11-27-2018, 02:40 PM
(11-25-2018, 10:10 AM)dtkmelissa Wrote: I have heard talk of creating some sort of 'repair fund' that could exist that developers/landlords could access to fund the cost of repairs if damage occurs on subsidized units. That could in theory reduce their hesitations over renting to a particular group. I'd also love to see more subsidized housing tied to individuals/families rather than to 'units'. This could help ease transitions for those individuals when they need to move.
I would take this one step beyond: add an "affordable housing surcharge" to development fees and/or property taxes. A 10% development surcharge, for example, would add maybe $320 in development charges to a downtown apartment or condo, or $1100 to a suburban detached house. Developments that include at least 5% affordable/income-geared units would be exempt from the surcharge, and including at least 10% would provide a 10% discount instead. The revenues from the surcharge would be earmarked to damage repairs and any other affordable housing-related spending.
A 10% surcharge would not have a significant impact on buyers, but would provide a boost to the affordable housing budgets. And the surcharge/discount incentives would encourage inclusion of affordable units. (Whether 10% is the right number is left as an exercise for the reader.)