092905 Agenda - AOG - Laserfiche WebLink

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Attachment 1.A Affordable Housing Policies /Requirements In Chapel Hill, Orange County, Hillsborough, and Carrboro Chapel Hill, Orange County, Hillsborough and Carrboro have each adopted policies and in some cases land use ordinance provisions that stimulate the production of affordable housing. This section summarizes and compares the various mechanisms adopted by each governmental unit. The definition of affordable housing differs from one jurisdiction to another and is the first item for comparison followed by a summary of policies and ordinance provisions. The final piece of information is a series of charts giving an across - the -board comparison of affordable housing throughout Orange County. AFFORDABLE HOUSING DEFINED ➢ The Town of Chapel Hill defines "affordable housing" under section 3.8.6.1 (Substitution of Affordable Housing for Floor Area Restrictions) of their Land Use Management Ordinance as: dwelling units shall be priced to be affordable to individuals and families who have incomes at or below eighty (80) per cent of the area median income for a family of four (4). Restrictive covenants shall be recorded with the dwelling unit(s) to ensure the continued and ongoing compliance with these requirements and shall be sold to individuals and families who have incomes at or below one hundred (100) per cent of the area median income by family size, and published periodically by the U.S. Department of Housing and Urban development. ➢ Orange County defines "affordable housing" through their criteria for density bonuses (Sec. 50 -164). o A 25% density bonus for duplex or multifamily units may be approved if: ■ A minimum of 40 percent of the units are to be rented to families earning less than 60 percent of the county median income, adjusted for family size, as determined by the U.S. Department of Housing and Urban Development (HUD), hereinafter to be referred to as "median income "; or ■ A minimum of 20 percent of the units are to be rented to families earning less than 50 percent of median income. • A 25 percent density bonus for single- family residential development may be approved if • the greater of two units or all of the bonus units are to be sold to families earning less than 80 percent of median income. • land with suitable soils or access to public water and sewer is donated to the county for the purpose of the development of affordable housing. • A 50 percent density bonus may be approved if at least 20 percent of the units are to be occupied by families earning less than 50 percent of median income and the remaining 80 percent of units are occupied by families earning less than 80 percent of median income. ➢ The Town of Hillsborough encourages affordable housing but has no formal definition or policy. ➢ The Town of Carrboro under Section 15 -182.4 (a)_of the Land Use Ordinance defines "affordable housing" as that which is offered for sale at a price that does not exceed two and a half times an amount equal to eighty percent of the annual median income level for a family of four in the Raleigh- Durham - Chapel Hill Metropolitan Statistical Area or is offered for rent at a monthly rate that does not exceed an amount equal to 12 percent of the monthly median income level for a family of four in the Raleigh- Durham - Chapel Hill Metropolitan Statistical Area 2 of 22