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Warrant Article for Affordable Housing

From the Conway Daily Sun - 

Full article here: https://www.conwaydailysun.com/news/local/affordable-housing-article-to-go-on-the-warrant/article_f216b980-aa77-11ee-99c0-0b144ef720ea.html

Conway's selectmen have decided to include a warrant article in the 2024 ballot, proposed by Town Planner Ryan O’Connor, to adopt the provisions of RSA 79-E, New Hampshire's “Community Revitalization Tax Relief Program.” This program aims to boost affordable housing by offering tax relief to builders who dedicate at least one-third of their new or renovated buildings to affordable units. "Affordable" here is defined as housing for people earning no more than 80% of the area's median income, which translates to a rent or mortgage cap of approximately $1,185 per month.

Some local residents expressed concerns at a meeting. Danny Allen, a rental property owner, highlighted that even rents below the proposed cap are challenging for tenants in the valley. Russell Rennie questioned the genuine public benefit of the tax break, particularly for apartments already rented below the threshold. O’Connor clarified that selectmen would have discretion over the duration of the tax relief, which could range from two to ten years based on the project's public benefit. Despite some reservations, the selectmen unanimously voted to present this proposal to voters, with Selectman Steve Porter acknowledging the concerns but emphasizing the importance of taking action on affordable housing.

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