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As the cost of building new housing rises, mechanisms that support the purchase of existing housing by local governments and housing authorities can help mitigate the housing crisis and create affordable housing faster than new construction.
City Council voted to pass the People's Preservation Package, two bills designed to maintain affordable housing in Philadelphia. If signed by Mayor Jim Kenney, the bills would require affordable housing property owners to notify more parties of their intent to end contracts. It would also allow tenant organizations, the city and other affordable housing providers to make an offer on properties before public listing to keep the site low-cost.
The legislation places new requirements on property owners who operate federally-backed affordable housing units.
City Council Hears Testimony on Affordable Housing Bills- On Monday, City Council’s Committee on Housing, Neighborhood Development & The Homeless held a public hearing about two...