The Greenville News has published an article about a new affordable housing policy passed at Greenville County Council’s latest meeting.
“…The policy allows the county to provide tax abatements to developers who include affordable housing units in their developments. It is meant to act as a guide for decision-making by officials…
The new policy incentivizes developers to include affordable housing units for residents who earn between 40% and 80% of Greenville County’s average median household income, which was $62,422 in 2020 according to the Census Bureau.
For a housing unit to be considered affordable under the policy, its cost must not exceed 30% of a person’s annual income.
The policy creates an avenue for developers to submit a proposal to the county to receive a tax break based on the amount of affordable housing units they plan to include in their project, with County Council having to approve each proposal…”
Click here to read the entire article.
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