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| Forum name | General Discussion |
| Topic subject | You're not reading what I wrote fam... Many/most of the high end |
| Topic URL | http://board.okayplayer.com/okp.php?az=show_topic&forum=4&topic_id=13312589&mesg_id=13314789 |
13314789, You're not reading what I wrote fam... Many/most of the high end
Posted by FLUIDJ, Wed Feb-20-19 05:03 PM
>and took a unit from someone who truly needs it?
>
>Imagine how that story would play out.
Condo and rental developments include a small percentage of affordable units within them. So say you have a 200 unit building with above market rate (aka EXPENSIVE) rental or sale units ($800K+ condos)...of those 200 units 5% are sold or rented at below market rate and capped at a certain dollar amount offered to qualified applicants/buyers only (aka income verified to be lower than regional average).
The goal is to limit displacement of long time neighborhood residents by providing a means for them to remain once the place is redeveloped and to ensure that a place doesn't end up being 100% rich folk....
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