ITEM TITLE:
#22-18 - Approving the Housing Incentive Plan for the Purpose of Constructing New Residential Dwelling Units, Including Commitment of $10,000 Per Dwelling Incentive Payment for Property Owners Complying with the Terms of the Plan
SUBMITTED BY: Mark Detter, City Manager
FISCAL NOTES:
Expenditure Required: N/A
Unencumbered Balance: N/A
Funding Source: N/A
RECOMMENDATION:
Approve Resolution #22-18 Adopting City of Valdez Housing Incentive Plan.
SUMMARY STATEMENT:
Mayor Scheidt, Council Member Devens and Council Member Moore met with the Assistant City Manager and City Manager to discuss tasks/goals for Economic Diversification Commission related to housing and downtown development. At the February 1, 2022 City Council meeting, council approved the goals/tasks for the commission to work on.
• Provide recommendation on housing incentive plan (current proposal rewards individuals $10,000 per new dwelling unit constructed upon issuance of Certificate of Occupancy). The incentive plan will require a recommendation for Council prior to 2nd Council meeting in March.
On February 16, 2022 the Economic Diversification Commission voted to complete the first of their three tasks. The Economic Diversification Commission is recommending to City Council the passing of the $10,000 incentive plan proposal. It was presented to the EDC and then revised with their recommendations and brought back for a vote and approved.
The Resolution recommends that the Economic Diversification Commission monitors the administration of the plan and make recommendations to Council on any future changes to the Housing Incentive Plan.