Developers Get OK to Pay Fee for Low-Cost Housing
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After months of public debate and pressure from the state to add affordable housing, the City Council has voted to adopt an ordinance that will give more flexibility to developers.
The council unanimously approved an ordinance that gives developers the option of paying a fee to the city to help fund housing for low- and moderate-income residents. Previously, developers were required to build a certain number of units for those residents as part of each development permit.
Developers will also receive hefty discounts on the fees if they opt to build in commercial areas or on vacant housing sites.
The council is expected to set the amount of the fees next week.
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