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Department recommends limiting credits for projects receiving substantial public funding
Summary
To avoid double-benefitting developers, staff proposed a new subsection that would prevent projects that receive substantial public funding (grants, loans, fee waivers) from also receiving housing credits.
Housing Department staff told the Board they are considering a new code subsection to clarify that projects receiving substantial public financial support should not also be eligible for housing credits. The rationale is to prevent a project from receiving multiple layers of public subsidy and crediting that could reduce the County's leverage of limited public funds.
Chair William Spence asked for a clear definition of 'public funding' and Mitchell acknowledged the need for legislative detail, noting that some projects can receive "tens of millions of dollars" in public investment and staff must decide whether to reduce or remove credits when that occurs. The Department will include proposed language and a definition of "public funding" in the matrix for Board review.
