Cohousing-L Mailing List: Low Income Housing

[Rod Lambert (rod]

*<Date: Fri, 25 Sep 2015 11:21:55 -0400 >From: Sharon Villines
<sharon [at] sharonvillines.com <sharon [at] sharonvillines.com>> >To: 
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<cohousing-l [at] cohousing.org <cohousing-l [at] cohousing.org>> >Subject: 
[C-L]_
Low Income Housing >Message-ID:
<2DE94BF7-AD2A-45B3-ACE2-F045EE4F03D3 [at] sharonvillines.com
<2DE94BF7-AD2A-45B3-ACE2-F045EE4F03D3 [at] sharonvillines.com>> >Content-Type:
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* >Reminder about affordable vs low income. They are different things. 80%
of market >rate is still out of the range of millions of people who need
housing.*
If this is in reference to my email, actually I was suggesting 80% of *median
income* not 80% of market rate - a very different approach. If a group is
interested in keeping a certain number of units affordable in the long term
they initially subsidize the units to achieve that price to the initial
buyer. After that the unit must always be sold at 80% of local median
income affordability. (Median income statistics are kept by local
government authorities.) This allows the buyer to participate in equity but
at a reduced rate compared to market rate buyers. I suppose a buyer who's
circumstances improve might be interested selling it to someone more
"deserving" perhaps, in order to participate in equity at the market rate.
Other incentives might be devised. A percentage other than 80% obviously
could also be chosen depending on resources and motivation.

Rod Lambert
EcoVillage at Ithaca, NY