Planning Commission Agenda and Packet 2021 05 13

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Planning Commission Staff Report May 13, 2021 3 The City’s Comprehensive Plan also includes several policies that support development of affordable housing regulations such as Inclusionary Housing: PRINCIPLE NH-5. There should be a mix of housing types and pricing to meet changing economic, social, and multigenerational needs of those who reside, and would like to reside, in Louisville. Policy NH-5.1: Housing should meet the needs of seniors, empty- nesters, disabled, renters, first time home-buyers and all others by ensuring a variety of housing types, prices, and styles are created and maintained. Policy NH-5.2: The City should continue to work with Boulder County Housing Authority and others to ensure an adequate supply of affordable housing is available in Louisville. Policy NH-5.7: The City should define standards for low-income and affordable housing units, and consider reducing or waiving building permit and impact fees for all qualifying projects. PRINCIPLE NH-6. The City should define City-wide goals for affordable and low-income housing through a public process. Policy NH-6.1: The City should determine to what extent it would like to allow, encourage, or incentivize affordable and low-income housing. Policy NH-6.2: The City should develop specific and achievable actions to meet the defined goals. The adoption of this ordinance provides one tool to promote a variety of housing types and prices and is an achievable tool that other jurisdictions in our region have utilized. Each of the following jurisdictions have an adopted Inclusionary Housing ordinance: - Longmont – requires 12% affordable units (see Attachment 7 for ordinance) - Boulder – requires 25% affordable units; 20% for low-moderate income households and 5% for middle income households (see Attachment 8 for ordinance) - Superior – requires 15% affordable units (see Attachment 9 for ordinance) - Lafayette – does not have a percent required, but requires a fee in lieu (see Attachment 10 for ordinance) Each jurisdiction has varying definitions and ranges of what may be considered affordable housing and alternative options outside of on-site development, such as allowance for off-site development and cash in lieu options. The larger communities of Longmont and Boulder have more established affordable housing programs and housing authorities that assist in administration. Other incentives are sometimes included in