Incentives For Affordable Housing

The ERP contains provisions to pay enhanced incentives (currently 25% above the standard incentive, not to exceed 75% of system cost) to qualifying affordable housing projects. We propose initially to continue this practice in the CSI, while conducting a thorough investigation into the specific structure of affordable housing markets in order to modify the program to allow significant additional affordable housing participation. ERP has received applications for almost 350 affordable housing projects. We believe the CSI's long-term assured funding will be attractive to affordable housing developers.