Bond package would pay for new affordable housing
Voters will be asked to support a $1.5 billion bond package in November to fund new affordable housing projects and other public services.
Why it matters: The city's population is expected to keep growing long term, but the housing supply is not keeping up with demand.
State of play: Mayor Andrew Ginther outlined a broad citywide housing strategy yesterday meant primarily to help those making less than $50,000 per year.
- The plan's targets: Double the units built in the next 15 years, support existing homeowners and keep housing costs below 30% of a family's income.
The big picture: The overall bond package breakdown includes:
- Health, safety and infrastructure: $300 million
- Recreation and parks: $200 million
- Housing: $200 million
- Public service: $250 million
- Public utilities: $550 million
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