Urban Land Institute presents affordable, mixed housing recommendations
Members of the City’s Housing Committee have received the Urban Land Institute (ULI) final report on expansion of affordable and mixed-income housing in the City of Dallas. Their recommendations include creating a permanent dedicated revenue source for affordable and mixed-income development.
ULI suggests Dallas create a “housing trust fund” to receive and allocate new sources of revenue for affordable and mixed-income housing development and preservation and establish incentive-based inclusionary housing.
The panel also recommended that the City work to incentivize and ensure developers proposing new residential and mixed-use development include a specific percentage of affordable units; that they provide those units at another opportunity-rich location; or that they pay “in lieu” into the housing trust fund.
State Law allows governments to sell land below-market price if it serves a public purpose such as affordable housing. ULI said Dallas should take advantage of this legal authority to work with the development community on affordable and mixed-income development opportunities.
Other ULI recommendations are that the City make clear that developments supported by its Tax Increment Financing program, current and future GO bond proceeds, proposed housing trust funds, and the proposed inclusionary housing program must accept residents who receive public rental assistance.
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