How does Lexington fund affordable housing?
Lexington's funding for Affordable Housing development is managed through two programs.
- The LFUCG Affordable Housing Program, which uses local tax dollars make Affordable Housing developments cheaper. This costs about $2M of local tax dollars per year.
- HOME Investment Partnership Program, which uses federal funding to support organizations that are either building or are maintaining AH. This costs about $1.3M of federal tax dollars per year.
This money comes from $2.3M of local tax dollars per year and $1M of federal tax dollars per year.
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“Consolidated Plan.” City of Lexington. https://www.lexingtonky.gov/consolidated-plan Last Accesssed: September 26, 2017.
“Office of Affordable Housing” City of Lexing- ton. https://www.lexingtonky.gov/lexington-affordable-housing-program Last Accessed: September 26, 2017