Louisville Mayor Raising $12 Million For Historic New Affordable Housing Project

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louisville downtownLouisville’s Mayor Greg Fischer just launched a new initiative called Creating Affordable Residences for Economic Success (CARES).

The program will require $12 million to create 1,500 affordable housing units. The money will be coming from new tax programs, city bonds, and private donations.

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Louisville now has an estimated 60,000 households in need of affordable housing, based on the fact that they spend at least one-third of their income on housing. Almost 24,000 of these are considered severely burdened – spending at least half of their earnings on housing costs.

What do you think about the plans?

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