- Affordable Housing
The Affordable Housing Division is responsible for administering affordable housing programs, including affordable housing development, preservation and monitoring of the existing units.
The Affordable Housing Division analyzes policy and administers programs which ensure that Inglewood preserves and expands housing opportunities for households with very low, low, and moderate incomes. The Division's responsibilities include the development of new and preservation of existing affordable housing. The Division attempts to maximize resources available to the City by working closely with public, private and non-profit partners who are involved in affordable housing as lenders, developers and owners.
On January 10, 2012, the City of Inglewood’s Housing Authority elected to retain the housing assets and functions previously performed by the Redevelopment Agency. The City entered into an agreement with the Housing Authority to carry out the affordable housing production, preservation and assistance activities, and managing all housing assets.
All existing affordable housing units are monitored by the City during an “affordability period”, which lasts at least 45 years, for sold units and 55 years, for rental units. The City records a lien (covenants and restrictions) on each affordable home, which remains on title for the duration of this period. The lien ensures that the City is able to enforce the affordable housing program requirements.
Any home that changes ownership during the affordability period must be sold at an affordable price to an eligible buyer. The City determines the maximum selling price that is affordable and verifies that the buyer is income-eligible. Prices are calculated for affordability; this calculation is not driven by property values or other market conditions.
The Affordable Housing Division monitors the various affordable for sale housing communities to ensure compliance with program requirements. These requirements include the following:
- Homes must be owner-occupied.
- Homes may not be rented.
- Home mortgage refinances and second liens must be approved by the City.
- Home re-sales must be approved by the City to ensure
- that the homes are sold to another low or moderate income family.
Affordable homes are covenanted by the City for at least 45 years. Covenants enable the City to enforce the various program requirements.