Friday, November 02, 2007

AFFORDABLE HOUSING: City councilors and developers hope the Three Springs development in Grandview will be a model for a future affordable housing policy in Durango.

To comply with the original agreement, Three Springs must provide 52 attainable units for the first two phases. The developers fulfilled the requirement for affordable units for at least the first two phases by donating land for the 63 unit Mercy Housing PinonTerrace development adjacent to Mercy Regional Medical Hospital.

"Affordable" unites are defined as being affordable for households earning as much as 80 percent of the area median income or AMI. "Attainable" unites are those which are affordable to households earning between 80 and 125 percent of AMI.

http://HomesInDurango.com
http://DurangoRealEstate.biz

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