SR 06:060 - Laserfiche WebLink

Affordable Units The City's Inclusionary Housing ordinance requires that new multiple-family residential projects of 15 units or more provide 15% of the project's dwelling units be affordable to very low, low, and or/moderate income households. This project proposes 45 units and of these, seven units are to be Below Market Rate (BMR) units. The seven affordable units include four two-bedroom units and three three-bedroom units. Five of the seven BMR units are for low income and two for moderate income level. The applicant has agreed to enter into an Affordable Housing Agreement that has been reviewed by the Housing Commission. The proposed development provides five "affordable by design" units. All of the "affordable by design" units are two-bedroom units. The price of the "affordable by design" unit would be set somewhere between the Below Market Rate units and the Market Rate units. These five units would not meet the "affordable" threshold. This effort equals 12 total affordable units Staff supports the proposed affordability component of the development. The project would result in an addition to the City's stock of below-market housing. Recommendation of the Housing Commission The Housing Commission reviewed the preliminary plans on August 18, 2005, and noted the importance of this lot as one of the last opportunities for high-density, infill development within the City limits. Thus, they requested the developer to consider increasing the density to yield a higher number of affordable housing units for low-income households. This request was made in an effort to assist the City in meeting its fair-share of regional affordable housing requirements. On October 20, 2005, the Housing Commission reviewed a draft Affordable Housing Agreement for the project. At the August 18th meeting, the zoning, density, and affordability were the major topics of discussion. The Commission continued to advocate for an increase in the number of units in order to gain additional affordable units. The Commission recommended approval of the Affordable Housing Agreement to the City Council (a copy of the draft agreement is attached for your reference). The Housing Commission further recommended that the Planning Commission and City Council to pursuit a higher density in this development as a means of increasing affordability. v. PUBLIC COMMENT Staff has received comments from surrounding neighbors at the two neighborhood meetings as well as through phone calls. Comments from the neighbors are attached and are summarized below. Notices of the Planning Commission's public hearing were sent to the residents within I,OOO-feet radius of the subject property. Staff has not received any additional comments. Case No. PUD-49 Planning Commission Page-lO-