CHARLOTTE, N.C. — The city of Charlotte is selling land with the promise it will receive much needed affordable housing in return.
City leaders plan to sell plots of land on Matheson Avenue, Parkwood Avenue and Spencer Street.
In return, developers promise to build housing for people who make below 80 percent of the Charlotte area's median income.
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Channel 9 has covered affordable housing extensively and is dedicated to helping solve the affordable housing crisis.
City council is expected to make more than $210,000 on the deals, which will be finalized at Monday night’s meeting.
[RELATED: City Council members try to tackle Charlotte's affordable housing crisis]
In addition to building new units, the city also wants to preserve current affordable options.
There will be a $50 million bond referendum for affordable housing on November's ballot.
[RELATED: $50M affordable housing referendum bond to be on November ballot]
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