Local News

 

Mayor de Blasio Releases $41 Billion Affordable Housing Plan

Mayor de Blasio Releases $41 Billion Affordable Housing Plan

Mayor Bill de Blasio revealed the largest, most ambitious affordable housing plan in United States history earlier today, designating a total of $41 billion to create 80,000 new units and 120,000 preserved units that will be considered "affordable housing," reports The Gothamist.

 

The plan claims to:

"To promote long-term community revitalization and economic diversity, we will pilot a new mixed income program that targets 20 percent of a project’s units to low-income households, 30 percent for moderate income households, and 50 percent for middle-income households," the plan states. "Producing middle-income housing can also be a finance tool to cross-subsidize more deeply affordable units."

 

READ MORE

Source: The Gothamist

Photo Credit: Getty Images

 

 

More Articles

 

WOR 710 is an iHeartRadio Station

© 2014 iHeartMedia, Inc.

*