Title
Affordable Housing Study Session Follow-Up and Modifications to the BMR Program.
Recommended Action
1. Confirm that the summary of the September 12, 2017 affordable housing Study Session accurately captures Council input;
2. Identify any priority items as a result of the Study Session that should be added to the current work plan, and any items on the current work program that would need to be reprioritized in order to free up resources to work on newly identified priorities;
3. Provide direction on an immediate modification to the City’s Below-Market-Rate (BMR) Affordable Housing Program by increasing the current 10 percent affordable housing requirement to 15 percent, by modifying the existing BMR rental in-lieu provision, and by including a flexible alternative mitigation provision; and
4. Provide direction on a longer-term process to modify the overall BMR Program, including, but not limited to, the items identified during the Study Session.