This bill, introduced by Chris Barnett and sponsored by Sabina Flores Perez, aims to establish a new Mixed-Income Community Housing Development Program in Guam, addressing the critical shortage of affordable housing for moderate-income households. The legislation recognizes that many local families earn too much to qualify for traditional housing subsidies but still cannot afford market-rate housing. To tackle this issue, the bill proposes the creation of a new section in the Guam Code Annotated, which includes provisions for planning, financing, and developing mixed-income housing projects that promote sustainable communities. The Guam Housing and Urban Renewal Authority (GHURA) will administer this program, which will also leverage federal resources and local funding to expand housing opportunities.

Key provisions of the bill include the establishment of a Mixed-Income Community Housing Development Fund, which will be used to support the development and rehabilitation of mixed-income housing projects. The bill outlines eligibility criteria for applicants, the selection process for funding, and compliance monitoring to ensure adherence to the program's goals. Additionally, it emphasizes the importance of integrating low-income, moderate-income, and market-rate housing to foster community stability and economic mobility. The bill also mandates the development of a triennial Guam Qualified Allocation Plan to guide the allocation of funds and ensure that housing projects meet the needs of low- and moderate-income households.

Statutes affected:
Bill Text: