The Longmont City Council this week will begin a series of meetings to talk about possible changes to the city’s Inclusionary Housing Program. Longmont’s Inclusionary Housing Ordinance requires the equivalent of 12% of units in new residential development be affordable to low-and moderate-income buyers, according to the city’s website.
Council will consider the changes in three separate study sessions, beginning at Tuesday’s 7 p.m. meeting. The second and third study sessions are scheduled for Oct. 12 and Oct. 26, according to a city staff report.
Council members, Tuesday, will consider two items for discussion including whether developments providing more than the minimum required affordable housing unit receive credits or additional financial or development incentives, the staff report states.
The current ordinance does not permit the granting of more development incentives beyond those currently authorized under Longmont’s Municipal Code for projects exceeding the required affordable housing, the staff report states.
The city could change the code to say: “A developer may propose an alternative manner in which the development will satisfy or exceed its obligations …” according to the staff report.
The city council could also consider specific incentives when a development exceeds the Affordable Housing requirement that could be available to all, the staff report said.
Or the city could combine both options for a developer who is providing a community benefit, the report states.
