(Disclosure: Rose Law Group represents Michael Pollack.)
By Rose Law Group Reporter
Tempe, AZ – Tempe is dedicating 15 apartments and single-family homes for permanently affordable rental housing, bolstering the city’s goal to increase affordable and workforce housing through the Hometown for All initiative.
This action brings the total number of permanently affordable units in Tempe to 100. That total continues to grow, ensuring that more affordable units are preserved and available for individuals and families in Tempe.
“I’m so proud of what we’ve been able to accomplish so far through the Hometown for All initiative,” said Mayor Corey Woods. “Whether purchasing an apartment complex, buying land to create new homeownership options or partnering with a developer to bring more affordable and workforce housing to Tempe, these actions mean more individuals and families who want to call Tempe home have that opportunity.”
The 100 affordable and workforce units are located citywide and are all currently leased. The units are operated by the Tempe Coalition for Affordable Housing, a nonprofit corporation affiliated with the City of Tempe Public Housing Authority. The nonprofit is informally called The Affiliate.
Action taken at last week’s regular City Council meeting conveys 13 apartments and homes owned by the city to The Affiliate. An additional two units will be conveyed later this year. These 15 units not only expand the number of permanently affordable rental units but also the types of housing, with everything from a small apartment to a large five-bedroom home.
The Tempe City Council approved the Hometown for All initiative in January. The initiative provides a dedicated funding stream to accelerate the growth of affordable and workforce housing options in the city and reflects the desire by Woods and the full City Council to ensure that Tempe has a variety of housing types.
For every development project built in Tempe, an amount equivalent to 50% of certain permitting fees paid to the city’s general fund goes to support The Affiliate. More than $6 million in funds has come through the Hometown for All initiative since it was approved. That total includes cash received, projected permitting fees, and pledges of voluntary contributions.
Funds are used to buy and rehabilitate properties, develop city-owned land, and buy land and partner with developers or nonprofits to build affordable or workforce units.
Through Hometown for All, the city also offers updated guidance for voluntary contributions from developers and others to fund affordable housing through The Affiliate. Suggested donation amounts are based on the expected amount of certain developer-paid permitting fees – 20% for residential and 10% for commercial/office projects.
Learn more about Hometown for All: tempe.gov/HometownforAll.
