City Council Agenda and Packet 2019 04 09 SP

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SUBJECT: REGIONAL AFFORDABLE HOUSING DATE: SEPTEMBER 19, 2017 PAGE 3 OF 7 existing affordable homes is necessary to meet the goal. The report compares the current pace of affordable housing development, at 200 — 500 units per year in the region, and the need to continue that trend and acquire or deed -restrict an additional 300-700 homes per year. The Partnership recommended a mix of affordable homeownership and rental housing that includes 30% of homes for ownership for families between 20% to 120% AM! and 70% of homes acquired/built for affordable rental housing for families between 0% to 80% AMI. An additional 225 units of Permanently Supportive Affordable Housing units should be included in the rental goal.3 Report recommendations for immediate actions necessary within each community to meet these goals include: Building staff capacity to understand the challenges and dedicate time to affordable housing; bolstering financial resources at the state and local level; aligning local government regulations; securing land for affordable housing; acquiring and building affordable units; and preserving/monitoring the affordable units already in existence. The report provides for the first time a regional road -map for communities to work together to improve access to housing in our area. Sample Statement Regarding Louisville's Commitment to Affordable Housing In response to the Draft Plan, per City Council direction, staff has prepared the following draft statement for consideration: As stated in the City of Louisville comprehensive plan, we value Families and individuals, where the City accommodates the needs of all individuals in all stages of life through our parks, trails, and roadway design, our City services, and City regulations to ensure they provide an environment which accommodates individual mobility needs, quality of life goals, and housing options. The Boulder County Regional Affordable Housing Plan illuminates an issue that we are very familiar with here in Louisville: Changing demographics and economic influences have impacted the availability of the full range of housing options within our community. The policies outlined in our Comprehensive Plan demonstrate our support for a diversity of housing types, and specify that diverse housing opportunities shall be available for 3 The Boulder County Consortium of Cities completed a report in June, 2016 that outlines solutions for Boulder County communities to increase the opportunities for permanently supportive housing. Boulder County Permanent Supportive Housing Study. June 2016. CITY COUNCIL COMMUNICATION 240 8