State Housing Report Released
In 2016, recognizing the increasing lack of housing affordable to those who earn too much to qualify for state or federal assistance, the General Assembly identified a need for investigating methods that would encourage the development of middle income housing.† To that end, Act 157 of 2016 included a call for the Agency of Commerce and Community Development (ACCD) to work with stakeholders to recommend possible solutions.
The resulting study, including recommendations, is now complete and available for review at the Departmentís website: Act 157 Housing Study.
One key finding contained in the report is that public incentives are critical to improve the quality and quantity of housing and finance repairs to sidewalks, roads, sewer and water systems that support new development. Tools like tax credits and tax increment financing also can be effective in supporting housing development and the infrastructure needed for such growth.† Regulatory incentives, such as the Priority Housing Project exemption from Act 250 permitting may be helpful as well, as can be seen from instances where it has facilitated the development of more than 200 housing units in the state by saving an estimated average of six months from state permitting timelines and more than $250,000 in permit fees.