Bill to build 2,500 affordable homes gets nod from Senate Committee

ST. THOMAS - The Senate Housing, Parks and Recreation Committee has approved a bill that seeks to build 2,500 affordable homes territorywide during five years.

The Homeownership Act of 2004 would allow developers to use government-owned land to build a range of residential units from condominiums to single-family homes.

"The legislation will provide work, will provide homes and hopefully a better society," said Sen. Emmett Hansen, the committee's chairman.

The Housing Finance Authority would oversee the program, conveying for free government-owned land to developers, who then would build the homes.

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