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Preliminary Internal Review Draft <br />residential development above <br />commercial spaces downtown. <br />D. Evaluate regulatory or financial <br />incentives for accessible senior <br />housing and income -restricted <br />units in Transit Oriented <br />Development (TOD) areas. <br />Goal HD.3. Offer a diverse range <br />of housing types to accommodate <br />the needs of all families, <br />individuals, and seniors. Ensure <br />access to affordable housing <br />options for residents of all income <br />levels and age groups. <br />Strategy <br />A. Explore additional funding and <br />financing for affordable housing. <br />This may include commercial <br />linkage fees, adopting a low- <br />income housing property tax, <br />fee -in -lieu for on -site commercial, <br />and subsidies for income -restricted <br />housing. <br />B. Evaluate incentives for accessible <br />housing units for seniors. <br />C. Support existing affordable <br />housing through legacy ownership <br />programs and preservation of <br />naturally occurring affordable <br />housing (NOAH). <br />D. Explore the viability of Community <br />Land Trusts (CLT) for the <br />preservation of NOAH units. <br />E. Evaluate feasibility of tax <br />abatements or other financial <br />incentives to property owners who <br />voluntarily deed restrict existing <br />NOAH in order to stabilize this <br />portion of Louisville's housing <br />stock. <br />F. Explore code amendments that <br />implement anti -displacement <br />strategies and mitigation measures <br />for the demolition of NOAH <br />and mobile home communities. <br />The Louisville Housing Plan <br />This Plan, adopted in 2024, provides demographics and <br />economic conditions to understand how the types of <br />housing needed to support the community also evolve over <br />time. The Housing Plan creates a roadmap for developing <br />programs and policies over the next 5+ years that aim to <br />better support existing and future Louisville residents. This <br />Plan is guided by three core goals for strategy development <br />and progress tracking that are mirrored and aligned with this <br />Comprehensive Plan. <br />1. Increase Residential Development Opportunities in <br />Louisville <br />2. Expand and Maintain Access to Affordable Housing <br />3. Diversify Louisville's Housing Stock <br />Read the Plan Here <br />Potential strategies include a <br />minimum replacement requirement <br />of deed -restricted housing, offering <br />existing residents the first -right - <br />of -refusal for replacement units, <br />implementing a community <br />benefits agreement that supports <br />displaced residents, or requiring <br />a developer to assist displaced <br />residents in finding a new home. <br />G. Consider a NOAH Overlay Zone to <br />support the preservation of units <br />that are affordable. The zone could <br />restrict the type of expansion or <br />demolition that can occur. <br />H. Update the City's Inclusionary <br />Housing Ordinance to ensure the <br />regulations are market supported <br />and will produce affordable <br />housing units. <br />I. Evaluate the effectiveness of a <br />commercial linkage fee nexus <br />study and any related regulations. <br />J. Support family friendly housing <br />features with all housing types <br />including units with individual <br />yards, common area parks and <br />open spaces, and locations with <br />safe access to nearby schools. <br />Land Use and Development 159 <br />