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Buchanan Commissioners review ordinance to encourage more development of workforce housing
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WIRX Superstation
The Buchanan City Commission is considering a new ordinance intended to help developers construct more affordable housing in the community.
Buchanan City Manager Tony McGhee tells us the ordinance would establish a system for those developers to seek brownfield Tax Increment Financing plans and Payment in Lieu of Taxes arrangements when working on workforce housing in the area.
The goal is to entice more developers to create housing for workers like teachers, police officers, healthcare employees, tradespeople, and service workers.
And we expect one, if not both, of those developers to utilize this workforce housing incentive when they build new homes on those lots.”
McGhee says if all goes well, the ordinance could be approved this summer, creating a simpler way for developers to create workforce housing in Buchanan.