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Council pauses immediate adoption of lower 2025 inclusionary sales‑price ceilings; asks staff for targeted follow‑up
Summary
Staff presented 2025 inclusionary housing maximum sales prices and several policy options. Council directed staff to hold 2024 maximums for now, update some data sources annually, and return with more analysis, while expressing interest in studying raising the capital‑A affordable limit to 100% AMI.
Longmont housing staff presented updated calculations for the inclusionary housing maximum sales prices for 2025 and sought council direction after developers, builders and Habitat for Humanity flagged potential harms if lower ceilings were implemented immediately.
Housing director Molly O’Donnell said updated inputs — notably higher homeowner‑insurance costs and interest‑rate effects — reduce buying power and therefore lower the calculated maximum sales prices, particularly at the 60% and 80% AMI levels. Staff said those changes reflect market conditions but also make it harder…
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