By Michelle Mitchell | The Arizona Republic
Chandler is modestly increasing its affordable housing stock to make up for a Valley non-profit’s inability to maintain its homes according to federal rules.
The city council earlier this month agreed to buy five units for up to $850,000 to replace some of the units that were lost in foreclosure when Community Services of Arizona became unable to maintain properties for which it received federal affordable housing funding.
Between 2003 and 2005, Chandler gave the non-profit about $510,000 in U.S. Department of Housing and Urban Development money to purchase and fix up seven housing units. This money came with the requirement that CSA offer the units in the two duplexes and a triplex as affordable housing for 10 years, Morrison said.
When the housing market crashed, however, Community Services of Arizona couldn’t afford to maintain all of its housing stock.
City officials will buy other properties to replace five of those lost units and repay HUD for the other two.
