WSAR NEWS

Does Fall River need a trust fund to pay for affordable housing?

Adding to the city’s affordable housing stock is paramount to housing Fall River’s residents, but with 27% of citywide housing deemed “affordable,” what more can be done to increase housing options for mid- to lower-income residents while maintaining a balanced housing market?

 

On Jan. 14, the Committee on Ordinances and Legislation debated the function of, and the need for, an Affordable Housing Trust Fund that would contain additional revenue to be used in developing and preserving affordable housing — with a new minimum five-member board of trustees reporting to the mayor and the City Council.

 

The City Council debated the matter and referred an ordinance to the Committee on Finance, of which City Councilor Cliff Ponte is a member.

 

Read more at heraldnews.com.

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