Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Housing Credits topic
No spam. Unsubscribe anytime.
Staff proposes full credits for 100% workforce projects to spur production
Summary
Housing Department staff recommended changing credit rules so developments that are 100% residential workforce housing receive full one-to-one credits, replacing the current 75% credit for such projects, to better incentivize entirely affordable projects.
Get email alerts on the Housing Credits topic
No spam. Unsubscribe anytime.
Department staff told the Board that the current crediting mechanism is complex and may disincentivize fully affordable developments because 100% workforce projects currently receive credits for only 75% of qualifying units. Director Mitchell said simplifying and clarifying credit language would align incentives with the chapter’s intent to boost actual workforce housing production.
Mitchell stated the Department’s view plainly: "If it's 100%, it should be a one for one, in our opinion." Staff also proposed improvements to credit reporting and transference, including an annual reporting requirement so the County can track credits that are transferred and used.
