Tempe City Council & TCAH Board Joint Meeting - April 1, 2026
Tempe City Council and Tempe Coalition for Affordable Housing (TCAH) Board Joint Meeting – April 1, 2026
The meeting was a joint session of the Tempe City Council and the Tempe Coalition for Affordable Housing (TCAH) Board. Present were Mayor Corey Woods, Vice Mayor Doreen Garland, Councilmembers Arlene Chin, Jennifer Adams, Birdada Hodge, Nikki Amber, and Randy Keating (virtual), along with TCAH Board members including President Irma Hollamy B. Kane, Danielle Amorosa (MEB Affordable Management), Dan Colton, and city staff. The meeting focused on TCAH's progress, financial performance, and portfolio management.
TCAH Updates
- TCAH Board President Irma Hollamy B. Kane presented an overview of the organization. TCAH is an extension of the Tempe Housing Authority, structured to operate like a private developer to acquire property, secure loans, and access 501(c)(3) funding. Its mission is to provide permanently affordable housing in Tempe.
- Key accomplishments included: partnering on the Law Victoria Commons development (100+ affordable units with health clinic and social services), which represents TCAH's first soft loan/gap financing award; three vacant lots to be developed into 40–60 affordable homeownership units; three single-family homes transferred from the city's CDBG program in 2025, renovated and rented; and organizational milestones including a November 2025 brand launch and a $50,000 grant from Arizona Community Foundation and LISC Phoenix for the 'Hometown for All' fund program.
- TCAH's portfolio is valued at $17.9 million, consisting of 73 permanently affordable units (scattered site). Vice Mayor Garland expressed strong support for the growth from ~50 units four years ago to 73, praising the trajectory.
Financial Performance Update
- Treasurer Teresa presented the year-end financials for 2025. The statement of financial position showed cash and savings of ~$2.8 million, investments of ~$3.0 million (from a new investment policy), total assets ~$25 million, and minimal liabilities under $100,000. Net equity was $25 million.
- The statement of activities showed rental revenue (with discounts for affordability and vacancies), contributions from 'Hometown for All,' and expenses. Net investment income was $170,000 under the new policy. Net income for 2025 was just under $2.5 million.
- Councilmember Arlene Chin asked clarifying questions about negative variances on the asset overview. Danielle Amorosa explained that market rents had decreased, so the budget was adjusted downward; the negative variance would be corrected. Councilmember Birdada Hodge sought confirmation that the adjustment applied to both monthly and annual budgets, which Danielle confirmed.
Portfolio Performance Update
- Danielle Amorosa (MEB Affordable Management) reported that the portfolio grew from 52 to 73 units since May 2023, with three units fully renovated and three in renovation. Occupancy was 81.94% (59 of 73 occupied), 10 vacant rentable units, and four pending applications. Marketing efforts include Craigslist, MyHousingSearch, affordablehousing.com, and AI-powered 24/7 leasing via Leah AI at $1.20/unit.
- Annual turnover was 22 move-outs (30%), with reasons including evictions, out-of-state moves, job loss, and personal reasons. Average resident stay was 2.5 years; longest was six years. Average unit turnaround time was 7 days; application approval took ~48 hours.
- For February 2026, rental income was $66,521, other income $2,970, operating expenses $44,270, net operating income $25,221. Occupancy was 80.55% (61 occupied, 11 vacant, 6 ready). Resident delinquency was $6,403. No payables were open.
- Councilmember Nikki Amber asked about barriers to filling vacancies. Danielle cited background checks (criminal and credit history) and the requirement that rent be 30% of income. Councilmember Birdada Hodge asked if vouchers are accepted; Danielle confirmed a good portion of residents use housing vouchers, making TCAH another option for them.
Key Outcomes
- The TCAH Board voted to accept the year-end financials for 2025. The motion was made, seconded, and carried unanimously with no opposition. (Only TCAH Board members voted; Council did not participate in the vote.)
- No further actions or votes were taken. The meeting adjourned at 4:23 p.m.
Meeting Transcript
Who is so strange when I bang the gavel here as opposed to the council chambers? But either way. It all means the same thing. Good afternoon, everyone. Welcome to the Tempe City Council and Tempe Coalition for Affordable Housing Board joint meeting agenda. Council meetings can be watched in real time via Cox Champ Cable Channel 11 and at Tempe.gov slash Tempe11. Members of the public may also attend the meeting virtually through Microsoft Teams. Item number one is called order. It looks like we've got quorum from looking around the table here, so I'll go ahead and move forward then. Let's go to item number two, which is welcome and introductions. I guess let's start Danielle with you, and we're gonna go around the table. Here's if we can all just turn our microphones on and do a little introduction for the folks watching at home or who might watch the recording later. Danielle Amorosa with MEB Affordable Management Dan Colton, I'm with Colton Commercial. I'm a board member. Irma Holland B. Kane, Board President. Corey Woods, Mayor. Doreen Garland, Vice Mayor. Arlene Chin, Council Member. Jennifer Adams, Councilmember. Birdada Hodge, Council Member. Nikki Amber, Councilmember. Good afternoon, Rosen Chelsea, City Manager. Good afternoon, Eric Anderson, City Attorney. Carrot Drostias, City Clerk. Thank you. We just want to also note that Councilmember Randy Keating is virtual, so he is taking uh active part in this meeting. Wanted to make sure to put that out there. Which brings me to item number three, Tempe Coalition. Oh, okay. That was like what did that voice? I thought it was actually Eric, I thought it was you for a second. That's why that's why I looked at you. Exactly. The voice of God. All right. Trying again here. Item number three, Tempe Coalition for Affordable Housing Presentation and Actions. Item 3A, TCAH updates, and I'm going to turn it over to our board president, Irma Hollamy Kane. Thank you, Mayor Woods. So the Tempe Coalition for Affordable Housing, also referred to affectionately by city employees as the affiliate, is an extension of the Tempe Housing Authority, and it's formed to meet certain HUD requirements that allow us to pursue objectives that are outside of traditional limitations. So for example, our structure allows us flexibility to operate similarly as a private developer. We can acquire real property, secure loans, apply for and qualify for 501c3 funding opportunities that generally speaking, housing authorities and general governments are not eligible for. And our rents are based on household income. So if I could, next slide, please. Our work at the Tempe Coalition is purpose-driven, and we seek to maximize our impact and contribute to building a strong community with diverse housing options. So we envision a place where every person has a safe and secure place to call home, allowing them to thrive in their life and their community. And simply put, our mission is to provide permanently affordable housing options in the city of Tempe. Next slide, please. On the screen are our core services and goals, and these are a mixture of who we are now and who we endeavor to become.
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