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<br />Housing Tools and Strategies Action Inventory 7 In-progress Actions <br />C. Increase the Inventory of and Access to Affordable Units <br />Action Explanation <br />Level of <br />Support <br />Impact <br />Does this action increase housing affordability, <br />availability, and/or diversity <br />assistance, and home-ownership assistance <br />programs. <br /> <br />The HTS working group also suggested a CET <br />have a sliding scale, with more costly residential <br />developments having a higher rate than lower <br />cost developments. In January 2019, City Council <br />initiated the process to create a CET. <br />Aff-3 Shift money from the <br />City’s General Fund, <br />which would shift <br />funding from other City <br />services, to support <br />Affordable Housing. <br />No local funds directly support the development <br />of Affordable housing. The City offers exemptions <br />to Affordable housing developments, for SDCs <br />and a 20-year property tax exemption. Money <br />could be shifted from other parts of the City <br />budget and applied directly for the development <br />of Affordable housing efforts. <br /> <br />In the January 2019 draft ordinance to create a <br />CET, the draft ordinance directs the City’s General <br />Fund to contribute $500,000 annual to an <br />Affordable Housing Fund. <br />HTS working <br />group somewhat <br />supported this <br />action (54%) with <br />25% opposing it. <br />Yes – The funds could be used to increase the supply <br />of Affordable housing units. <br />Aff-4 Help low and moderate- <br />income households keep <br />their homes safe or stay <br />in their home, such as <br />emergency home repair <br />and foreclosure <br />assistance (homeowner <br />assistance). <br /> <br />The City currently has a program for emergency <br />home repairs. Demand for the program is much <br />greater than federal funds can support. NEDCO <br />offers limited foreclosure assistance, funded by <br />the state. <br /> <br />HTS working <br />group supported <br />this action (81%) <br />in the preliminary <br />vote. <br />Yes – These programs are able to help small numbers <br />of households stay in their homes. <br />Aff-5 Create process for timely <br />completion of <br />Environmental Review <br />for Affordable housing <br />projects to reduce delays. <br />Federally funded Affordable housing <br />developments require an Environmental Review <br />be conducted to ensure the proposed <br />development will not have any unexpected <br />environmental hazards for its future residents. <br /> <br />From BHT. Yes – Reducing the time to complete Environmental <br />Reviews contributes to the development of new <br />Affordable housing units. <br />March 13, 2019, Work Session - Item 2