Subsidized Housing for Families Earning $250K Per Year

Real Estate_CA

California taxpayers will foot the bill.   

PALO ALTO (CBS SF) — Palo Alto is seeking housing solutions for residents who are not among the region’s super-rich, but who also earn more than the threshhold to qualify for affordable housing programs.

The city council has unanimously passed a housing plan that would essentially subsidize new housing for what qualifies as middle-class nowadays, families making from $150,000 to $250,000 a year.

The plan would focus on building smaller, downtown units for people who live near transit and don’t own cars, along with mixed-use retail and residential developments.

“Prices have just gone through the roof, making it unaffordable for middle-class people, your firefighters, your teachers, and, frankly, some of your doctors,” Palo Alto Vice-Mayor Greg Scharff said.

“What the council is proposing is that we work together to fund and subsidize, what is basically middle-class housing; which, traditionally, has not been subsidized.”

 







 

Comment via Facebook

 

Comment via Disqus


asc
DML Walk & Talk 12/9
screen-shot-2016-12-08-at-6-22-00-pm
Changes to Walk & Talk
LIVE-Dennis-Michael-Lynch-DML-Walk-Talk-12716
DML Walk & Talk 12/8
screen-shot-2016-12-07-at-3-46-48-pm
DML Walk & Talk 12/7

Send this to friend