Increase the Affordable Housing Corporation (AHC) budget by $13 million bringing it to a total of $39 million. Section 1. Increases subsidy availability for projects in high cost markets from $40,000 per dwelling unit to up to $75,000/du. Section 2. Requires resale restrictions for no less than 60 years and no more than 99 years for projects seeking more than $40,000/du through deed restrictions, community land trusts, or limited-equity cooperative ownership structures.
Tags: state initiative