Two New Affordable Housing Measures Pass Metro Council
Metro Council approved two affordable housing proposals this week. One creates a pilot program for residential developers that would offer incentives and grants for projects with affordably priced units. The other is a measure under which developers who seek zoning variance (or greater development rights) for their projects would have to include affordable or workforce units.
The inclusionary zoning proposal won't take effect for nine months, which was important in getting the support of some organizations, such as the Nashville Chamber of Commerce, the Nashville Business Journal reports. According to the chamber, the delay is important because it allows developers time to “prepare for the change and determine their best course of action.” [NBJ]