Flagstaff awards $3.3 million in Rental Incentive Bonds for affordable housing units
April 8, 2024
The Flagstaff City Council recently awarded $3.33 million in Rental Incentive Bonds toward the construction of 139 affordable rental units in the downtown area.
The Bond Program provides loans to developers for new rental projects that include at least 10% affordable units. The latest funding will go to the Foundation for Senior Living for two apartment complexes, serving seniors earning up to 80% of the Area Median Income, and individuals and families earning up to 60%.
Josh Freeman | KAZM News Director | josh@mellowmountainradio.com
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