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traditional bank loans which will ultimately improve their credit
<br /> scores and bankability.
<br /> Additional Helpful Websites
<br /> Affordable Housing Strategies (from the site below)
<br /> hilt s:HQsa Uararuura .com/innovative affordable hou�sin si�ra1 ies..un..hu h cosi markets/
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<br /> Inclusionary Housing
<br /> !gip.§.,��unclu sion, hou�sun .or �desu nuru a- oluc �af�ordabuUui� reservation/
<br /> Local inclusionary housing policies tie the creation of affordable homes for low- and
<br /> moderate-income households to the construction of market-rate housing or commercial
<br /> development.
<br /> The vast majority of programs have affordability requirements that last for 30 years or longer;
<br /> only 7% require units to remain affordable for less than 30 years. Many programs have
<br /> functionally permanent affordability; units must remain affordable in perpetuity, for 99 years, for
<br /> the life of the building.
<br /> Link has examples of what several cities and counties have done
<br /> Stamford adopted its program in 2003 when the city had just prepared an analysis projecting a shortage
<br /> of 3,000 affordable housing units in the city. It was determined that, as a relatively small city, Stamford
<br /> would need every single affordable unit to last.As the city's program director said "If we allowed these
<br /> units to expire after 30 years, which was the conventional HUD affordability term, we'd start losing units
<br /> as fast as we produced them, and it would be a futile program.”
<br /> https:Hhdfconnects.org/about/
<br /> ai1l tVie„
<br /> Cambridge administrators were motivated by their recent experience with the expiration of the city's
<br /> federally-subsidized affordable housing units at a time when affordability needs were growing. Officials in
<br /> Cambridge also reasoned that the affordability term should be permanent since the bonus density
<br /> provided to the landowner as part of the inclusionary housing agreement would also be permanent.
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