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Explore Affordable Housing Strategies in the Blue Hill District.
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Staff: |
Department: |
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Loryn Clark, Executive Director |
Housing and Community |
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Sarah Viñas, Assistant Director |
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Nate Broman-Fulks, Affordable Housing Manager |
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Emily Holt, Affordable Housing Development Officer |
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Overview: On March 14, 2018, several Council Members submitted a petition <https://chapelhill.legistar.com/LegislationDetail.aspx?ID=3378092&GUID=CF613ECB-AE0E-4A16-8801-9292A08A4231&Options=&Search=> asking the Manager to return to the Council with solutions to address several community interests in the Blue Hill District, including affordable housing. The purpose of this memorandum is to propose potential strategies to support affordable housing in the Blue Hill District.
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Recommendation(s): |
That the Council receive this report and provide direction on the identified strategies for affordable housing in the Blue Hill District.
Overview:
When the Blue Hill District (the District) was established, the Council set a goal of creating 300 affordable housing units or 20% of the new units within the District. To date, 149 affordable housing units have been developed on land donated from the Town through a partnership with local non-profit affordable housing developer DHIC.
Over the past several years, staff have explored options to incentivize affordable housing in the District to reach the affordable housing goal. This item focuses on strategies staff have identified that could assist with meeting this goal and reflects extensive research conducted by Town staff and feedback provided on draft strategies from the Housing Advisory Board.
Fiscal Impact/Resources: Some of the proposed strategies would have a fiscal impact for the Town. For example:
• Resources to subsidize construction or operating costs in exchange for developers agreeing to maintain long term affordability on a specified number of units.
• Dedicating a portion of property tax revenue from properties within the Blue Hill District to an affordable housing fund.
Proposed Next Steps: With guidance from the Council, we will refine and further explore the identified strategies. We will return to the Council with a final set of strategy recommendations in the fall.
Where is this item in its process?
Council Goals:
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Create a Place for Everyone |
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Develop Good Places, New Spaces |
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Support Community Prosperity |
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Nurture Our Community |
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Facilitate Getting Around |
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Grow Town and Gown Collaboration |
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Attachments: |
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• Draft Staff Presentation |
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• Staff Report: Blue Hill District Affordable Housing Report |
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The Agenda will reflect the text below and/or the motion text will be used during the meeting. |
presenter
PRESENTER: Nate Broman-Fulks, Affordable Housing Manager
Emily Holt, Affordable Housing Development Officer
RECOMMENDATION: That the Council receive this report and provide direction on the identified strategies for affordable housing in the Blue Hill District.