Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Affordable Housing Exemption topic
No spam. Unsubscribe anytime.
Commission hears details of affordable-housing carve-out: 25% of units at 60% CMI may be exempt
Summary
Staff told commissioners that developments committing 25% of units at 60% of area median income (about $45,000 per Noel's estimate) could qualify for a tree-preservation exemption. Commissioners asked for clarification of the income threshold and applicability.
One of the council-passed amendments creates an exemption for multi-family or mixed-use projects that commit a share of units to long-term affordable housing. Scott Noel explained that a project "if it had a commitment of 25% of the units at 60% CMI" could be exempt from tree-preservation requirements.
Commissioner Erickson asked what 60% of CMI equates to in dollars; Noel replied, "that's roughly about 45,000." The exemption is intended to enable affordable or light-tech subsidized projects that are difficult to finance while preserving tree-preservation requirements for larger developments where mitigation capacity is greater. Noel noted council adopted that carve-out by a strong majority.
