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She noted that San Mateo County recently passed a housing bond (Measure K) to support subsidized, affordable housing, and nonprofit housing organizations such as MidPen Housing are exploring preservation strategies for permanently affordable housing in the county.
The city would charge new residential developments of more than five units $12 a square foot, and new commercial developments $5 a square foot, to finance subsidized affordable housing.
The residential units were not envisioned as subsidized "affordable housing" but were to be offered at market prices.
According to an analysis by his firm, the new tax law will reduce the growth of subsidized affordable housing by 235,000 units over the next decade, compounding an existing shortage.
That is also the recommendation of a recent report by the Community Service Society, which warned that the number of units of subsidized affordable housing in the city had shrunk by 7 percent over the last two decades and that "chronic underfunding" now threatened the survival of public housing.
At the same time, the Reagan administration cut commitments to public and subsidized affordable housing from the peak of the 1970s.
Similar(48)
Officially characterized as a grant, the money subsidized affordable-housing units at the Emerson, a high-rise residential tower Related built next to the museum.
In turn, no taxpayer dollars are needed to subsidize affordable housing.
Under the 2000 General Use Permit, Stanford has paid $26 million into a fund to subsidize affordable housing in nearby communities.
A new scheme in Scotland will see wind turbines generate power for a rural community, while profits from excess energy subsidize affordable housing.
And the ferry subsidy is a pittance compared with the tens of millions of dollars that the city has extended to the area to subsidize affordable housing (not to mention $1.25 million for the South Williamsburg ferry landing).
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