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Mr. Heckelmoser noted that dozens of units in his buildings have been rehabbed for ADA <br /> compliance, which is required since his property receives federal funds. <br /> The committee established that a private landlord not receiving any federal assistance would not <br /> be required to pay for ADA modifications. Furthermore, the landlord would have to agree to any <br /> such modifications. <br /> Councilmember Rader referenced a previous legislative attempt to implement source of income <br /> protection for renters. He asked the participants if this policy would make a positive impact on <br /> affordability, given the other realities. <br /> Ms. Keniray replied that such a policy would be very helpful as many residents become <br /> displaced during a change of ownership when the new landlord refuses to accept vouchers. She <br /> noted that the CMHA voucher program has changed and improved over the years and is intended <br /> to stabilize families and unlock opportunities. <br /> Councilmember Rader encouraged Councilmembers to keep an open mind regarding the source <br /> of income protection legislation. He questioned what more can be done to help displaced <br /> residents forced out by a change in ownership. <br /> Chairman Bullock suggested that the free market control a lot of this in the interest of <br /> maximizing profit and that the city needs to connect with community partners with non-profit <br /> missions. He questioned how the city can better track market rents, noting that many small, <br /> private landlords provide affordable rents. <br /> Mr. Castelletti suggested city-sponsored housing subsidies, incentivizing, and engaging with <br /> non-profit partners to build affordable housing within Lakewood. <br /> Director Leininger pointed out that many private property transfers in the city are arranged <br /> privately between parties and the city is not at the table or aware until after they are finalized. He <br /> envisioned how the city and its partners could play a positive role if it were aware of these <br /> exchanges. <br /> Councilmember Bullock cited examples of when the city successfully engaged in the private <br /> market in the interest of historic preservation. <br /> Councilmember Baker suggested a possible consultant to help analyze housing market data to <br /> focus efforts. <br /> Mr. Hecklemoser spoke about future directions of LSC Corp. and potential partnerships. <br /> Ms. Wellborn advocated for additional diversity, equity, and inclusion work to prevent against <br /> housing discrimination. <br /> Finance Committee adjourned at 8:27 p.m. <br /> 3 <br />