United States Representative Adam Schiff (D-Calif.) is taking another shot at solving America’s housing crisis, this time through a proposal to convert government-owned buildings into affordable rental housing.
The Affordable Housing Conversion Act would allocate $1.25 billion over five years toward identifying and converting unused and underutilized government buildings into rental units geared toward households whose income is 50 to 80 below the area median income outlined by the Department of Housing and Urban Development (HUD).
Source: Inman News
California legislator proposes $1.25B affordable housing bill
Published in Adam Schiff, affordable housing, california, Government Facilities to Affordable Housing Conversion Act, homebuyers, housing crisis, Markets & Economy, national association of realtors, renters, residential conversion and Select
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