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Affordable Housing Development Incentives

Code: TB-3000.0400

Federal, state and local programs that encourage the development of affordable housing by offering impact fee reimbursements, waivers or postponement plans; administrative construction fee exemptions; development plan fee waivers; priority processing for qualifying projects; sales tax rebates; property tax abatement; low income housing tax credits; private activity bonds to finance construction; density bonus programs that allow more housing units per acre than would otherwise be permitted; alternative design standards and other incentives. Impact fees are charges that are designed to compensate a community for the cost of extending the infrastructure to support new development, e.g., to help pay for the additional roadway capacity, water and waste water facilities, schools, parks, and fire protection facilities. Also included are programs that provide incentives that pay for the purchase, development or rehabilitation of rental housing that is targeted to older adults, people with disabilities, low income people in rural areas and other special populations.

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