SUBJECT:
Title
Inclusionary Housing Update
Body
DEPARTMENT: Planning & Development
PRESENTER: Paul Glasgow, Interim Director of Planning & Development
TIME ESTIMATE: 30 minutes
only required for non-consent items
STAFF RECOMMENDATION:
Recommendation
Information only: Project Update.
End
Background:
Diverse and affordable housing contributes to community vitality and economic development, helps promote family stability, improves environmental outcomes, and increases public safety. Twenty-two years ago, in 2000, Town leadership recognized the lack of affordability when it adopted the Comprehensive Plan. That Comp Plan stated the Town lacks affordable housing and starter homes. The Plan also identified actions to mitigate the lack of housing affordability. It recommended the development of an Inclusionary Housing Ordinance and encouraged participation in regional partnerships.
In 2020 the Board of Trustees followed-through on this intention by joining the Boulder County Regional Housing Partnership (BCRHP), which has the goal of ensuring 12% of the housing inventory will be permanently affordable to low, moderate, and middle-income households by 2035. Since joining BCRHP, Town staff has been actively collaborating with the other jurisdictions in the Partnership, reviewing the policies and programs they have implemented to achieve the 12% goal. Based on this review and numerous discussions with BCRHP members, Town staff, with the assistance of the Town Attorney, is drafting an inclusionary housing ordinance that draws on the best elements of each jurisdictions' policies as well as other policies the Town Attorney is familiar with.
In addition to work on the inclusionary housing ordinance, in 2021, the Town's Economic Development department applied for and was awarded a Planning Grant from DOLA authorized by Colorado House Bill 21-1721, which provides resources and incentives to promote affordable housing. Using funding from this grant, Town staff wi...
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