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Affordable Housing Development

Home Affordable Housing Development

Policy Statement : The federal government will allocate funding and provide tax incentives to developers building affordable housing units.

Municipalities must prioritize affordable housing projects in their planning and zoning decisions. Non-compliance will lead to forfeiture of incentives and restrictions on future development projects. Developers must allocate at least 20% of units as affordable to qualify for funding.

  1. PurposeTo increase the availability of affordable housing and reduce homelessness by incentivizing developers to construct budget-friendly homes.
  2. ScopeApplies to housing developers, municipal governments, and non-profit housing organizations.
  3. Definitions
      Affordable Housing: Housing units priced or rented below the market rate to serve low- and middle-income families.
    1. Incentives: Financial subsidies or tax breaks provided to encourage affordable housing projects.