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Buchanan Commissioners weighing ordinance to help spur workforce housing development
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What’s Happening – Moody on the Market
The Buchanan City Commission is considering a new ordinance intended to help developers construct more affordable housing in the community.
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.
Under the rule’s terms, each individual TIF or Payment in Lieu of Taxes would still require city commission approval.