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City staff outline standardized housing-incentive package and process reforms to speed development
Summary
City staff proposed a standardized incentive package (fee waivers, TIF/enterprise-zone coordination, sales-tax abatements and density bonuses) and operational reforms (zoning code review, plan-review improvements, self-certification) intended to reduce developer uncertainty and spur housing construction.
City staff presented a package of policy and process ideas Tuesday intended to reduce developer uncertainty and lower project costs for housing development.
Assistant/Deputy city staff framed the proposals as a response to repeated concerns raised by builders and developers that high construction costs, regulatory uncertainty and long plan-review times push projects to nearby communities with more favorable financing or incentives.
Key elements of the staff proposal: - Standardized incentives (proposed): staff proposed a tiered, standardized package that would be available for a limited window (staff suggested two years for projects that get in the queue). Elements include: if a project is located in both a Tax Increment Financing (TIF) district and the state enterprise zone, provide up to 75% of the TIF increment for TIF-eligible costs; waive 50%–100% of city plan and permit fees…
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