Generating Affordability News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Plus, Connecticut promotes accessory dwelling units, and East Palo Alto moves to help mobile home residents buy their own lots. 

A bill, dubbed the Generating Affordability in Neighborhoods (GAIN) Act, would create a program through which landlords could apply for funding. In return, those landlords would establish affordability covenants for some of their units, setting them aside for households making less than 50% of the median family income (MFI), and keeping the rents low. The bill was introduced by DC At-Large Councilmember Robert White.

Drew Angerer/Getty Images 25 May 2021 District of Columbia Mayor Muriel Bowser invited the press, developers, and housing advocates to attend her affordable housing announcement on Monday with the Springs Flat development in Ward 4 as a backdrop. Bowser said a supplemental budget for the current fiscal year will add $150 million to the Housing Production Trust Fund, the city’s primary source for affordable housing financing. Bowser also wants $250 million more in the fund in 2022. The funding must be approved by the D.C. Council. “You know affordable housing is my baby,” Bowser said at ...

The investment could generate an additional 2,700 affordable homes, according to the mayor.