Fayetteville Arkansas, University of Arkansas--Old Main Overview

Fayetteville Arkansas, University of Arkansas--Old Main Overview
Overview of Fayetteville, AR

Friday, May 11, 2007

Fayetteville and One Developer Cooperating to Offer Affordable Housing for City Employees

I want to commend the City of Fayetteville and developer Hank Broyles and his partners, John Nock and Lex Broyles, for their cooperative efforts to create affordable housing for city employees. As you know affordable housing is one of my "pet" subjects in this blog.

Some expensive road realignments were called for at Broyles’ new Holcomb Heights subdivision of 105 homes. The city agreed to pay up to $50,000 towards the costs if Broyles would agree to lower the price on some of the homes.

The least expensive homes in the subdivision were expected to cost $131,000. With the city’s financial help on the road expenses, Broyles said he would be able to lower the cost to $120,000 on six homes. Broyles said he would market the homes directly to city employees because the average city worker would be able to quality for a mortgage on a $120,000 home.

It is important to note, however, buyers do not have to be employed by the city. The homes will be sold to anyone who qualifies.

We all know that municipal workers are needed and appreciated. Police officers, firefighters, office staff, meter readers, park workers, sewer maintenance people - none are over paid by any standard. Without these workers, the city would be a disaster.

Currently more than 50% of the city’s employees live outside the Fayetteville city limits. It is generally believed they cannot afford to live in the city.

It’s refreshing to see what can be accomplished when all parties cooperate. While this innovative cooperation between a developer and the city will lower the cost on only six homes, it is a beginning. It is also a clear example of what might be accomplished in the future.

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