PEACE Zones

Poverty Erasure and Community Enhancement (PEACE) Zones

Each year, $143 million, previously in the police budget, will be split into six $28 million direct investments into economically-challenged and environmentally-challenged communities – 24 communities over four years. That means **$572 million** in direct investments over a four-year term. Each community will receive an additional $1 million in the following year (see below).

Notes
– All homes must have reflective roofing or green roofing
– 100 homes offered to residents at 30-69% AMI – specifically, the city’s median income ($47,131) with 50 community families given priority
–So, residents with incomes of $14,139 to $32,520 qualify–
Rent subsidies are $800/mo for rent and $400/mo for utilities
–Subsidies will be provided for two years
– 15% of homes must have ADA-compliant exteriors and interiors -specifically, bathrooms
– $90,000 for 100 homes each for residents at 30-69% AMI

– $30,000 for 100 homes each for residents at >69%-120% AMI
–So, residents with incomes of $32,521 to $56,557 qualify
–Rents can range from $813/mo to $1,414/mo, with rents being determined by 30% of household income

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***The $1 million in rent and utility subsidies is akin to the Federal Housing Administration’s federally-backed loans for white Americans, beginning in the 1930s, to increase homeownership. Unfortunately, this was not accessible to black Americans. This arrangement permits private homebuilders a boost to their business, and owners are assured on-time payments to help in their profit-making.***