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Planning Board backs changes to downtown housing incentive program to expand affordability options and add payment‑in‑lieu formula
Summary
City planners proposed changes to the Downtown Master Plan housing incentive program to add a payment‑in‑lieu formula for for‑sale units, extend affordability periods to 30 years and expand eligible area‑median‑income tiers to 120% AMI; the planning board unanimously recommended approval.
The West Palm Beach Planning Board on Sept. 16 recommended approval of a city‑initiated text amendment to the Downtown Master Plan housing incentive program that clarifies requirements for for‑sale projects, creates a formula for payment‑in‑lieu (PIL) fees, extends affordability periods and expands eligible income tiers. City staff and housing officials told the board the amendment is intended to increase homeownership opportunities near downtown.
Why it matters: The change gives developers a defined method to pay an in‑lieu fee when a for‑sale project does not provide required affordable units on‑site or off‑site, expands the eligible area median income (AMI) range to as much as 120% for certain units, and…
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