THIS TIME, FOR THE DEVELOPERS Two proposals out of Mayor White’s office earlier this year — one to pay down the consumer debt of homebuyers, the other to give $5,000 bonuses to Realtors representing buyers in 8 revitalization areas — didn’t get very far. But City Council approved the latest version yesterday: $620,000 in construction subsidies from the TIRZ Affordable Housing Fund for 10 homes — 4 in Trinity Gardens and 6 in the Fourth Ward. The participating builders and CDCs are to be chosen by the city’s Housing and Community Development Director. “The developers may sell the homes after they are used for at least a year as models, but the net proceeds must be reinvested in the same community.” [Houston Chronicle, via Swamplot inbox; details on page 200 here (PDF)]
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