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<br /> I . <br /> -E~ ~.." <br /> .. <br /> I. . <br /> I ~ <br /> I ~~ <br /> I LIVABLE COMMUNITIES QUESTIONS AND ANSWERS <br /> I 1. What is the Metropolitan Livable Communities Act? <br /> I The Metropolitan. Livable Communities Act ("Act") was enacted in June 1995 and is the Legislature's <br /> I attempt to address various issues facing the seven-county metropolitan area. The Act establishes a <br /> Metropolitan. Livable Communities Fund which consists of three accounts: the Tax Base Revitalization <br /> I Account; the Livable Communities Demonstration Account; and the Local Housing Incentives Account. <br /> Metropolitan municipalities are not required to participate in the programs under the Act, but the Act <br /> I . provides incentives andfundin~ to those municipalities that do participate. <br /> 2. What is the incentive to participate? <br /> I <br /> The benefits are clear. Cities, towns and, in some cases, counties have access to resources that will <br /> I improve their communities and neighborhoods. In addition, the legislation puts local units of govern- <br /> ment in the driver's seat. Communities can not only choose whether to participate; they also have <br /> I flexibility in detennining how they're going to use the resources available. <br /> I 3. What is the incentive to provide lower-cost housing in our community? <br /> I Affordable housing is an investment in communities and their residents. It fulfills a commitment to <br /> young families, single people and older residents that they can find a home they can afford in the com- <br /> I munity of their choice. <br /> 4. What are "affordable" housing and "life-cycle" housing? <br /> I <br /> . Housing is "affordable" if it costs no more than 30 percent of afamily's income. For ownership hous- <br /> I ing this income amount is 80 percent of median, an amount that in 1994 could afford a home costing <br /> I <br />