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Kent County Housing Snags Millions In American Rescue Plan Funds
/in Western Michigan /by Tracy WillisKent County housing is in line for almost $20 million by way of American Rescue Plan funds. The Kent County Revolving Housing Fund will receive $17.3 million, and an additional $500,000 is allotted to Housing Kent for the Kent County Equitable Housing Initiative. The funds represent one of the most significant investments in affordable housing by West Michigan local government. The funds will support new and rehabilitation projects with lower interest rates, allowing the community to leverage $3.30 for every dollar invested. The Kent County Equitable Housing Initiative will help with changes to local zoning.
Petoskey Home Projects Step Toward More Affordable Housing
/in Northern Michigan /by Tracy WillisNorthern Homes Community Development Corporation began construction on two homes near downtown Petoskey. The projects received funding from Charlevoix State Bank and the Federal Home Loan Bank of Indianapolis. According to Northern Homes Executive Director Jane Mackenzie, making the homes affordable for local residents is a tricky endeavor. Households earning less than 80% of the area median income with a family of four will be able to purchase the homes. The properties are part of the Northern Homes Community Land Trust program.
Ann Arbor Attempts To Smooth Building Process For Developers
/in SE Michigan /by Tracy WillisReal Estate developers have complained for years about Ann Arbor’s many requirements and layers of review and approval for building projects. Some have stated that they’ll never do business in the city again because it’s easier and less costly to build new housing in other places. Ann Arbor officials are trying to right that wrong. The City Council voted to shorten the approval process. Projects that meet the city’s zoning requirements will not have to go through council. Instead, they’ll be reviewed and approved by city staff and the Planning Commission. City leaders are discussing more steps to smooth the process as the city tries to attract high-density development along transit corridors.