The Steamboat Springs City Council approved an inclusionary zoning ordinance requiring developers in most areas of the city to make 15 percent of residential units affordable.The affordability of the units will come from a deed restriction based on Routt County's annual median income, which was last calculated at $72,700 for a family of four. Affordable units would go to families making 60 percent to 120 percent of the AMI, with an income average of 90 percent.
There is also the option of developers paying a fee in lieu of providing the units at the discretion of the City Council.
The Council will discuss a "no net loss" provision that would require that redevelopments replace demolished affordable units in the coming months.
Read the full article in the Steamboar Pilot
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