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64 <br /> <br />Strategy 3: Increase inventory of and access to Affordable Housing units <br />Option Explanation <br />residential) (variation on <br />20-B) <br />20-F: Create a working group to <br />study this option in <br />depth and include <br />sensible <br />recommendations. <br />NEW- Depending on this (current) Working Group’s recommendation, <br />Council could decide that this option needs more study and could <br />convene a new working group to examine this specific option in more <br />depth. Council directed the Housing Policy Board to develop a <br />recommendation on CETs. Their work concluded in April of 2018. <br />21. Increase density bonus for <br />qualified Affordable housing <br />No new information based on straw poll <br />22. Inclusionary Zoning (IZ). No new information based on straw poll <br />22-A: Mandatory IZ—Under <br />state law, this could apply <br />to any buildings with 20 or <br />more units. State law <br />requires that mandatory IZ <br />include incentives (Ex: <br />density bonus). <br />No new information based on straw poll <br />22-B: Voluntary IZ—Make IZ <br />optional but create <br />incentives (Ex: SDC <br />waivers, density bonus) to <br />encourage market-rate <br />developers to include <br />Affordable units. <br />Explain with reference to incentives- SDC or otherwise and related <br />costs/drawbacks. <br />City incentives for affordable housing are already available to market- <br />rate developers who wish to include affordable rental or <br />homeownership units in their developments. Additional study would <br />be needed to determine if additional incentives would be effective. <br />23. Require that housing meets <br />needs identified by specific <br />populations. <br />No new information based on straw poll <br />24. Help low and moderate- <br />income households purchase a <br />home, such as navigators to <br />support the purchase process <br />and down-payment assistance, <br />(help people move up the <br />housing ladder). <br />Minimal new information based on straw poll- <br />The City used to provide down-payment assistance with HUD (federal) <br />funds but increasing housing costs and declining federal funds <br />reduced the number of households the City could help. The program’s <br />administrative costs per household increased, and the City redirected <br />the funds to other programs that could be more impactful. <br />25. Help low and moderate- <br />income households keep their <br />homes safe or stay in their <br />home, such as emergency home <br />repair and foreclosure <br />assistance (homeowner <br />assistance). <br />No new information based on straw poll <br />December 10, 2018, Work Session - Item 2