Res 2014-096/Approving an Affordable/Workforce Housing Policy

Home Browse Search

Affordable / Workforce Housing Policy Purpose: Define issues associated with the expansion and preservation of diverse, affordable housing choices, in San Marcos and identify specific goals and strategies to address those issues in a manner consistent with the vision expressed in the City's Comprehensive Plan. Vision San Marcos Neighborhood & Housing Vision Statement We envision San Marcos to have a strong, more comprehensive foundation of safe, stable neighborhoods while preserving and protecting the historical, cultural, and natural identities of those neighborhoods. Importance: Affordable housing is important to the economic vitality of San Marcos as an adequate supply supports the local work force and allows them to live close to their jobs. Shorter commutes reduce traffic congestion, air pollution, and expenditures on road maintenance. Having an adequate housing supply also provides a competitive advantage for area employers. Affordable housing benefits families by alleviating overcrowding, reduces the potential of foreclosure and evictions, and may provide the housing stability that is vital to the emotional well -being of children. Definitions: San Marcos Median Family Income (MR) —The median family annual income for residents of the City of San Marcos as established by the most current data available from the U. S. Census Bureau. This term is defined by the Census Bureau as "The sum of income of all family members 15 years and older living in the household. Families are groups of two or more people (one of whom is the householder) related by birth, marriage, or adoption and residing together, all such people (including related subfamily members) are considered as members of one family. o This number is expected to change from year to year as census records are updated. This number will be the basis of incentives developed under this policy unless otherwise specified. o Example: the 2008 -2012 American Community Survey data shows that the Median San Marcos Family Income is $48,482, Affordable Housing — Generally construed to mean that a low or moderate - income family can afford to buy or rent a decent quality dwelling without spending more than 30% of its income on shelter. Generally, affordable housing incentives will be targeted to persons earning 80% or less of the San Marcos MR. o Example: Based on $48,482 San Marcos MR, 80% would be $38,786 • Workforce Housing - Housing for moderate - income workers in professions needed in all communities such as teachers, fire fighters, and nurses. Generally, workforce housing incentives are targeted to employees earning no more than 140% of San Marcos MR. o Example: Based on $48,482 San Marcos MR, 140% would be $67,875 • Location Efficient Areas — Areas (a) where transportation costs are low or where public investment will make transportation more affordable in the future, (b) that are located in close proximity to schools, health related facilities, amenities such as parks and childcare, vital retail establishments (pharmacy, groceries, etc.) and (c) are pedestrian /bicycle friendly. A & WF Housing Policy 1 July 2014