HomeMy WebLinkAbout18484 Affordable Housing Ordinance Text Amendment
MEMORANDUM
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TO: Community Affordable Housing Advisory Board (CAHAB)
FROM: Matthew Madsen, AFFORDABLE HOUSING PROGRAM MANAGER
PLANNING
RE: Affordable Housing Ordinance 38.380 Text Amendment
DATE: 10/10/2018
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Project Description: This amendment is in addition to the original text
amendments that were approved unanimously by CAHAB at the August 11th
meeting. The amendment presented today includes the following language and
changes to sections with Article 38.380 Affordable Housing.
Developers/Builders may price and sell homes at 80% of Area Median Income
(AMI) as a way to satisfy the requirements of Article 38.380.
1. Homes that are priced at 80% AMI will meet the quantity requirements of
moderate‐priced homes (30% of total dwelling units) as described in Section
38.380.060 Subsection A.1.
2. Homes that are built at priced at 80% AMI will be eligible for the subsidies
and procedural adjustments that lower‐priced homes receive as described in
Section 38.380.130.
3. Homes that receive any city subsidies will be required to adhere to Section
38.380.160 subsidy recapture for lower‐priced homes
4. Any subsidies and procedural adjustments must be included in the affordable
housing plan that is submitted by developer/builder at the time of receiving
final plat.
Recommendation:
1. At this time, staff does not recommend either approval or non‐approval of
this item but will pass the CAHAB recommendation on to the City
Commission at time of presentation of the Affordable Housing Ordinance
Text Amendment
2. Staff recommends that CAHAB make a motion to either approve or
disapprove this addition to the AHO Ordinance 38.380 to be brought to
commission as an additional consideration to the text amendment.