A portion of the redevelopment funds must be spent on affordable housing – does this mean that massive public housing will be built in local neighborhoods?
Redevelopment agencies are not public housing authorities. The redevelopment agency cannot own and operate a “housing project”. Rather, redevelopment agencies work with private property owners, housing developers (both for-profit and not-for-profit) and financial institutions in a wide variety of programs to assist in making a certain number of homes affordable for families with modest incomes. In West Sacramento, this function is now handled by the Grants and Community Investment Department. State-wide, redevelopment agencies use many different approaches to facilitating the development of affordable housing. One agency may assist those who have never owned a home buy one by providing a low interest rate loan. Another agency will work with a developer to buy and renovate an apartment building that has been poorly managed. Through physical improvements and good management a neighborhood eyesore becomes an attractive asset. In return, the new owner will set aside an agreed upon number o
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- A portion of the redevelopment funds must be spent on affordable housing - does this mean that massive public housing will be built in local neighborhoods?
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