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Market and fiscal analysis: housing largely unaffordable to local incomes; commercial and industrial uses show net fiscal benefits
Summary
County staff reported that most recent housing supply is priced above local earning capacity, most residential prototypes are net fiscal negatives for the county, 2-acre rural lots were among the few net-positive residential types, and commercial/industrial prototypes are net fiscal positives; staff added data centers as a requested prototype.
County staff presented early results from a market analysis and a cost-of-land-use (fiscal impact) study intended to help the county evaluate land-use choices and fiscal implications.
Staff member (Speaker 2) said Partners for Economic Solutions' market work indicates that the majority of newly constructed housing in the county "is not being offered at a price that's attainable for people that earning comes locally right now." The market analysis also concluded that, absent major new commercial office tenants, the local office market has limited expansion potential, while…
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