City of Zurich plans municipal housing fund

The city of Zurich is planning to set up a new funding instrument to provide more affordable housing. A municipal housing fund is to provide financial support to non-profit organizations if they wish to acquire residential land or properties and build and renovate rental apartments. To this end, the fund is to receive an initial endowment of CHF 100 million as well as a framework credit of CHF 200 million for the further accumulation of the fund. Occupancy regulations are planned for properties that receive a contribution from the fund.

A majority of the Zurich City Council approved the project. The SP, Greens, GLP and AL were in favor of the initiative proposed by the city council, while the commission minority of SVP, FDP and Die Mitte rejected the fund. However, the Zurich electorate has the final say. (ah)