Agenda Item Name:
Title
American Rescue Plan State and Local Fiscal Recovery Funds for Inclusionary Housing Feasibility Study
End
Presenter:
Ben Chumley, Growth Management Department, (352) 374-5249
Description:
Request for approval of plan to use American Rescue Plan State and Local Fiscal Recovery Funds to reimburse the cost to the County associated with conducting the Inclusionary Housing Feasibility Study.
Recommended Action:
Recommended Action
Approve the attached plan for the use of American Rescue Plan State and Local Fiscal Recovery Funds to reimburse the cost to the County associated with conducting the Inclusionary Housing Feasibility Study.
End
Prior Board Motions:
December 13, 2022: The Board of County Commissioners approved a Scope of Work from Florida Housing Coalition in the amount of $50,000 to assist the County in conducting an Inclusionary Housing Feasibility Study. The Board approved a related budget amendment to utilize reserves to fund the Study with the understanding that the full cost of the Study ($50,000) will be reimbursed from American Rescue Plan State and Local Fiscal Recovery Funds.
Fiscal Consideration:
Fiscal Consideration
The Board approved a Scope of Work from Florida Housing Coalition in the amount of $50,000 to conduct the Inclusionary Housing Feasibility Study, and approved the attached budget amendment to utilize reserves to fund the Study with the understanding that the cost will be reimbursed from American Rescue Plan State and Local Fiscal Recovery Funds. The adoption of the attached recovery plan document is necessary to secure eligible use of ARPA funds for the purpose of the Inclusionary Housing Feasibility Study.
End
Strategic Guide:
Strategic Guide
Housing
End
Background:
Inclusionary housing is a local land use policy that is intended to increase the supply and dispersal of affordable housing throughout the community by requiring and/or incentivizing housing developers to include affordable units as part of new residential developments.
A mandatory inclusionary housing program would typically require a housing developer to designate a certain percentage of the total housing units in a development as affordable to certain income levels, or to pay a fee in lieu of constructing the affordable units. Local governments are required to provide incentives, such as bonus residential density, to fully offset all costs to the housing developer for providing such affordable housing units pursuant to Florida Statute Section 125.01055.
The Inclusionary Housing Feasibility Study is necessary to provide a data-based foundation for the potential establishment of an Inclusionary Housing program and to ensure that such a program would comply with the technical requirements of Section 125.01055, Florida Statutes. The Study would help determine the optimal levels for inclusionary requirements that can be accommodated comfortably in the local housing market given the costs, revenues and incentives available locally.
Work is underway by Florida Housing Coalition and County staff on the Inclusionary Housing Feasibility Study in accordance with the Scope of Work that was approved by the Board on December 13, 2022. Staff estimates that the Study will be at or near completion by the end of 2023. Upon completion, the Study and its recommendations will be presented to the Board of County Commissioners. Any follow-up implementation actions resulting from the Study, such as consideration of establishing a voluntary or mandatory Inclusionary Housing program, could be considered by the Board following the completion of the Study.