New strategies to increase affordable housing
By ALYSSA MUNOZ
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ALBUQUERQUE, New Mexico (KOAT) — Affordable housing is still a problem in Albuquerque. At a city council meeting, residents voiced their frustrations about the housing crisis.
Just last year, the city launched “Housing Forward ABQ” and set a goal of 5,000 units in five years. An ordinance passed in June allowed tiny homes, casitas, on residential property and allowed developers to convert hotels and commercial buildings to add to the housing.
The city said they have produced about 200 to 250 units a year for the last five years.
Now, the city has outlined new strategies to increase affordable housing. They plan to enact new programs, like an assistance program, to create a motel conversion. To add to that, a loan fund for affordable casitas.
The executive director for the Albuquerque Housing Authority said money is an issue when it comes to affordable housing.
“It’s the amount of federal funding we get as a state. It’s not enough to go around for the needs in the state,” said Linda Bridge.
However, she said other things could also help the problem.
“There is no silver bullet approach. There needs to be a multi-pronged approach and not one of those things would be the solution,” Bridge said. ” Any combination that adds more units brings more rental units into the market, helps give some relief.”
Another part of the city’s plan is to find a source for permanent funding that would allow them to get $20 million a year. That money would support these programs, administrative costs and speed up development planning.
Albuquerque Housing Forward said it also runs eleven programs to help people avoid eviction and provide mortgage assistance.
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