The City of Concord is planning to aggressively improve affordable housing by partnering on new projects and contributing subsidies to refurbish existing properties according to The East bay Times.
Over the next five years, Concord will increase its affordable housing fund from $9 million to $14 million in an effort to improve affordable housing from teachers, seniors and veterans. Developers have until March 1 to submit proposals to the city with a final decision due in April.
Moreover, the city will contribute between $75,000 to $100,000 per unit to refurbish between 140 to 160 units.
Leave a Reply