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CC:HA - (1) Discussion of Options for New Affordable Housing Programs and Incentives; (2) Adoption of a Resolution Adopting the Affordable Housing Incentive Area (AHIA) Program; and (3) Direction to City Manager/Executive Director as Deemed Appropriate.
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Contact Person/Dept: Sol Blumenfeld/CDD
Phone Number: 310-253-5761
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No []
Public Hearing: [] Action Item: [X] Attachments: Yes [X] No []
Commission Action Required: Yes [] No [X] Date:
Commission Name:
Public Notification: (E-Mail) Meetings and Agendas - City Council (03/24/16)
Department Approval: Sol Blumenfeld, Director of Community Development (03/23/16)
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RECOMMENDATION
Staff recommends the City Council (1) discuss options for new affordable housing programs and incentives; (2) adopt the proposed resolution adopting the Affordable Housing Incentive Area (AHIA) Program; and (3) provide direction to the City Manager as deemed appropriate.
Staff recommends the Housing Authority Board (1) discuss options for new affordable housing programs and incentives; and (2) provide direction to the Executive Director as deemed appropriate.
BACKGROUND:
In the City, there are approximately 45,340 employees and only 16,958 housing units, which indicates the potential need for a significant number of additional housing units in order to satisfy the housing needs of employees working in the City, who may want to live in the City in which they work. Culver City's jobs to housing balance, according to the Housing Element (2013-2021), indicates that the current jobs to housing ratio in Culver City is 2.67. This imbalance exacerbates housing costs which reflect market demand for housing.
The California Department of Housing and Community Development (HCD) 2015 median inco...
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