Laserfiche WebLink
LIVABLE COMMUNITIES QUESTIONS AND ANSWERS <br />1, What is the Metropolitan Livable Communities Act? <br />The Metropolitan Uvable Communities Act (“Acr”) ^vas enacted in June 1995 and is the Ugislature ’s <br />attempt to address various issues facing the seven-county metropolitan area. The Act establishes a <br />Metropolitan Livable Communities Fund which consists of three accounts: the Tax Base Revitalization <br />Account; the Livable Communities Demonstration Account: and the Local Housing Incentives Account. <br />Metropolitan municipalities are not required to participate in the programs under the Act, but the Act <br />provides incentives and funding to those municipalities that do participate. <br />1 What is the incentive to participate? <br />The benefits are clear. Cities, towns and, in some cases, counties have access to resources that will <br />improve their communities and neighborhoods. In addition, the legislation puts local units oj govern­ <br />ment in the driver s seat. Communities can not only choose whether to participate: they also have <br />flexibility in determining how they re going to use the resources available. <br />3. What is the incentive to provide lower-cost housing in our community? <br />.Affordable housing is an investment in communities and their residents. It fulfills a commitment to <br />voting families, single people and older residents that they can find a home they can afford in the com­ <br />munity of their choice. <br />4. WTiat are “afl’orduble** housing and “life-cycle” housing? <br />Housing is "affordable " if it costs no more than 30 percent of a family s income. For ownership hous <br />ing this income amount is SO percent of median, an amount that in 1994 could afford a home costing