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Retooling Affordable Housing Strategies Part 14 of 19 |
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on April 16, 2009 02:42 PM
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Published in : The News, Echo |
Home Improvement Incentive Program in Richardson
As a strategy to attract business and in response to neighborhood advocacy for a policy that would revitalize deteriorating housing stock, the city of Richardson recently Forex Trading Made E-z initiated the Home Improvement Incentive Program. The neighborhood services department of this inner-ring suburb of Dallas manages the program, which offers a onetime tenfold rebate on the increase in city taxes based on a homes postimprovement appraised value. For example, if a homeowner makes improvements and sees a $300 increase in the city portion of his property tax bill, the homeowner would receive a onetime $3,000 rebate check from the city.
To qualify, an improvement project must have begun after Feb. 12, 2007, cost at least $20,000 and be completed within 24 months of project approval. Property owners are required to sign a contract with the city, provide officials with a project cost estimate, consent to periodic inspections and authenticate construction costs. The county appraisal district determines the homes certified value.
Although the tax rebate program Forex Trading Explained is open to any owner of a single-family home, the hope is that the program will benefit the older sections of Richardson and curtail a trend
Last update: April 16, 2009 02:42 PM
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Retooling Affordable Housing Strategies Part 2 of 19 |
| By Webmaster,
on April 15, 2009 03:14 PM
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Views : 558 |
Favoured : 31 |
Published in : The News, Echo |
Affordable housing is housing that costs the owner or tenant no more than 30 percent of gross income, according to Trend Dynamics the Department of Housing and Urban Development (HUD). Rent or mortgage payments that exceed this percentage are considered a cost burden to the household because other basic expenses like health care, education and transportation are compromised.
In Texas, the number of families facing a cost burden is growing three times faster than the availability of decent, affordable housing, according to the Texas Low Income Housing Information Service. Rising housing costs have created a housing shortage Forex Trading Machine not only for lower-income groups, but also for middle-income professions such as teachers, nurses, firefighters, police officers and others who cant afford to live in the communities they serve. Maintaining employment does not guarantee that a family can find decent affordable housing.
Last update: April 15, 2009 03:14 PM
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