A new model to build affordable housing got the green light from the Pensacola City Council on Monday afternoon.
The Pensacola City Council, meeting as the Community Redevelopment Agency board, unanimously approved donating three properties to the Northwest Florida Community Land Trust in a 5-0 vote.
Under the agreement, the Home Builders Association of West Florida will build two new homes and rehabilitate a third that will be sold as affordable homes to individuals making 120% or less than the area median income. The homes can only be resold in the future to individuals at a price that is affordable for that same level of income.
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