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Authorize the Town Manager to Seek an Affordable Housing Partner for the American Legion Property and Begin Negotiating an Agreement under which the Parties would Prepare a Proposed Development Project.
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Staff:
Department:
Sarah Osmer Vi?as, Director
Affordable Housing and Community Connections
Nate Broman-Fulks, Assistant Director
Emily Holt, Affordable Housing Development Officer
Overview: In December 2022, the Town Council approved the Legion Property Committee Recommendations on the Future Use of the American Legion Property, which included designating 8-9 acres fronting Legion Road for affordable housing. Prior to and since that action, staff have explored the feasibility of development on that portion of the site, as well as competitiveness of that area for the Low Income Housing Tax Credit (LIHTC) program. As a next step, Town staff are ready to solicit interest from potential development partners to lead the Town through the planning process to develop the site.
Staff have established the following proposed goals for the development of affordable housing on American Legion Property, which are grounded in the Town's affordable housing goals and the approved Legion Property Committee Recommendations.
1. Provide housing affordable to a range of income levels with priority for units serving households earning 60% or less of Area Median Income
2. Maintain long term affordability
3. Leverage outside funding to minimize need for Town funding
4. Use environmentally friendly and sustainable principles for development
5. Facilitate connections within the community, the future park, and surrounding neighborhood
6. Retain Town ownership of the property
7. Complement the design of the future park on Legion Property
8. Align with the Town's Complete Community Framework and Comprehensive Plan
Proposed Next Steps:
* With Town Council authorization, staff will issue a request for proposals and qualifications.
* Staff will then work with an evaluati...
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