Resolution approving 2026 Public Housing Operating Budget.

Adoption of the attached resolution.

In compliance with 24 CFR 990.315, the Mankato EDA is required to prepare an annual operating budget and obtain review and approval by the Economic Development Authority, which holds the powers of a housing authority under Minnesota Statutes. The proposed 2026 operating budget is identical to the budget adopted by the City Council on December 1, 2025. Upon approval, the budget and accompanying resolution will be submitted to HUD with the annual operating subsidy request.

Program Budgets

• Emergency Housing Vouchers (EHV)
  The EHV program has a 2026 budget of $65,808, supporting housing assistance payments for six households. The program is expected to conclude mid-year 2026, with participating families transitioning to standard Housing Choice Vouchers.
• Housing Choice Voucher (HCV) Program
  The HCV program has an annual budget of $6,739,803, serving approximately 754 households following full conversion of Public Housing units. This includes $6,094,619 in housing assistance payments and $551,168 in administrative fees.
• Public Housing Program
  The Public Housing program has an annual budget of $1,272,711, serving 179 households, with $724,741 allocated for operating costs and $542,670 for administrative staffing.
  A separate conversion budget of $2,600,400 has also been prepared in anticipation of full unit conversion in 2026.

Action Requested

The Board is requested to approve, by resolution, the 2026 operating budgets for the Public Housing and Housing Choice Voucher programs as presented.