PROView - January 2008 - (Page 7) PROActive County Proposes Inclusionary Zoning Ordinance by Mike Mayo, Director of Public Affairs Community leaders recognized a few years ago that rising home prices, development patterns and exorbitant costs associated with property taxes and insurance had resulted in a persistent shortage of affordable housing for moderate and low income residents. The high costs associated with housing, and the short supply of affordable housing, have now led to the unfortunate reality that many citizens no longer can afford to live in Pinellas County. In October 2005, the Pinellas County Board of County Commissioners received a report which identified strategies for addressing affordable housing challenges in our community. Three primary strategies were identified: 1. The establishment of a local affordable housing trust fund, 2. Reducing regulatory barriers and 3. Implementing an inclusionary zoning policy. The Board subsequently established a community land trust and local community housing trust fund. In 2006, the county hired a consultant to prepare a nexus study on the need for affordable housing in Pinellas County. Prepared by Bay Area Economics, the findings of the study support the adoption of an inclusionary zoning program. Such a program would require that developers “set aside” a percentage of units as “affordable” housing, as long as the costs associated with building the affordable units are mitigated by density bonuses and other financial incentives. As a result, a proposed ordinance was drafted and distributed. Inclusionary zoning is a tool used by local jurisdictions throughout the nation to increase the amount of affordable (workforce) housing. Inclusionary zoning programs are designed to create a framework within which developers of market rate housing are either required or encouraged to develop housing units that are affordable to households that otherwise would not be able to afford such housing, whether it be rental or ownership. To date, over 200 local jurisdictions have adopted inclusionary zoning policies. Pinellas County’s proposed program would establish a countywide inclusionary housing requirement for new housing developments of twenty (20) units or more. A percentage of the units in such a development (5%, 10%, or 15%) would be set aside as “affordable”. The intent of the program is for affordable housing units to be included “on-site” as an integrated part of a housing development. To offset or mitigate the costs of including PINELLAS REALTOR® ORGANIZATION affordable units on-site, a density bonus of up to 50% is provided as a financial incentive. However, alternative methods of meeting program requirements other than on-site development may be proposed by a developer. These alternatives include: offsite development of affordable units; a land contribution; or a fee in lieu payment. Also, the Countywide Planning Authority may grant a waiver or reduction of inclusionary housing requirements under certain conditions. While the proposed ordinance would apply countywide, any incorporated area may elect to “opt out” of the program requirements. The ordinance is still in draft form and has not been finalized. It is expected that public hearings could be scheduled by the Pinellas County Board of County Commissioners for February 2008. For a copy of the proposed ordinance, contact Mike Mayo at mmayo@tampabayrealtor.com. January 2008 7
Table of Contents Feed for the Digital Edition of PROView - January 2008 PROView - January 2008 Contents Chairman's Notes Feature ProActive Marketing Finance Marketplace Analysis Home Sales Report MLS Update MLS Mind Your Manners Education Calendar of Events & Programs PROBiz Special Feature Brokerage Design New Affiliates and Members for 2008 PROView - January 2008 PROView - January 2008 - PROView - January 2008 (Page Cover1) PROView - January 2008 - PROView - January 2008 (Page Cover2) PROView - January 2008 - Contents (Page 1) PROView - January 2008 - Chairman's Notes (Page 2) PROView - January 2008 - Chairman's Notes (Page 3) PROView - January 2008 - Feature (Page 4) PROView - January 2008 - Feature (Page 5) PROView - January 2008 - Feature (Page 6) PROView - January 2008 - ProActive (Page 7) PROView - January 2008 - Marketing (Page 8) PROView - January 2008 - Marketing (Page 9) PROView - January 2008 - Finance (Page 10) PROView - January 2008 - Finance (Page 11) PROView - January 2008 - Finance (Page 12) PROView - January 2008 - Finance (Page 13) PROView - January 2008 - Marketplace Analysis (Page 14) PROView - January 2008 - Home Sales Report (Page 15) PROView - January 2008 - MLS Update (Page 16) PROView - January 2008 - MLS Mind Your Manners (Page 17) PROView - January 2008 - Education (Page 18) PROView - January 2008 - Calendar of Events & Programs (Page 19) PROView - January 2008 - PROBiz (Page 20) PROView - January 2008 - Special Feature (Page 21) PROView - January 2008 - Brokerage Design (Page 22) PROView - January 2008 - Brokerage Design (Page 23) PROView - January 2008 - Brokerage Design (Page 24) PROView - January 2008 - Brokerage Design (Page 25) PROView - January 2008 - New Affiliates and Members for 2008 (Page 26) PROView - January 2008 - New Affiliates and Members for 2008 (Page Cover4)
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