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19 <br /> 1 -Streetscape <br /> 2 -Public Spaces <br /> 3 Remove barriers to building Missing Middle Housing near light rail stations <br /> 4 <br /> 5 Affordable Housing <br /> 6 • Leverage new property values to fund affordable homes <br /> 7 • Incentivize landlords to rehabilitate and preserve affordable homes <br /> 8 • Remove regulatory barriers to housing and recalibrate density bonus programs <br /> 9 <br /> 10 The Power of Cross-Department Coordination <br /> 11 • We learned Patterson Place needs a sewer lift station to support greater density (Market <br /> 12 Study) <br /> 13 • The Lift Station acts as a catalyst for next round of development in station area <br /> 14 (Infrastructure) <br /> 15 • Zoning changes allow more intense development + new AH density bonus (Zoning) <br /> 16 • New Development yields tax revenue for community goals (Economic Development) <br /> 17 • Leadership allocates some of that revenue towards affordable housing/other community <br /> 18 goals (Community Priorities) <br /> 19 <br /> 20 Net New Tax Revenue By Jurisdiction (graph) <br /> 21 <br /> 22 Discussion <br /> 23 <br /> 24 A Conservative Market Study <br /> 25 • Triangle Region Has Grown 3% - 5% per year over past 30 years <br /> 26 • Durham / Chapel Hill has historically captured 20% — 25% of that growth <br /> 27 <br /> 28 A Conservative Market Study: Multifamily (graph) <br /> 29 <br /> 30 A Conservative Market Study: Office (graph) <br /> 31 <br /> 32 Final Thought: Paris & Chicago (picture) <br /> 33 <br /> 34 PUBLIC COMMENT: <br /> 35 Julie McClintock said she sent a letter to Board of County Commissioners earlier, the <br /> 36 main point of which is the importance of accurate information for the FTA, the Board, and the <br /> 37 public. She reviewed the letter, which highlighted concerns that have been raised regarding <br /> 38 growth projections. She said it is easy to be seduced by the prospect of 1360 acres that are <br /> 39 ripe for development, but many of the acres are on UNC property, and thus not-taxable. She <br /> 40 said many of the acres are in wetlands, and are undevelopable. She also noted that 15-501 is <br /> 41 three years away from gridlock, which she can back up with studies that have been completed. <br /> 42 She said in the last ten years of primary residential growth in Chapel Hill, the cost of town <br /> 43 government services has risen by an average of 3.7%, while property tax revenues only rose by <br /> 44 an average of 1.3%. <br /> 45 <br /> 46 Commissioner Bedford referred to the slide with the net new tax revenue by jurisdiction, <br /> 47 and asked if"net" could be defined. <br /> 48 Patrick McDonough said there is a baseline property value based on 2017 values, and a <br /> 49 "what if nothing happens" (the property gains in value, but does not redevelop over time), which <br />