AGENDA CAPTION:
Title
Consider approval of Resolution 2018-118R, approving amendments to the Affordable/Workforce Housing Policy relating to the definition of workforce housing and the criteria for the Low Income Housing Tax Credit Policy; and declaring an effective date.
Body
Meeting date: June 19, 2018
Department: Planning and Development Services
Amount & Source of Funding
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
Account Name: N/A
Fiscal Note:
Prior Council Action: The City Council approved an amendment to the policy for Low Income Housing Tax Credit (LIHTC) projects on March 7, 2017
City Council Strategic Initiative: [Please select from the dropdown menu below]
Workforce Housing
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
? Economic Development - Choose an item.
? Environment & Resource Protection - Choose an item.
? Land Use - Direct Growth, Compatible with Surrounding Uses
? Neighborhoods & Housing - Diversified housing options to serve citizens with varying needs and interests
? Parks, Public Spaces & Facilities - Choose an item.
? Transportation - Choose an item.
? Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
Vision San Marcos - A River Runs Through Us
Background Information:
Workforce Housing has been identified as a City Council strategic initiative and the workforce housing subcommittee has been meeting regularly to advance this initiative. Two initial recommendations from these meetings include:
* Redefining the definition of workforce housing to coincide with the Area Median Income,
* Amending the policy for Low Income Housing Tax Credit Projects in order to provide more criteria and a robust application and consideration process for these projects.
Definition of Workforce Housing
The purpose of redefining the definition of workforce housing to c...
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