The City Council considered a new program Wednesday that would provide more than $1.5 million to help improve and build affordable housing in the next five years.
Under the proposed Affordable Housing Strategy, the city would distribute the funds to applicants seeking to either improve existing affordable housing through remodeling projects or develop new low-income housing, city planner Leslie Davis said.
In the coming weeks, the city will accept grant proposals from groups interested in building affordable units.
Council members said they would like to see the proposals before deciding how to divide the money, which comes from a portion of property tax revenue generated during the past six years in the city's redevelopment district.
The state requires cities to set aside 20% of property tax funds generated within a redevelopment district for affordable housing, Davis said.