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Prescott committee reviews density bonuses, fee waivers and other incentives to spur workforce housing
Summary
A city committee heard a consultantproposal that centers on modest density bonuses (15to2020%) and targeted incentives such as permit-fee waivers and monitoring requirements to make workforce housing financially feasible without shifting costs to market-rate units.
The Prescott City Workforce Housing Committee spent the meeting reviewing an implementation strategy aimed at closing the gap between construction costs and what local workers can afford. Consultant Rick Merritt told the committee the strategy centers on code amendments and incentives designed to make workforce projects financially feasible, naming density bonuses in the 15% to 20% range and selective fee waivers as focal tools.
"We're looking at that and trying to figure out the levels of density incentive, which really are basically at no cost to the city, that will make this feasible," Merritt said, adding that a 15% to 20% density bonus is likely to…
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