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BOE accepts report exploring welfare-exemption changes to promote affordable housing
Summary
The board accepted an informational hearing report on using the welfare-exemption process to streamline and incentivize affordable housing development, including options such as third-party income certification, earlier approval during financing, and expanded income limits.
The Board of Equalization on Oct. 21 accepted an informational hearing report exploring options to use the welfare exemption to incentivize and streamline affordable housing financing.
Member Vasquez summarized proposals heard during a prior August hearing, including (1) authorizing third-party certification to speed tenant income…
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