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RATIONALE <br />A lack of available utilities, cost of utilities, and road infrastructure can <br />determine whether a project will move forward or not due to the substantial <br />costs. Iring programs for such infrastructure can ease the financial burden <br />for developers and support future housing development on opportunity sites. <br />DESCRIPTION <br />Housing Goals <br />Large development sites, in particular, frequently demand extensive infrastructure development, which <br />can significantly affect their financial feasibility and, in some cases, drive outcomes that might not align <br />with the City's housing goals. The City can utilize cost -sharing opportunities to help ease the financial <br />impact on new projects, particularly those that provide affordable housing or meet other established <br />housing goals. Cost -sharing tools could include: <br />Development Agreements (DA): legally binding contracts In the City and a developer or landowner <br />that outline terms for a specific development project, including infrastructure or other amenities. <br />While the city currently utilizes DAs, it could adjust typical terms to: <br />Have the City assume a greater share of the infrastructure costs or obligations if a project <br />provides onsite affordable housing, increasing its share as the affordable set -aside <br />increases. The fee in lieu for inclusionary housing from other projects is one possible funding <br />source for this cost share as is funds from Proposition 123. <br />Exempt projects from some inclusionary zoning requirements if they significantly contribute <br />to infrastructure development and align with broader housing objectives like providing a <br />mixture of housing types aimed at creating a more mixed income community. <br />♦ Local Improvement Districts (LIDs): LIDs are established when property owners or developers <br />initiate a formal request to collectively fund infrastructure enhancements. In Colorado, numerous <br />municipalities have successfully used LIDs as a financing mechanism for sizable projects. If paired <br />with agreements to provide affordable housing, a LID can assist with developers financing project <br />infrastructure to support affordable housing. <br />ACTION 2.1 BENFITS SUMMARY <br />INCOME LEVEL <br />GEOGRAPHIC <br />ACTION TYPE <br />HOUSING PRODUCTION <br />COST <br />SERVED <br />SCALE <br />Policy <br />Change/Financial <br />All <br />Greenfield Sites or <br />Support/Partnerships <br />Large Parcels <br />Louisville Housing Plan Part 4: Housing Strategies and Actions 36 <br />