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The Market-to-Affordable Housing Opportunity
April 13, 2011 @ 9:00 am - 12:00 pm
Affordable housing is getting increasingly difficult to plan for and build. The housing market at this time, however unfortunate, is full of market-rate units that aren’t worth what they used to be worth. Some towns in New Jersey have established Market-to-Affordable programs that allow the municipality to purchase underpriced units, buy down the price even further, and turn them into affordable housing rental or for sale units. This panel discussion will talk with a couple of the administrators of these programs about how they work, and one tax assessor who must re-evaluate the price of the units for tax purposes.