Potential Changes to Homelessness Funding
Updated: 10/2/2023
At the Budget, Finance, and Economic Development Committee meeting on Tuesday, September 26th, Councilmembers passed the revised ordinance changing funding for the Innovative and Sustainable Solution to Homelessness Fund.
The proposed changes will designate funding of at least point-three percent (.3%) of the General Fund revenue collected from the previous full fiscal year. This also assures that the funding to address homelessness in Lexington increases as the LFUCG budget increases.
If this ordinance had been in effect for the current fiscal year, just under $1.5 Million would have been allocated to the Homelessness Fund.
The Committee approved the ordinance change with a 9-1 vote and will report it out to the full Council in October. You can read the revised ordinance here.
In the Budget, Finance, and Economic Development Committee Meeting on September 26th, Councilmembers will vote on whether or not to change the funding amount for Homelessness Prevention and Intervention.
Lexington’s Homelessness Fund was established in 2014, and the current ordinance calls for $750,000 to be allocated to the fund each year. If adopted, the new ordinance will designate funding of at least point three percent (.3%) of the General Fund revenue collected from the previous full fiscal year. You can read the revised ordinance here.
If this ordinance had been in effect for the current fiscal year, just under $1.5 Million would have been allocated to the Homelessness Fund.
WLEX recently published a story that the city was reconsidering its approach to Homelessness funding after a fundraising campaign to raise funds privately significantly missed its goal.
The Budget, Finance, and Economic Development Committee will meet on Tuesday, September 26, 2023, at 1pm in Council Chambers. You can attend in person or watch live on LexTV.
