POR 2023 #47 · Agenda item attachment · Mar 6 2023

O-6 FIRST IN COUNCIL March 6, 2023 City of Cambridge MAYOR SIDDIQUI VICE MAYOR MALLON COUNCILLOR MCGOVERN COUNCILLOR SIMMONS WHEREAS: The City of Boston Voucher Program (“CBVP”) was established with a $2.5m appropriation from the city’s general fund, which was increased to $5m in the FY22 budget and is administered by the Boston Housing Authority (BHA); and WHEREAS: CBVP focuses on Project Based Vouchers tied to a particular site or development and aims to leverage city resources by deepening the affordability of both existing and in-development income-restricted housing; and WHEREAS: The City of Somerville is also starting a new fully municipally funded voucher program with a priority for Somerville families who have kids in the public schools and who are ineligible for federal housing resources; and WHEREAS: Funding for Somerville’s program will come from ARPA dollars to begin with, and likely pivot to funds from the Somerville Affordable Housing Trust when necessary; and WHEREAS: The Cambridge City Council has passed multiple policy orders regarding the use of city financed vouchers, including PO #581 in 2015 and PO #78 in 2016; and WHEREAS: As outlined in the Envision Cambridge report, “both home values and rents nearly doubled between 2000 and 2015,” requiring a household income of $100,000 to rent a 1 bedroom apartment, although the median household income in Cambridge is $75,000, and prices have only risen since the time the report was published; and WHEREAS: The City of Cambridge should explore the feasibility of this municipal resource and pros and cons of adopting a similar program to Boston; now therefore be it ORDERED: That the City Manager be and hereby is requested to confer with the City Manager’s Housing Liaison, Community Development Department, and the Cambridge Housing Authority on the feasibility of municipally-funded housing vouchers and report back to the City Council in a timely manner.