Six-figure income qualifies for 'affordable' housing aid in D.C. suburb?

by ~ The Rebel ~ Posted 2012/06/06 18:41:23

Related Topics: Income, Work, Sales, Rates, Sale, Price, Six, Person, Selling, Need, Figure

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Fairfax County administers sales and rentals of the units and can give priority to people who live or work in Fairfax.

The county also has the right to buy up to one-third of the units within the first three months they are available. In the case of rental units, the county has the right to lease up to one-third of them.

The county determines the market rates for both selling and leasing the properties. Purchased units are price-controlled for 30 years after the initial sale, and rental units are rent-controlled for 50 years.

Supervisor Pat Herrity, Springfield Republican, said these kinds of terms are much too favorable for people pulling down $100,000 a year.

“I support the county subsidizing housing for the mentally and physically disabled and those truly in need, but the county should not be requiring subsidies for persons making up to $120,000 per year that have housing options in Fairfax County,” Mr. Herrity said.

Officials crafted the transformation of Tysons in hopes that the development, coupled with additional Metro stations, would help the county’s commuter-heavy economic engine blossom into a livable, walkable community.