Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Affordable Housing topic
No spam. Unsubscribe anytime.
Basalt planning commissioners recommend council consider new income bands to expand affordable housing eligibility
Summary
The Basalt Planning & Zoning Commission voted Oct. 15 to recommend Town Council consider amendments adding an ultra-low-income category (<50% AMI) and two higher tiers (121'150% and 151'200% AMI) and to raise the maximum average AMI for for-sale affordable units from 100% to 120% to encourage inclusion of those tiers.
The Basalt Planning & Zoning Commission on Oct. 15 voted to recommend that Town Council consider code amendments to Chapter 16 that add new income categories to the town's affordable housing rules and adjust how average income targets are calculated.
Staff presentation explained the proposed changes would add a "category zero" for households earning up to 50% of area median income (AMI), and would add category 4 (121'150% AMI) and category 5 (151'200% AMI). The amendments would keep the maximum average AMI for rental projects at 100% but would increase the maximum average AMI for for-sale affordable units from 100% to 120% to make it more feasible for developers to include category 4 and 5 units in mixed projects. "These just were kind of low hanging fruit to jump into first," staff member James said, describing the changes as initial steps tied to recommendations from an EPS housing study.
Commissioners asked for numeric and programmatic clarifications. James provided that 100% of AMI for a one-person household in the combined Eagle/Pitkin AMI used by Basalt is $82,000 and explained that the town uses a combined county AMI because Basalt straddles Eagle and Pitkin counties. Commissioners pressed on how federal and tax-credit definitions align with the town's categories and how deed restrictions are enforced; staff noted that LIHTC-related deed restrictions are sometimes limited in duration and that Basalt uses backup deed restrictions tied to its own AMI levels (the transcript referenced typical deed restriction lengths of about 30 years).
No members of the public spoke during the online comment period. After discussion, a commissioner moved to recommend approval to Town Council; another commissioner seconded (second recorded from Rob Levit) and the voice vote carried.
Why it matters: planners and developers told commissioners the added tiers are meant to fill gaps identified in the town's housing study by making it easier to produce homes affordable to both very low-income and moderate-income households. The change to allow up to a 120% average for-sale AMI is intended to create flexibility so some units in a project can serve households above 100% AMI while still including lower-income units.
Next steps: The commission's recommendation will be transmitted to the Town Council for a formal hearing and potential adoption.
