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affordable housing |
Also found in: Wikipedia | 0.02 sec. |
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affordable housing Housing for people whose income is a certain percentage below the median income for an area, as determined by the U.S. Department of Housing and Urban Development (HUD). National and local governments provide incentives and cash assistance to developers to build new affordable housing or rehabilitate older apartment buildings or other projects and offer housing at rates deemed affordable for the area. Currently, HUD has three affordable housing programs.They are 1. HOME. Provides grants to state and local governments to fund their programs to meet the housing needs of low-income and very low income families. 2. SHOP. Provides funds to nonprofit organizations to acquire home sites and develop or improve the systems for delivery of sweat equity and volunteer-based homeownership programs for low-income families. 3. HOZ. Provides funds for communities to reclaim vacant and blighted areas and create home ownership zones of mixed income, pedestrian friendly neighborhoods. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| ? Mentioned in | ? References in periodicals archive | ||
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| He also stressed that the focus of
the reform is to provide affordable housing to low income families who
cannot benefit from the many newly constructed apartments in the City. BURBANK - The City Council on Tuesday is expected to consider
approving $415,000 for five new affordable housing units for low-income
residents. The London Affordable Housing Foundation will build 14 units of
affordable town houses for families in London to be built under the
Canada-Ontario Affordable Housing Program. |
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