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Housing commission urges Title 21 rewrite to unlock inclusionary funds for homeownership in Franklin City
Summary
The Franklin City Housing Commission told the Board of Mayor and Aldermen it is revising Title 21 to broaden incentives for developers and repurpose roughly $200,000 in inclusionary funds toward down-payment or interest buy-down programs and deed-restricted homeownership.
The Franklin City Housing Commission presented its annual update to the Board of Mayor and Aldermen, urging changes to Title 21 of the municipal code to broaden the city’s tools for creating deed-restricted homeownership.
“We are in the process of revising Title 21 of the current municipal code for the purposes of streamlining the process as well as opening it to for profit developers to give them an option to be a part of the incentives that the city offers,” the Housing Commission representative said during the presentation.
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