City updates proposed Affordable Housing Bonus Program administrative procedures

As part of CodeNEXT, the city has been working on developing a citywide Affordable Housing Bonus Program. Since state law prohibits the city from mandating that developers include affordable housing units, bonus programs like this are used to incentivize the construction of affordable housing by offering an exchange of entitlements (such as allowing a taller building) for setting aside a certain number of income-restricted units. On Saturday, the city announced that it has reworked the administrative procedures that could be used for implementation of the proposed program. This update “reflects an ongoing calibration of the bonus program since the release of CodeNEXT 3.0 in February of this year.” The revised plan can be downloaded as a PDF, and the maps on the CodeNEXT website have been updated to reflect the new affordable unit set-aside requirements.