Twenty percent of tax increment revenue generated by the NTC Redevelopment Project and received by the Redevelopment Agency must be used to provide housing to persons or families of low and moderate income. Set-aside funds after build-out are estimated to average approximately $1 million annually.
Fifteen percent of residential units developed in a redevelopment project area must be allocated to persons or families of low and moderate income. If such housing is not made available within the project area, the Redevelopment Agency must provide such housing on a two-for-one basis outside of the project area. There will be no low- and moderate-income housing within the boundaries of the NTC Redevelopment Project Area, and so the Redevelopment Agency is responsible for providing at least 256 low- and moderate-income units outside the Project Area. The Redevelopment Agency has formed a partnership with the San Diego Housing Commission to leverage set-aside funds with other revenue for the construction or acquisition of low- and moderate-income housing.
More information on affordable housing is available on the Redevelopment Agency's website.