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affordable housing
(redirected from Housing subsidies)

   Also found in: Wikipedia 0.01 sec.
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.



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Over 345 million som will be required as housing subsidies for heating and hot water.
55 million in housing subsidies as well as $576,000 in federal credits and $2.
During a three-year period, approximately $70 million of the $130 million NYC HTF total will be used to subsidize projects that target hard-to-reach households, those whose earnings are either below or above the incomes usually targeted by federal affordable housing subsidies.
 
 
 
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