Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council adopts expansion of Affordable Housing Production Program pilot, adds gap financing and enforceable milestones
Summary
Council introduced an ordinance to codify the AHPP pilot (first 1,000 units) and expand program criteria for additional eligible projects: increased gap financing ($160,000/unit, indexed), an option to purchase at‑risk deed restrictions with 75-year covenants, enforceable milestones for off-site affordable units, and a community-benefit payment mechanism.
City staff presented revisions to the Affordable Housing Production Program (AHPP) pilot and an expanded voluntary program for additional eligible projects. The ordinance introduced for first reading codifies the original pilot for the first 1,000 units and establishes expanded terms for further projects that meet eligibility criteria.
Key changes in the revised ordinance include:
- Gap financing increase: the upfront gap financing per affordable unit rises to $160,000 and will be indexed annually to a building-cost index.
- At-…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
