The City of Flagstaff is hoping a $20 million bond measure will help create rental and homeownership opportunities as the availability of affordable housing in the city continues to decline.
The Arizona Republic reports Proposition 442 would invest the funds into redeveloping city-owned housing and other existing buildings into affordable rental units.
It would also incentivize the private sector to include affordable rental housing in new developments.
Flagstaff would also expand the homebuyer assistance program, which provides financial aid to new homebuyers, especially for down payments and closing costs.
