Thursday, December 26, 2013

There are things we could do about the affordable housing supply problem

Converting what's left of that supply over to "market rate" housing doesn't seem like the way to go.
The housing agency doesn't have the financial resources to rebuild these properties and effectively manage them so it's better to put them up for sale in hopes people in the private sector or nonprofits can put them back to use, said Administrative Receiver David Gilmore at a September meeting.

In its first sale, HANO put up 107 properties and received bids on 86, 38 of which will be redeveloped into affordable housing and 48 into market rate developments.

Affordable housing is defined as housing that is affordable to households making 80 percent or less than the area median income or $44,000 in New Orleans.
The city will count this as a great victory in the "War On Blight" Sometimes it's easy to confuse whether they mean blighted buildings or just people they don't like. 

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