housing finance

Definition

Allow for reductions or waivers of typical public works requirements (such as widening roads, improving sidewalks, expanding sewer capacity, or creating recreational facilities) for development of affordable housing

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Definition

Reducing or waiving impact fees for affordable housing projects. Impact fees are important for municipalities because they require developers to pay their fair share of the costs of providing public services to the new development. However, impact fees can be an additional barrier to developing affordable housing projects.

Definition

Allowing permit fee reductions, waivers, or deferments for affordable housing projects.

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