Affordable Housing & Homeownership

The Challenge/Opportunity:

The city of Albany has the second largest Black-White  home ownership gap of any city in the country. Vacant homes and buildings, many from past redlining, contribute to blight and inequality. The net affect is increased crime, decreased investment in the city, and a lower tax base to support growth.

SOLUTION

• Preserve existing homes with repair grants, low-interest loans, and eviction prevention.

• Establish a Home Appraisal Bias Task Force to address equity in property values.

• Work with developers to create mixed-income housing and repurpose vacant properties.

• Support renters and landlords, especially those providing affordable housing.

• Secure down-payment assistance programs for new homebuyers.

LONG TERM GOAL

• - Increase affordable housing options and expand homeownership opportunities.

• - Build stronger, more equitable communities throughout Albany.