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Affordable / Workforce Housing Policy <br />Purpose: Define issues associated with the expansion and preservation of diverse, affordable housing choices, <br />/nSon 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 Son Marcos Neiqhbolhood & Housing Vision Statement <br />We envision Son Marcos to have os/nong, more comprehensive foundation of safe, stable <br />neighborhoods while preserving and protecting the historical, cultural, and naturalidentities <br />of those neighborhoods. <br />Importance: Affordable housing is important to the economic vitality of San Marcos as an adequate supply <br />supports the local workforce and allows them tolive close totheir jobs. Shorter commutes reduce traffic <br />congestion, air pollution, and expenditures onroad maintenance. Having anadequate housing supply also <br />provides acompetitive advantage for area employers. Affordable housing benefits families byalleviating <br />overcrowding, reduces the potential nfforeclosure and evictions, and may provide the housing stability that ia <br />vital tothe emotional well-being ofchildren. <br />Definitions: <br />^ —The area median income bthe midpoint ofaregion's income distribution. <br />San Marcos is located within the Austin Round Rock MSA. Federal housing programs utilize the area <br />median income as the basis for funding. <br />o Example: the 2018 median family income for ofamily of4in the Austin Round Rock MSA is <br />San Marcos Median Family Income (K4F|)—The median family annual income for residents ofthe City of <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 ofo8/bnn8ymembers 25years and older living <br />/nthe 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 />/ne/nbendooycons/de/edosnnennbeoofonefb/nKu <br />o This number is expected to change from year to year as census records are updated. <br />oExample: the 2012-2016 American Community Survey data shows that the Median San Marcos <br />Family Income is $$46,736; <br />Affordable Housing —Generally construed to mean that a low or moderate -income family can afford to <br />buy or rent a decent quality dwelling without spending more than 30% of its income on shelter. <br />Generally, affordable housing incentives will betargeted tn persons earning 80% or less ofthe Area <br />Median Income. <br />Workforce Housing - Housing for moderate -income workers in professions needed in all communities <br />such asteachers, fire fighters, and nurses. Generally, workforce housing incentives are targeted to <br />employees earning nomore than 14O%ofArea Median Income <br />wLocation Efficient Areas — Areas (a) where transportation costs are low orwhere public investment miU <br />make transportation more affordable in the future, (b) that are located in close proximity to schools, <br />health related facilities, amenities such os parks and childcare, vital retail establishments (pharmacy, <br />groceries, etc.) and (c) are pedestrian/bicycle friendly. <br />Affordable &VVorid\orce4�Housing Policy 1 <br />Adopted July 2014;Amended March 2O17,-&]une2U1 <br />