$250K Per Year Salary Could Qualify For Subsidized Housing Under New Palo Alto Plan
CBS SF
March 22, 2016 6:02 PM
PALO ALTO (CBS SF) — Palo Alto is seeking housing solutions for
residents who are not among the region’s super-rich, but who also earn
more than the threshhold to qualify for affordable housing programs.
The city council has unanimously passed a housing plan that would
essentially subsidize new housing for what qualifies as middle-class
nowadays, families making from $150,000 to $250,000 a year.
(...)
Some of the small two-bedroom, one-bath homes on her block are worth
between $1.5 and $2 million – as teardowns. That’s just what the dirt is
worth.
“Prices have just gone through the roof, making it unaffordable for
middle-class people, your firefighters, your teachers, and, frankly,
some of your doctors,” Palo Alto Vice Mayor Greg Scharff said.
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