ITEM TITLE:
#22-40 - Amending the Housing Incentive Plan and Rescinding Resolution #22-18
SUBMITTED BY: Mark Detter, City Manager
FISCAL NOTES:
Expenditure Required: N/A
Unencumbered Balance: N/A
Funding Source: N/A
RECOMMENDATION:
Approve amended Housing Incentive Plan and rescinding resolution #22-18 previously adopting the plan.
SUMMARY STATEMENT:
The City Council directed staff to prepare an amendment to the Housing Incentive Plan allowing permitted new residential building projects under construction as March 16, 2022 to be eligible for participation in the Housing Incentive Plan. No completed residential building projects shall be eligible for the Housing Incentive Plan.
Additionally, since there was no consensus to include a requirement that the property must remain a residential dwelling unit for a minimum of 5 years, this provision has not been included in the amended housing incentive plan.
Resolution #22-18 previously adopting the Housing Incentive Plan is hereby rescinded.