rapidly escalating housing costs;

(5)

Parameters for usage of a portion of the revenue in the permanent fund derived from the dedicated affordable housing property tax levy for supportive services;

(6)

Parameters for usage of a portion of the revenue in the permanent funds for land banking and other tools to preserve locations in the city for future development of affordable housing; and

(7)

Parameters for the use of permanent funds to maximize mixed income development.

(b)

To recommend annual action plans intended to implement the overall comprehensive housing plan to prioritize and allocate city housing expenditures based on current conditions;

(c)

To review annual progress reports evaluating implementation of city housing expenditures on unit production, including an explanation of discrepancies between plan goals and actual unit production where possible, and compliance with the comprehensive housing plan by the office of economic development, with such reports to the delivered to the city council;

(d)

To recommend annual goals, objectives and policies to inform budget priorities for expenditures to be made from the permanent funds, prior to the submission of such priorities by the executive director of the office of economic development to the mayor and the city council as part of the city's annual budget process.

(e)

To recommend to the executive director on an ongoing basis:

(1)

Concepts for new programs and services to achieve the purposes of the permanent funds;

(2)

Metrics to be tracked in order to monitor the success of the expenditures from funds in achieving their intended purposes;

(3)

Community engagement strategies, including no less than one (1) public hearing annually;

(4)

Housing priorities, including geographic priorities for creating or preserving affordable housing within the city;

(5)

Methods to leverage and maximize expenditures from the permanent funds;

(6)

Specific provisions for expenditures designed to mitigate the effects of gentrification and displacement of lower income households in neighborhoods with the most rapidly escalating housing costs.

(Ord. No. 625-16, § 1, 9-19-16; Ord. No. 891-17, § 1, 8-28-17)