|Date: ||March 5, 2019 || Agenda Item #: VIII.A. |
|To:||Mayor and City Council||Item Type:|
|Report / Recommendation |
|From:||Stephanie Hawkinson, Affordable Housing Development Manager|
|Subject:||Approve Revised Policy on New Multifamily Affordable Housing ||Action || |
Motion approving the revised Policy on New Multifamily Affordable Housing.
The revised Policy on New Multifamily Affordable Housing is based on comments, questions and feedback expressed during the last few months by the HRA, developers, and residents. The proposed changes include the following:
- The policy will be applied when a PUD and/or City/HRA funding is requested.
- The revision requires that a percentage of units, rather than square feet, be affordable and the unit mix shall reflect the unit mix of the whole.
- The affordability period increases to 20 years. The policy now includes language reflecting the recently approved Fair Housing policy.
Please see the attached revised Policy on New Multifamily Affordable Housing for additional proposed changes.