TOWN OF EASTON, MARYLAND
Affordable Housing Workshop
May 11, 2004
Councilmember Maureen Scott-Taylor
Ms. Becky Sherblom, Mr. Jeff Griffith, Mr. Hamilton, the Town Planner, and Mr. Karge the Town Clerk were also present.
AFFORDABLE HOUSING
At 2:30 p.m., the President of the Council called the meeting to order.
Mr. Griffith discussed the agenda for the day. He stated that Ms. Sherblom will present models and they have received data from the Community survey and some from demographics from the Town then they will continue with the process and elaborate the goals and evaluate the models then agree on an upcoming agenda.
Mr. Griffith stated that the Assistant Town Attorney did not find any impediments in the Code or Charter for anything they want to do so far.
He discussed the outputs from last meeting on April 15.
Outputs: Easton Town Council Affordable Housing Work Session; 5/11/04
The Council agreed on the following agenda:
Ø Review Outputs of 4/29 session.
Ø Agree on agenda:
o Models;
o Data;
o Continue Brainstorming process;
§ Clarify/elaborate goals?
§ Develop decision-making tools?
Ø Next:
o Data needed?
o Models needed?
Inclusionary Zoning: Elements of Policy:
Ø Unit threshold? Developments of “X units or more” would be covered, what is “X”?
Ø Square foot Threshold?
Ø Residential and Commercial? [need documentation of impact/nexus]
Ø What level of set aside? How many lower-income units is developer required to do?
o How many units?
o What developer incentives as trade-off [if any]?
Ø Offsite options? Can he build the lower-income units elsewhere, not on-site?
Ø Fee In lieu? Can he buy his way out of the requirement? [use to fund housing trust?]
Ø Target? What population level do you want to have these units affordable to [area median income?]
Ø Length/term? Of the affordability requirement of these set-aside units
o Permanent affordability; which is the price plus the index?
o Profit sharing to recapture subsidy which will give you cash to spend somewhere else?
Ø Administration?
Inclusionary Zoning Ordinances from Selected Jurisdictions for Comparison of Requirements and Incentives were discussed.
The Council reached tentative/partial consensus on the following:
(Where there was not a single answer, we have noted the individual council answers as a series of five numbers or answers)
Threshold: Units; number: 10/5/20/5/10; includes new residential and commercial.
Set aside: 10% onsite
Offsite option: % set aside: The consensus was 15%. (Maybe offsite is higher unit percentage than onsite)
Fee in Lieu: Maybe
Incentives: beyond base: Yes; density: 15% rent and 1-1 own
Target: Stratified; own and rent; emphasize ownership: Yes
Length/Term: Own: Permanent: Yes [1 w/ stratified profit sharing]
Rent: Permanent: Yes
Housing Trust: Fee in Lieu-Yes [what about fractional units?]
Funding the Housing Trust:
Ø Fee in Lieu
Ø Permitting/other fees
Ø Transfer tax
Ø Profit sharing (on sale of unit)
Ø Equity partner w/owner
o Invest % of down payment
o Hold second mortgage
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To Do:
Who What When
Jeff Outputs COB 5/17
Becky Commercial Exactions? Next Meeting
Threshold?
Next Meeting: June 1, 2004; 5-7 pm.
Agenda: Evaluate Policy through vision and policy concerns of 4/15.
Parking Lot: Items to come back to in our discussion.
Ø When/whom do we benchmark (if at all)?
o Size? }Or do a
o Households? }strawperson?
o Wealth?
o Results?
Ø What are potential sources of revenue enhancements?
Ø What are the incentive options?
Ø How to balance AH with other Town needs??
ADJOURNMENT
There being no further business, at 6:28 p.m., upon unanimous consensus, the President of the Council adjourned the workshop meeting.
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Town Clerk