What are the benefits of community housing management corporations? What are the roles and responsibilities of this corporation today? These are the things we will discuss below.
What Is A Community Housing Management Corporation?
A community housing management corporation is also known as CHMC. This is a corporation that purchases land and then provides, builds, and manages affordable housing units.
In a sense, this is the same thing as a housing cooperative. The community housing management corporation can be created by the state or federal government, local governments, and private organizations.
It can employ people, who are often low-income families, to manage the affordable housing units. So this corporation can also provide services such as home repair, maintenance, and security.
It works in partnership with the local government to provide affordable housing units to poor people who cannot afford to buy or rent their own houses.
Benefits Of The Community Housing Corporation
Certain benefits can be enjoyed by the community housing corporation. For example:
Low Cost:
It can help house the poor at a low cost. So this is because the corporation receives subsidies from the government to provide decent affordable housing units to low-income families and individuals.
Earning:
It can help its employees earn an income through employment opportunities provided by this corporation. So this can allow them to earn a decent living for themselves and their families.
Build Partnership:
It can help build partnerships within the community for more effective governance of affordable housing for low-income people. It will also result in effective monitoring of what is happening in these communities.
How Much Is The Cost Of Community Management Corporation?
The cost of community housing management corporations can be minimal. For example, the corporation can purchase land for an affordable price and purchase or build affordable housing units at a low cost.
It can also provide services and amenities to low-income people at a very low cost. In this way, it can help its employees earn an income without spending too much money.
However, the government will provide subsidies to make sure that the corporation can provide decent affordable housing units to low-income families and individuals.
What Is The Role Of The Community Management Corporation?
The role of a community management corporation is to manage the affordable housing units that are developed by this corporation. So it will employ people to manage these affordable housing units.
It can also provide home repair, maintenance, and security services to poor people who cannot afford to buy or rent their own houses. Then, it works in partnership with the local government for this purpose.
In a sense, it is similar to a housing cooperative that provides affordable housing units for low-income families and individuals in the community.
What Is The Role Of The Local Government In Community Housing Management Corporation?
The local government has certain roles that are needed by the community housing management corporation to operate successfully in the community. For example:
Land Acquisition:
The local government can help the community housing management corporation acquire land for affordable housing units. So this can be done through either public land or private land.
Financing:
The local government can help the community housing management corporation obtain financing to develop affordable housing units. Then, it can help finance affordable housing units with its funds.
Planning:
The local government can provide planning assistance to the community housing management corporation to develop and plan affordable housing units. Then, it can help plan and design affordable housing units that have a good appearance and are well-designed.
Financial Assistance:
The local government can give financial assistance to pay for the development of affordable housing units. Then, it will fund the purchase of land, construction of these affordable housing units
And also to pay for their maintenance and repair work.