Board approves 256‑unit KMF affordable project LURA despite pushback on 120% AMI units

The board voted to execute a land‑use restriction agreement (LURA) for a 256‑unit multifamily development presented by Coulter Multifamily (KMF). Under the approved LURA, 64 units were set aside at 120% of area median income (AMI). Staff said the LURA was a condition of prior site‑plan and designation approvals dating to 2022, and the applicant has completed final site‑plan approvals and financing is near close.

Commissioner debate focused on the income targeting: several commissioners and members of the public argued 120% AMI does not constitute affordable housing for working families and urged future projects to deepen affordability (60–80% AMI). Supporters and staff replied that this project had already progressed through approvals, that the LURA was part of the conditional approvals granted earlier, and that changing affordability levels at the last step would imperil funding and delay construction. One commissioner noted the board could advance policy changes but should not disrupt an applicant’s funding that was assembled under prior board policy.

After discussion the board approved execution of the LURA, with the vote recorded on the screen. Several commissioners said they want to revisit county incentives and the 120% policy in future workshops and comprehensive plan work to ensure future projects better match the board’s affordability targets.

Staff said the developer expects to close the financing this week and begin construction; county affordable‑housing staff and the developer will coordinate on final regulatory compliance and deed restrictions. The developer’s representative said the project already had final site plan approval and that rescinding the LURA would likely render the financing infeasible.