Agenda - Council Work Session - 01/28/2014

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CC Work Session 2. 1. Meeting Date: 01/28/2014 Information Title: Review Current Draft of Housing Assistance Policy and Provide Feedback Prior to Final Draft Form Purpose/Background: The purpose of this Work Session Topic Report is to provide a first read of the draft Housing Assistance Policy to prepare for the final draft preparation. The City Council authorized the formation of an ad -hoc sub -committee of the Planning Commission to focus on the creation of a Housing Assistance policyto establish a framework in which to review requests for financial assistance (or other form of assistance) for housing projects. These requests could include, but are not limited to City financing options, third -party financing options, and grant opportunities available to the City. Given the number of requests the City has been receiving related to housing projects and the forecasted housing growth of the community, the City Council felt that a policy was necessary in order to ensure an equitable and fiscally responsible application to housing assistance. During the course of several meetings the sub -committee has reviewed the following: 1. Current Housing Plan, Goals, and Implementation Strategies 2. Current housing and population demographics (Census data) 3. Current housing and population forecasts (2030 Comprehensive Plan) 4. Current employment demographics 5. Current employment forecasts The sub -committee also has completed the following deliverables: 1. Framework of Policy 2. Interim Policy Statement 3. Housing Product Priority List The sub -committee agreed to a framework of the policy as follows: 1. Housing Product Priorities 2. Minimum Thresholds 3. Scoring Matrix Housing Product Priorities The first effort of the sub -committee was to establish housing product priorities. It is important to note that this priority list is an evolving document that would need to be reviewed and updated on a regular basis and was based on current demographic data (see attachment to this case). With every housing development that is completed, the assumptions that went into formulating this list change, and the list needs to be amended. When the City accomplishes a single housing goal, the priority likely shifts, at least in part, to a different priority. The Priority List is as follows: 1. Senior Independent 2. Affordable/Workforce 3. Redevelopment 4. Energy Efficient 5. Rehabilitation of Existing 6. Amenity Rental 7. 3+ Unit Rental 8. Accessory Dwelling Unit