If deemed surplus, city seeks to sell three more properties to further grow Affordable Housing Trust

Key Takeaways:

• Manchester plans to sell three vacant properties.
• Properties require surplus designation by the Board of Mayor and Aldermen.
• Proceeds will benefit the city’s affordable housing trust.
• The initiative supports affordable housing efforts in Manchester.

Manchester is taking strategic steps to enhance its affordable housing efforts by proposing the sale of three city-owned vacant parcels of land. These properties, if deemed surplus by the Manchester Board of Mayor and Aldermen, could provide a significant influx of funds to the city’s affordable housing trust.

The Proposed Sale

The three parcels in question are currently unused and offer an opportunity for the city to repurpose dormant assets. “The City of Manchester looks to sell three vacant parcels of land,” indicating a move to make better use of city resources.

Approval Process

For the sales to proceed, the properties must first be officially designated as surplus. This decision rests with the Manchester Board of Mayor and Aldermen. Their approval is a crucial step in enabling the city to move forward with the sale and allocate the proceeds accordingly.

Affordable Housing Trust

The primary goal of selling these properties is to bolster the city’s affordable housing trust. By “adding the proceeds into the city’s affordable housing trust,” Manchester aims to fund initiatives that address the growing need for affordable housing within the community.

Impact on Affordable Housing

This initiative reflects Manchester’s commitment to supporting residents in need of affordable housing options. The additional funds could help finance the development of new housing projects, subsidies, or other programs that make housing more accessible.

Conclusion

Manchester’s consideration of selling surplus land underscores a proactive approach to city planning and resource management. By converting vacant properties into funding for affordable housing, the city demonstrates a dedication to meeting community needs and fostering a more inclusive environment for all residents.