The $1.5 million plan would start a pilot program, providing reimbursement grants to developers who incorporate affordable housing units.
Charlotte is proposing a pilot program to support the production of affordable housing developments throughout the city, encouraging developers to be more inclusive in their projects.
Leaders will decide whether to approve a pilot program that could incentivize developers to include affordable units when building market-rate housing. The $1.5 million plan would provide reimbursement grants to developers who incorporate affordable housing units.
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Some of the qualifications for the pilot program include requiring 20% of the housing units in the development to be affordable to households who make well below the median income.
“The more we can keep people in affordable units, the less we have to build,” Mayor Vi Lyles said.