What requirements are obligatory for affordable housing?
Affordable housing financed with Federal Tax Credits and/or Agency low and moderate funds must strictly serve low- and moderate-income persons. Affordable rental units must be affordable for at least 55 years and affordable homeownership units must be affordable for a minimum of 45 years. To be competitive for Federal Tax Credits, affordable housing should also be located within the Redevelopment Project Area, proximate to community services, shops and transportation.
