In a decisive move to tackle Arizona’s housing shortage, Governor Katie Hobbs has enacted a new law designed to increase the state’s housing inventory. The legislation introduces the state affordability infrastructure district, which will leverage bonds and additional financing tools to manage construction expenses.
State Representative Jeff Weninger, who sponsored the bill, explains that the initiative aims to distribute infrastructure costs over time rather than incorporating them into the upfront pricing of new homes. This approach is expected to significantly impact housing affordability across Arizona.
Governor Hobbs emphasized the potential benefits of the new financing method, stating, “When we make it easier to finance the infrastructure, we’re driving down the purchase price of the home and Arizonans will feel the difference.”
This legislative measure garnered support from both parties in the state legislature and is scheduled to be implemented in the fall.
-
Against the advice of the Navajo Nation Department of Justice, a government staff member testified regarding a failed housing project worth millions.
-
The Arizona Board of Regents has initiated legal action to enable Arizona State University to acquire a historic property currently in private hands.
-
The Navajo Nation Council is probing the disappearance of $24 million in federal COVID relief funds meant for ZenniHome, a housing project that never came to fruition.
-
A judicial ruling has found that a state agency unlawfully imposed a “tax” on developers building in areas lacking consistent water sources.
-
Revisiting 2006, when writer Julie Hampton aspired to purchase an $80,000 home in a quaint Italian town near Florence during her graduate studies.
—
Read More Arizona News
