Section 173 Agreement Affordable Housing

The agencies do not benefit from operating subsidies and therefore do not have the possibility to acquire real estate. Each agency`s mission and business practices aim to identify households in need and combine them with appropriate results that ensure continued affordability. Therefore, an agency will not enter into an agreement with a developer if it is not able to manage the long-term profitability of housing or development. Second, a housing agency will not enter into an agreement with a developer if there is an operating restriction in managing the long-term viability of the property.