Bill > HB185

This bill amends the Delaware Site Readiness Fund to expand eligibility for funding by allowing applicants proposing affordable housing projects to receive funding if they can demonstrate that their project will increase economic development in the state. The bill defines "affordable housing" as housing that meets two specific criteria: first, it must be affordable to individuals or families with household incomes at or below the median state income, and second, it must cost no more than 30% of a household's gross annual income, whether that's calculated through total rental and utility expenses or through combined mortgage, property taxes, and required insurance costs. By introducing these provisions, the bill aims to support housing development that is both economically accessible to middle- and lower-income residents and potentially beneficial to the state's broader economic growth.

Housing and Urban Affairs

https://legis.delaware.gov/BillDetail?LegislationId=142305