IH Assessments for Redevelopment
Hello,
The city of Boulder initiated it's Inclusionary Housing program in 2000. All new residential development must provide 20% of the project as permanently affordable. The requirement may be met by on-site affordable units, off-site affordable units or cash-in-lieu of units. Up until now, redevelopment has not been an issue but we are moving into the phase where, in some cased projects that provided an IH assessment are redeveloping in a relatively short timeline. For example, a couple of units are created in a building that is planned to be redeveloped in 4-5 years. They pay in lieu now and would have to pay again or provide units in a couple of years upon redevelopment. Does anyone know of a program that accounts for this type of scenario?
Thanks,
Michelle Allen
Housing Planner
Views: 3
Replies to This Discussion
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Permalink Reply by Kurt Creager on
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Not exactly but if the policy stipulation is for permanently affordable dwellings, then why would the city allow or enable a temporary designation of an affordable unit? It seems like the goal should be some level of predictability not a churning of units. The off site option would allow the unit(s) to be provided elsewhere with the desired predictable and long term affordability without impairing someone's future plan for redevelopment. Is that still an option?
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Permalink Reply by Keith Henderson on -
Are redevelopment plans so unpredictable? Perhaps something more comprehensive needs to be done up front to avoid the situation. Is there a way you can do an analysis that looks at ratios of assessed land value to assessed improvement value to get an early indicator of places likely to redevelop?
In New Jersey, we have a specific “Local Redevelopment and Housing Law” that establishes certain criteria for “areas in need of redevelopment.” We just recently amended that law to state the following:
A plan for the provision, through new construction or substantial rehabilitation of one comparable, affordable replacement housing unit for each affordable housing unit that has been occupied at any time within the last 18 months, that is subject to affordability controls and that is identified as to be removed as a result of implementation of the redevelopment plan. Displaced residents of housing units provided under any State or federal housing subsidy program, or pursuant to the "Fair Housing Act," P.L.1985, c.222 (C.52:27D-301 et al.), provided they are deemed to be eligible, shall have first priority for those replacement units provided under the plan; provided that any such replacement unit shall not be credited against a prospective municipal obligation under the "Fair Housing Act," P.L.1985, c.222 (C.52:27D-301 et al.), if the housing unit which is removed had previously been credited toward satisfying the municipal fair share obligation. To the extent reasonably feasible, replacement housing shall be provided within or in close proximity to the redevelopment area. A municipality shall report annually to the Department of Community Affairs on its progress in implementing the plan for provision of comparable, affordable replacement housing required pursuant to this section. -
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