Local affordable housing units that rely on some kind of federal subsidy are unlikely to convert to market rate in the near future, according to a recent report by City Staff.

About 1,014 affordable units rely on funding from the United States Department of Housing and Urban Development (HUD). Depending on the terms of that funding, HUD supported units could be in jeopardy of converting to market rate, but according to the city’s Housing Division, current units are protected by prescient actions by past councils and vigilance by current regulators.

Read More: http://smdp.com/city-protections-credited-for-stabilizing-federally-supported-affordable-housing/154782