#147 Fall 2006

Preservation in Mind

As more property owners seek to get rid of their federally assisted housing, advocates hope they’ll sell to someone interested in preserving affordability. U.S. Senator Charles Schumer (D-NY) filed a […]

As more property owners seek to get rid of their federally assisted housing, advocates hope they’ll sell to someone interested in preserving affordability. U.S. Senator Charles Schumer (D-NY) filed a bill in June that gives owners relief from “exit taxes” if they sell to buyers committed to extending affordability for 30 years. If owners have to pay the taxes, they are more likely to make deals with for-profit developers who can afford a higher sale price. The Millennial Housing Commission identified exit tax relief as key to affordable housing preservation in its 2002 report. (www.nhtinc.org)

OTHER ARTICLES IN THIS ISSUE

  • Season of Change

    September 23, 2006

    At the apex of the civil rights and social justice movements, a new type of organization, the community development corporation (CDC), was created. CDCs were charged with addressing the massive […]

  • Schools House Homeless Kids

    September 23, 2006

    A school district outside St. Louis is opening a home this fall for homeless students. The Maplewood-Richmond Heights district bought a house and had lined up a dozen teenagers to […]

  • Brokering Network

    September 23, 2006

    Several CDCs in the Memphis area have partnered with Seedco, the national economic development intermediary, to form a mortgage loan network. Members can either create their own mortgage brokerages or […]