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Ridgefield officials discuss deed restrictions for condo units to add affordable housing stock

Ridgefield officials are discussing how to increase affordable housing, without leading to sprawl. 

The Ridgefield Press reports that a tax credit could be offered for Casagmo and Fox Hill units that become deed restricted as affordable.  Some of the units have sold for prices considered affordable, but the state requires that a housing unit also be deed restricted to remain affordable for 40 years. 

But there are some concerns that a deed restriction will reduce the market value as both a rental and when there's a resale. 

The Selectmen say getting credit for an accurate count of affordable units will help when the state determines whether Ridgefield is open to applications under the 8-30g statute.  Any municipality with over 10% of its housing stock qualifying as affordable is exempt from 8-30g applications.  Density, height and setback restrictions can be bypassed by developers for projects that include 30% of units deemed affordable. 

According to the Town Plan of Conservation and Development Ridgefield has a total of about 10,000 housing units, 80-percent of which are single-family detached homes.

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