County supervisors are looking for ways to come up with another $5 million for affordable housing each year. Supervisor Matt Heinz has been pushing for this since the spring and in July the supervisors asked staff to figure out their options.
County Administrator Jan Lesher laid out those options, and the obstacles for each one, in a memo for Tuesday’s meeting. They could raise property taxes by $10 for the average homeowner, approve a sales tax, cut costs elsewhere in the county budget, issue bonds, or create a trust fund.
In other housing-related news, the county’s Industrial Development Authority decided last month to issue $150 million in Single Family Mortgage Revenue Bonds. Now they have to get approval from the county supervisors. If the IDA gets the green light, they could continue the Lighthouse program that helps first-time homebuyers with down payments.
Source: https://tucsonagenda.substack.com/p/county-tackles-housing-shortage-rta
