City of Grand Rapids Committee of the Whole Agenda Packet 2026-06-16
City Sends $9.6M to Affordable Housing Fund
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Description
The City authorized a $9,595,000 payment to the Grand Rapids Community Foundation for deposit into the City of Grand Rapids Affordable Housing Fund. This transfer follows the sale of 201 Market Avenue and utilizes the foundation’s existing fiduciary role for the fund.
Contract Details
Contract Amount
$9,595,000
Vendor
GRAND RAPIDS COMMUNITY FOUNDATION
Agency
City of Grand Rapids, MI
Contract Type
FINANCIAL_SERVICES
Document Date
June 16, 2026
Renewal Info
References a previously approved and amended agreement with the foundation for fiduciary services for the Affordable Housing Fund; this action provides additional funding under that arrangement.
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