Bethlehem City Council approved a $12,000 contract with the Center for Public Enterprise, a nonprofit based in New York, to design a new financing tool aimed at tackling the city’s housing shortage.
The initiative, passed on Oct. 8, will provide technical assistance for developing a revolving loan fund, a model intended to incentivize the construction of more mixed-income housing.
The revolving loan fund is a part of “Opening Doors: Strategies to Build Housing Stability,” the city’s plan to make housing more affordable. Unlike a traditional one-time grant, the fund is designed to be a self-sustaining financial tool…