2. MetroCOG workforce housing study

a few years or production goals set as a share of each jurisdiction's overall distribution of income in the region. The advantage of this model is that it allows participating communities to balance fairness issues (based on formulas or commitments to goals) with the political feasibility of implementing the policies, techniques, programs and tools to achieve the goals. It is most important that goals for numbers, types and prices of housing be based in some market projections. That is, they should capture the effective market demand so the goals can realistically be met. They should be frequently adjusted to correspond with economic conditions. It is important to have a convening institutional presence (such as a respected regional organization) to provide resources, technical support and monitoring. The process should be carefully structured to include those with varied technical backgrounds, political authority and housing perspectives in a meaningful role in the negotiation. Just HOW these goals are achieved is due to the types of policies, programs, techniques and tools that local governments use. lnclusionarv zoning, sometimes called incentive zoning, programs link the construction of affordable housing to market-rate housing, either by requiring developers to set-aside a percentage of their units as workforce housing as condition of approval or by offering developers incentives to include affordable units in their developments. Below is a list of some incentives and other measures: o Density bonuses o Priority allocation of building permits o Reduction of infrastructure minimums or layouts that reduce infrastructure costs, such as sidewalks, street widths and arterial/collector street layout o Use of tax increment financing (T1Fs) to subsidize infrastructure costs o Land cost write downs o Waivers of development fees o Fast-track development plan and building permit approval o Approval of mixed-use zoning Linda S. Donnelly. ;\.LC.P. 25 Augu,{ 2006