Report a Comment

@Trulee - Re. Hine PUD - this is exempt due to it being a PUD, but follows the basics of IZ by including essentially IZ units in the market rate South building -- 12 units affordable at 80% AMI. Additionally, because the project is a public land disposition, the city required far more affordable housing in the project. This is what the North building is -- a 100% affordable building with 29 units affordable at 60% AMI, and 5 units at 30% AMI. The project overall has 29% affordability. The very low and extremely low income units provided in the north building are subsidized by low income housing tax credits, along with the public land value discount. Tax credit deals tend to be 100% affordable because they are far easier to finance this way. Offering very affordable new, accessible housing in this highly desirable location is a great example of fostering a mixed income neighborhood. The north building is not isolated or put under a freeway, it's right in the middle of things. As for IZ - the project conforms to IZ with the 12 80% AMI units in the south building. See my testimony on Hine here: http://bit.ly/LOFBdF

by Cheryl Cort on Jul 13, 2012 11:34 am • link • report