Tucson is launching the People, Communities and Home Investment Plan (P-CHIP) to address a shortage of 16,000 housing units, which has led to rising home prices and rents. The city council approved the plan, which includes over $4 million in gap funding for developers to facilitate affordable housing projects. This initiative aims to attract more developers to the affordable housing sector, which has been largely avoided due to low profit margins. The funding will be available annually to support both non-profit and for-profit developers.
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