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Conference conferees adopt single durational affordability requirement for S.127
Summary
House conferees agreed to accept the Senate'proposed durational requirement that affordability covenants remain in effect until all project indebtedness is retired, applying the requirement to both owner'occupied and rental housing in the S.127 omnibus housing bill.
House and Senate conferees working on S.127, the omnibus housing bill, agreed to apply a single durational affordability requirement across owner-occupied and rental housing, keeping affordability in place until a project's indebtedness is retired.
The agreement, presented by John Gray of the Office of Legislative Council, covers the affordability contract and the moderate-income housing development provisions in the draft and adopts the Senate's durational requirement rather than the House's previous, distinct owner-occupied and…
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