Res 2023-189R approving amendments to the Low-Income Housing Tax Credit (“LIHTC”) Policy section of the Affordable/Workforce Housing Policy to reduce the required percentage of units under 30% of the Area Median Income from 25% to 15%

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The Development Code shall establish criteria that ensures alternative housing is appropriately located. ii. Provide "pre-approved" building plans for micro/efficiency homes to builders who are constructing affordable housing to expedite review times and reduce up-front costs. b. Reduce builder's costs for owner-occupied affordable/workforce housing development L Review/modify development regulations that increase costs without clear rationale or benefit such as lot sizes,setbacks, parking requirements,street width standards ii. Provide"pre-approved" building plans suitable for affordable/workforce housing iii. Provide development code/construction permitting fee waivers and/or rebates for community-based non-profit organizations that build affordable housing for developers building affordable or workforce housing. iv. Explore using development incentives to encourage developers to voluntarily include housing designed to be owner-occupied and affordable for low to moderate income households. Incentives might include: 1. Considering an increase in height beyond five stores in the Downtown Smart Code District in proportion to the number of affordable units created. 2. Developing an"affordable housing fund"program that accepts fee-in-lieu payments rather than the construction of affordable housing. As adequate funds accumulate, the City could acquire land to be used for affordable housing construction. 3. Allowing developers to construct the affordable units in off-site locations (sites to be approved by the City at the time the development incentive is approved). c. Encourage in-fill housing development in older,established neighborhoods L Update the City's existing Infill Housing Incentive Program to provide incentives for affordable and/or workforce housing development. ii. Coordinate as practical the affordable/workforce housing program with the Place Based Economic Development Policy. iii. Market the programs to developers, realtors,and lenders. 3. THE CITY'S AGING HOUSING STOCK AND OLDER NEIGHBORHOODS NEED TO BE MAINTAINED IN GOOD CONDITION. a. Reduce costs of renovating older homes while ensuring that modern safety concerns are addressed. L Review development code regulations applicable to non-conforming residential structures regarding repairs and modifications, reconstruction after destruction, and non-conforming moved structures to ensure that the standards provide maximum flexibility while not compromising safety. b. Assist low income homeowners with the costs of maintaining their homes. i. Consider providing funding for housing rehabilitation programs that provide free housing rehab to low income families. ii. Seek additional funding sources and identify potential non-profit partners to carry out housing rehab/reconstruction programs. Affordable&Workforce Housing Policy 3 Adopted July 2014;Amended March 2017,June 2018,&March 1,2022