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Officials ask staff for data on unit mix, AMI and eligibility rules before deciding 90 Virginia Lane details
Summary
After staff signaled possible changes to the AMI distribution and unit mix to close a $5M condo-side funding gap, board members asked for market evidence and financial analysis before approving changes and suggested any eligibility rule changes be considered in the fall rules-and-regulations update.
Councilors and county commissioners used the April 6 joint meeting to press staff and the developer for evidence before changing the planned affordability mix at 90 Virginia Lane. Several elected officials argued for clearer market data showing demand for two- and three-bedroom for-sale units and for pro forma analysis of how converting one-bedroom condos into larger…
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