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<br /> December 10, 2018, Work Session – Item 2 <br /> <br />Envision Eugene Community Vision The seven pillars, or community values, include: Provide housing affordable to all income levels. Housing strategies in the 2012 recommendation include planning for a higher proportion of multi-family housing in the future, expanding housing variety and choice, assessing the applicability of a housing and transportation affordability index, supporting subsidized affordable housing projects, and continuing existing programs that support preservation and rehabilitation of existing housing stock. <br />Urban Growth Boundary Adoption Package Eugene’s Housing Needs Analysis identifies a need for all housing types and price levels to meet the community’s 20-year needs. In order to fit all of the community’s needed housing inside the existing UGB, council directed staff to continue existing incentive programs for higher-density housing downtown and to increase the minimum density requirement in the R-2 medium-density residential zone. Council direction also launched the Clear and Objective standards update, Urban Reserves planning and a Growth Monitoring program. <br />COUNCIL OPTIONS Council options are: <br />Option 1. Direct the City Manager to address housing affordability, availability and diversity by implementing the following. A. Reduce the Cost of Housing Production i. Pursue the options developed by the Housing Tools and Strategies Working Group that had broad support, as identified in Attachment F. ii. Pursue the recommendations from Better Housing Together, as identified in Attachment F. iii. Appropriate $250,000 as part of FY20 budget to complete the work outlined above. B. Increase Local Funding to Address Housing Affordability Prepare a draft ordinance for council consideration and schedule a Public Hearing to create a Construction Excise Tax to support an Affordable Housing Fund. The ordinance will have the following provisions. i. 0.33 percent tax rate effective July 1, 2019. ii. 0.50 percent tax rate effective July 1, 2020. iii. CET rate would apply to residential and commercial types of construction, consistent with state statute. iv. In addition to state-mandated exemptions, the following would be exempted from the CET: Affordable housing projects, projects receiving a Multi-Unit Property Tax Exemption, and houses priced at less than $250,000. v. Establish an advisory committee to recommend CET allocations. vi. The total CET imposed on any single or multi-phase project would be capped at $1,000,000.