Strategies High Cost Market Research proves that kids who live in higher income neighborhoods do better. Yet high rents keep many families out. The Preservation Compact pioneered a new fund to create affordability in these neighborhoods – without waiting years for expensive new-construction. Basement units Basement units are a type of ADU that are naturally affordable. Making it easier to add these units may also help discourage deconversions of 2-flats, and improve stability of owner-occupants of 2-flats. Preservation Compact and partners are delving into strategies to do just that. Intergovernmental Coordination Without government coordination, existing government assisted buildings can fall between the cracks, losing affordability forever. The Preservation Compact brings government and tenant stakeholders together to identify and preserve buildings before the crisis hits. Rental Property Tax Relief Property taxes drive rent levels. With industry and community partners, the Compact proposed a new state tax incentive to spur long-term rental affordability. Careful Compact analysis shows effects across different neighborhoods – with minimal fiscal impact. Energy Efficiency Improving energy efficiency helps affordability, livability, and the environment. The Preservation Compact launched the Energy Savers program – a one-stop shop and attractive financing – to encourage owners to retrofit their buildings.
