I plan to soon introduce legislation that would create the Housing In Our Sites Program to provide grants and loans for the acquisition and development of key sites or buildings to be used for higher density housing outcomes, including townhomes, condominiums, or apartments. This program is based on the highly successful Business In Our Sites Program administered by DCED. Important aspects of the Housing In Our Sites Program are: - Eligible grant recipients will include certified economic development organizations, industrial development authorities, municipalities, redevelopment authorities, or municipal land banks, for the purposes of environmental remediation utility or access improvements.
- Eligible loan recipients will include private developers or certified economic development organizations who would serve as the owner/developer of the project.
- Mixed-use projects will be permitted if the project results in at least 75% housing use based on either a square foot or acreage calculation.
- Projects must be located within a municipality with a population of less than 200,000 and does not border another municipality with population greater than 200,000.
Housing development is a workforce and economic development issue. While larger cities might have affordability challenges, smaller towns and rural communities have a basic availability conundrum overall. Incentivizing new and modern housing development in these locations is critical for both businesses to attract the talent they need and the communities to attract the next generation tax base. Please join me in supporting this important piece of legislation. |