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Q&A
Addressing needs of extremely low-income households in affordable housing
0:51:10
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53 sec
Council Member Áviles raises concerns about extremely low-income (ELI) households, highlighting the need for affordable rents for families earning around 20% AMI. She inquires about the average time for an ELI affordable project to move through the pipeline.
- Discussion of income thresholds for ELI households (20% AMI for a three-person family is $25,420)
- Emphasis on the need for rents at $1,100 or less for these families
- Mention of the low vacancy rate (0.39%) for units affordable to ELI households
Alexa Áviles
0:51:10
Okay, I'm sure you're aware that this report is four hundred plus days overdue, so we're eagerly awaiting its release.
0:51:21
In terms of extremely low cost extremely cost burden households.
0:51:31
20% AMI for a three person family is is 25,420.
0:51:38
These are families who need rents that are 101 1,100 less for which the HVS found a tiny vacancy rate of only point 39%.
0:51:53
How long does it take on average for an ELI income affordable project to move through the pipeline?
0:52:00
And has that been increasing or decreasing?