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Council approves substituted changes to mixed-income pilot, raising affordability threshold and lengthening abatement
Summary
The Budget & Finance Committee approved a substitute to adjust the mixed-income pilot: raising the affordability threshold from 75% to 80% of area median income, extending the affordability period from 10 to 15 years, and moving to a dynamic calculation model. The substitute and the bill as substituted passed unanimously in committee.
The Budget & Finance Committee on a unanimous 11-0 vote approved a substitute to a resolution adjusting the city’s mixed-income pilot program, moving its affordability criteria from 75% to 80% of area median income, extending the abatement period from 10 years to 15 years, and adopting a more dynamic, adjustable calculation model.
The committee passed the substitute so the bill could advance to the full council. Council member Allen, who moved the substitute, said the changes respond to market shifts and feedback from developers: "This substitute makes some…
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