There is only one item on the agenda for the Salida City Council work session tonight at 6:00 p.m., but it is a big topic: Kathryn Dunleavy of the Planning Department will present a review of the city’s Inclusionary Housing (IH) program, with updates on existing and forthcoming projects, as well as a look at Deed Restriction documents. The agenda packet and instructions for remote access can be found here.
The City passed its Inclusionary Housing Policy as Article XIII in Section 16 of its municipal code (Land Use and Development) in 2018, and revised it most recently in April 2022.
According to the policy, in general, any proposed development of five or more units, either for sale or for rent, is required to reserve 16.7 percent of the development as affordable housing units, or under certain conditions, satisfy IH requirements using one option, by paying a “fee-in-lieu” towards a housing fund for future affordable housing projects.
The prices of the affordable housing units for rent or sale are tied to a percentage of Area Median Income (AMI). Depending on the project, the percentage ranges from 30 percent to 160 percent of AMI.
Since the AMI is expected to increase this year because of inflation, the review will include a revised estimate of IH Sales and Rentals Maximums. According to staff, “a sizeable increase is possible.”