ARIZONA NEWS

Maricopa County approves additional $35M for affordable housing units

May 27, 2022, 10:39 AM | Updated: 10:40 am

(Pexels Photo)...

(Pexels Photo)

(Pexels Photo)

PHOENIX — The Maricopa County Board of Supervisors recently approved another $35 million in federal relief funding to develop more affordable housing units in the area.

The total investment of American Rescue Plan Act funding in affordable housing initiatives by the county now stands at $65 million, according to a press release.

“With this new funding, we’re not only adding new, affordable inventory to the market, we’re also providing down payment assistance so more residents can own their homes,” Board of Supervisors Chairman Bill Gates said in the release. “I’m hopeful this can free up more rentals as well.

“What’s good is that we are not simply throwing money at the problem, but really thinking about what gaps we can fill to help address our region’s affordable housing crisis.”

The largest amount of the additional funding ($10.2 million) will go toward buying and remodeling around 83 single-family homes for applicants earning at or below 120% of the area median income when adjusted for household size, the county said. About $5.2 million will be used for homes around metro Phoenix at locations to be determined, while the other half is for dedicated sites in Gila Bend.

Homes in the Community Land Trust program will remain permanently affordable, the county said, with the buyer purchasing the house but the program retaining ownership of the land.

Just over $4.5 million will be used to provide 128 future homeowners with $35,000 each in down payment assistance to buy single-family homes in the county, according to the release, with those eligible earning at or below 120% of the area median income.

People who get the assistance will also receive financial and homeownership counseling covering various needs, such as resolving credit card issues.

Habitat for Humanity of Central Arizona receives just over $2.5 million to build a 25 single-family home community for people with a household income of 80% below the area median income, while $1.5 million in construction costs will go toward the development of a 66-unit affordable rental housing community known as Acacia Heights on the southeast corner of Seventh Avenue and Camelback Road.

The final $480,000 goes to Casa Del Sol Development to cover infrastructure construction costs for 12 single-family detached homes designated as affordable housing on a 2.9-acre site in Wickenburg, the county said, with leftover funds being used to provide applicants with $15,000 in down payment assistance.

Other projects assisted with prior funding include the conversion of a hotel in central Phoenix on Van Buren Street to transitional housing, as well as the addition of housing units for seniors age 55 and over in Glendale who are leaving homelessness or have low incomes.

A breakdown of American Rescue Plan Act funding can be found on the county’s website.

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Maricopa County approves additional $35M for affordable housing units