Business View Civil and Municipal | Volume 2, Issue 10

20 CIVIL AND MUNICIPAL VOLUME 2, ISSUE 10 Projects participating in the Community Benefits Program would also be required to replace any lost affordable units. The Community Benefits Program would also establish a funding mechanism to help preserve Downtown’s existing supply of affordable housing. For example, it would extend financial assistance to community-based organizations and other neighborhood groups in order to provide assistance with actions like establishing Community Land Trusts or extending expiring affordability covenants. The incentive structure of the Community Benefits Program addresses Downtown’s need for a range of housing options and price points, from market-rate dwellings to units for households that earn less than 15 percent of the local median income. By directing growth to transit-rich centers and channeling it into smart, sustainable infill development, the proposal for Downtown aims to build complete neighborhoods with mixed-income and affordable housing close to jobs, cultural institutions, and clean transportation. The draft proposal also encourages the construction of affordable housing by introducing a base and bonus system for floor area rights. Under the proposed plan, a project that exceeds the base floor area must provide residential units and set aside a specified number as covenanted affordable housing. It would also accommodate a variety of living situations, lifestyles, income levels, and age groups, permitting adaptive reuse in new parts of Downtown, creating options for live-work spaces, and providing a range of housing types. And by rezoning, the draft plan released in 2020 would nearly double the area where housing can be built: while only 33 percent of Downtown is currently zoned for housing, the proposal would permit housing in 60 percent of the Community Plan Area.