City of Grand Junction exploring ‘land bank’ practice to tackle affordable housing
The city is exploring a new strategy for tackling the affordable housing issue gripping Colorado.
Published: Mar. 14, 2023 at 2:07 PM MDT
GRAND JUNCTION, Colo. (KJCT) - The City of Grand Junction is expected to start moving towards approving a land banking program as a housing cost-cutting measure.
The city says that the idea is to use taxpayer money to help developers buy property as a way to help reduce construction costs overall.
Analysts say that the less it costs to build a home, the more affordable it becomes.
City staff say that they are already working on identifying possible projects. A special committee overseeing COVID relief money recommended spending over $3.8 million of unused federal funds.
Copyright 2023 KJCT. All rights reserved.
/cloudfront-us-east-1.images.arcpublishing.com/gray/C3ZOIZSPCRGJTI37YDPQXZ4SSM.PNG)
/cloudfront-us-east-1.images.arcpublishing.com/gray/7WOQWDOQWNHPNDUWEBBEZVHZRA.jpg)
/cloudfront-us-east-1.images.arcpublishing.com/gray/FK4VYS3BA5AOZF6Q4GPRGOCHKQ.jpg)
/cloudfront-us-east-1.images.arcpublishing.com/gray/N6GDJFOFAJAXBJQTWKWBVZ3YEY.jpg)
/cloudfront-us-east-1.images.arcpublishing.com/gray/QL6FCY7YRJBXLDSEQOSXDG7DZM.png)
/cloudfront-us-east-1.images.arcpublishing.com/gray/GBR5SDMGUJA4BH3YHNZ3HE7SGM.jpg)
/cloudfront-us-east-1.images.arcpublishing.com/gray/PKBXVJG575HVFDHLL37JWFBOQ4.jpg)
/do0bihdskp9dy.cloudfront.net/03-25-2023/t_0d10e2ddcc004094aee980082c32354d_name_file_1280x720_2000_v3_1_.jpg)