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Committee explores enforcement: bonds, liens, grant assurances and business-licensing limitations
Summary
Members debated enforcement tools to keep units affordable after incentives: performance bonds, liens, grant-assurance repayment, and business licensing were discussed; staff and legal will review options and potential conflicts with lenders and property rights.
The committee spent significant time on how the city should ensure developers meet workforce-housing commitments and what remedies the city could use if projects stop providing affordable housing. Committee members proposed performance bonds, liens, grant-assurance contracts, and business-license conditions as possible enforcement tools. One committee member said…
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