IHDA-HOUSING PLANNING

From the Legislature

Reinserts the provisions of the introduced bill with the following changes: Adds a definition for "area median household income". Expands the purpose of the Act to include: (i) creating housing to avoid displacement of existing residents in areas with rapidly escalating housing costs; (ii) promoting housing investment in communities with vacant and abandoned properties; and (iii) supporting innovative models of homeownership, including, but not limited to, community land trusts and other shared equity models. Makes various formatting and technical changes.