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City of Albuquerque § 3-4-3 Affordable Housing Policy

Affordable Housing    
New Mexico
City Of Albuquerque   
Urban | Suburban |
This statute describes the affordable housing policy of the city of Albuquerque, NM. The policy sets the affordable housing rate at thirty percent of the family’s income for rental and home ownership housing, and that the purchase price of the home does not exceed eighty percent of the median price of an existing home for affordable home ownership housing. The statute also describes which households are low- and median-income households, and describes changes in the functions and appointments of the Affordable Housing Committee.