City Council Minutes 2023 09 26 - Laserfiche WebLink

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City Council Meeting Minutes September 26, 2023 Page 2 of 6 noted that even before the Marshall Fire we have been seeing a decline in enrollment numbers at Louisville schools and it is projected to continue. He stated that under the current zoning we could probably achieve 400 new units. The new housing plan can impact EDI goals, sustainability, economic vitality goals, and preservation. He stated this evening staff is looking to see if there are any strategies missing, to see what additional information is needed, and to understand what the highest priorities are. The Plan is not intended to set a housing number goal, but create strategies to get to where we want to be. Tyler Bump, EcoNorthwest, stated the goals are to prioritize and diversify housing stock. He noted Louisville's population is aging quickly and there is the need to prioritize housing for seniors. The Plan should address unmet housing needs and future housing needs including housing opportunities for young families; how to create income restricted housing; and how to create a more diverse and inclusive community. Bump reviewed the history of the project noting it is a precursor for the Comprehensive Plan, it should work with existing housing goals, and it is a part of ongoing housing work in the County and region. This plan will identify strategies for increasing residential development, expanding access to affordable housing, and diversifying the City's housing stock. He noted increasing stock is not for a specific number but how to get the kind of housing Louisville needs. Bump reviewed the strategies they are looking at including identifying opportunities for residential development and identifying policy changes are needed to reach those goals and evaluating procedures to streamline processes. He reviewed the increasing income and wealth gap among households in Louisville including the very rapid increase in high income households and reduction in low to moderate households in Louisville. On average the renter median income is 50% of homeowner median income. The average home price in Louisville is over $800,000; only 26% of households could afford the homes they currently live in. Bump reviewed strategies that might facilitate deed restricted housing through State Proposition 123 and strategies that might support the preservation of naturally affordable housing. He reviewed the need for diversifying the housing stock due to shifting demographics and the need for homes for younger households. He reviewed the current housing stock mix by type and strategies for adopting code allowances for more diverse housing development and supporting more flexible infill development.