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Int 0958-2024
| * | Adrienne E. Adams | | | Creation of affordable homeownership opportunities. | Introduction | This bill would require, beginning in fiscal year 2026 and in each fiscal year thereafter, the department of housing preservation and development to enter into agreements to create a number of homeownership opportunity units that equals or exceeds 6 percent of all affordable units for which the city agrees to provide financial assistance. Such homeownership opportunity units would be affordable to households earning no less than 70 percent and no more than 165 percent of area median income. Compliance with the 6 percent requirement is measured by averaging the percentages achieved across 5 consecutive fiscal years, except that the minimum percentage achieved each fiscal year must equal or exceed 2 percent. | | |
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