Lincoln Mayor Leirion Gaylor Baird announces an effort to increase affordable housing. She says they want to designate certain areas as extremely blighted that enables a one-time $5,000 credit for qualified home buyers. Mayor Gaylor Baird says “The tax credit is a huge benefit to those looking to make the step into homeownership. That kind of social investment into neighborhoods is a key part of our revitalization strategies.”
Mayor Gaylor Baird says, “Maintaining and increasing the supply of safe, quality affordable housing is essential for Lincoln families as our City continues to grow,”.
To qualify as extremely blighted, an area must meet three criteria:
- It must be declared blighted and substandard by the City Council.
- The average unemployment rate in the area must be at least 200 percent of the average State unemployment rate.
- The area’s average poverty rate must exceed 20 percent.
The Lincoln Lancaster County Planning Commission will consider its recommendation Wednesday. The new designation was made possible by recent state legislation.