As Mr. Craig briefly mentioned in his white paper, many communities create or support Community Housing Development Organizations, non-profits with special access to federal funds for affordable housing. CHDOs can build or sponsor all kinds of housing, but Key West would probably benefit most from new construction or rehab rental housing, which CHDOs could dramatically reduce the cost of creating. Some communities also create Low income Tax Credit (LITC) housing, in connection with for-profit developers.
There are solutions, though not immediate, that could help reduce the housing burden on our citizens.
As Mr. Craig briefly mentioned in his white paper, many communities create or support Community Housing Development Organizations, non-profits with special access to federal funds for affordable housing. CHDOs can build or sponsor all kinds of housing, but Key West would probably benefit most from new construction or rehab rental housing, which CHDOs could dramatically reduce the cost of creating. Some communities also create Low income Tax Credit (LITC) housing, in connection with for-profit developers.
There are solutions, though not immediate, that could help reduce the housing burden on our citizens.