COLUMBIA, Mo (KMIZ)
The Columbia Housing Authority, responsible for managing 749 affordable housing units and overseeing various office and community spaces, is asking for coronavirus stimulus money to help expand its affordable housing stock.
The Housing Authority of Columbia is seeking financial support from Boone County COVID-19 American Rescue Plan Act funding, requesting $2.5 million for the Providence Walkway project. CHA says the award is justified because of the major need for housing in Columbia.
The money would help pay for 37 new housing units and rehabilitation of 16 units.
The organization has had an annual budget exceeding $16 million for the past three years, with a significant portion, over 75%, from grants provided by the U.S. Department of Housing and Urban Development (HUD) for affordable housing initiatives, according to the CHA application.
The funding request is the last hurdle in securing $7.4 million in non-competitive 4% Low-Income Housing Tax Credits from the Missouri Housing Development Commission.
Renters in CHA’s affordable housing properties pay 30% of their adjusted household income for rent, according to the Housing Authority website. CHA houses more than 2,000 families, the authority website says.