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<br />Affordable / Workforce Housing Policy <br />Purpose: <br /> Define issues associated with the expansion and preservation of diverse, affordable housing choices, <br />in San Marcos and identify specific goals and strategies to address those issues in a manner consistent with the <br />vision expressed in the City’s Comprehensive Plan. <br />Vision San Marcos Neighborhood & Housing Vision Statement <br />We envision San Marcos to have a strong, more comprehensive foundation of safe, stable <br />neighborhoods while preserving and protecting the historical, cultural, and natural identities <br />of those neighborhoods. <br />Importance <br />: Affordable housing is important to the economic vitality of San Marcos as an adequate supply <br />supports the local work force and allows them to live close to their jobs. Shorter commutes reduce traffic <br />congestion, air pollution, and expenditures on road maintenance. Having an adequate housing supply also <br />provides a competitive advantage for area employers. Affordable housing benefits families by alleviating <br />overcrowding, reduces the potential of foreclosure and evictions, and may provide the housing stability that is <br />vital to the emotional well-being of children. <br />Definitions: <br /> <br />San Marcos Median Family Income (MFI) – The median family annual income for residents of the City of <br /> <br />San Marcos as established by the most current data available from the U. S. Census Bureau. This term <br />is defined by the Census Bureau as “The sum of income of all family members 15 years and older living <br />in the household. Families are groups of two or more people (one of whom is the householder) related <br />by birth, marriage, or adoption and residing together; all such people (including related subfamily <br />members) are considered as members of one family. <br />This number is expected to change from year to year as census records are updated. This <br /> <br />o <br />number will be the basis of incentives developed under this policy unless otherwise specified. <br />Example: the 2008-2012 American Community Survey data shows that the Median San Marcos <br /> <br />o <br />Family Income is $48,482; <br /> <br />Affordable Housing –Generally construed to mean that a low or moderate-income family can afford to <br /> <br />buy or rent a decent quality dwelling without spending more than 30% of its income on shelter. <br />Generally, affordable housing incentives will be targeted to persons earning 80% or less of the San <br />Marcos MFI. <br />Example: Based on $48,482 San Marcos MFI, 80% would be $38,786 <br /> <br />o <br /> <br />Workforce Housing - Housing for moderate-income workers in professions needed in all communities <br /> <br />such as teachers, fire fighters, and nurses. Generally, workforce housing incentives are targeted to <br />employees earning no more than 140% of San Marcos MFI. <br />Example: Based on $48,482 San Marcos MFI, 140% would be $67,875 <br /> <br />o <br /> <br /> <br />Location Efficient Areas – Areas (a) where transportation costs are low or where public investment will <br />make transportation more affordable in the future, (b) that are located in close proximity to schools, <br />health related facilities, amenities such as parks and childcare, vital retail establishments (pharmacy, <br /> <br />groceries, etc.) and (c) are pedestrian/bicycle friendly. <br /> <br />A & WF Housing Policy 1 Adopted July 2014; Amended March 2017 <br /> <br />