Tangible Progress on Resident Housing
Tahoe Chamber | September 19, 2018 | Chamber News • Community News
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By Steve Teshara, Tahoe Chamber CEO
The South Lake Tahoe City Council took a major step forward Tuesday, unanimously allocating funds to support a city-wide housing program based on identified resident and workforce needs. Tahoe Chamber played a lead role in advocating for this investment.
Money approved will be used to quantify the need for housing that meets the needs of those who work in our community and want to live here. Tahoe Chamber recognizes that an investment in housing is an investment in our community and local businesses.
Development Services Director Kevin Fabino described this initiative as a two-step process. Step one will allow the City to determine the income group(s) that are in most need of housing and the mix of units that best meet their needs. In step two, the City will retain consulting assistance to effectively use “program income” to support a new HOME program. Previously, the City received state grant funds for the purpose of providing first time home buyer loans to qualified individuals and families. As those loans are paid off, the City generates program income that can be used as a source of revenue to support other needed housing initiatives.
As the Council considered adoption of the City’s 2018-2019 budget, Tahoe Chamber asked members to answer the clarion call for leadership to address our community’s housing crisis. We commend the Council for answering the call.
We know that ensuring achievable housing is a challenge that takes broad public-private collaboration. Tahoe Chamber is an active member of the Housing Tahoe Partnership, an initiative of the Tahoe Prosperity Center. We will continue to support additional funding and housing initiatives throughout the South Shore that support the sustainability of our businesses and community.
For more information on Tahoe Chamber’s commitment to quality of life, business and community sustainability, please visit tahoechamber.org.