Housing Developers in Portland who are building more than 10 units will soon be required to allot 10 percent of their housing units as affordable housing.
According to theforecaster.net, city councilors are set to hold public hearings on October 19, Monday, for voting on the possible changes in zoning policies which includes the "inclusionary zoning."
Last October 5, Planning & Urban Development Director Jeff Levine laid out all the possible reasons why "inclusionary zoning" is needed on their city. Levine has long been working on the efforts of providing more affordable housing units in the area and "keep the city population at 25 percent of the population of Cumberland County, and 20 percent of new housing at 80 percent of the area median income."
A report presented by Levine is also being studied as his report shows that there is a possible "gap of 24 percent to 33 percent in affordable housing units' construction compared to need by 2030."
He also added "It was not a policy statement there was a gap, it was an empirical statement."
The new policy requires the home developers to allot 10 percent of their housing units for affordable housing if they are going to construct more than 10 houses. This is to address the needs of families "earning between 100 percent and 120 percent of the area median income, which ranges between $62,000 and $77,000."
In a report by bangordailynews.com, if a home developer fails to set aside the 10 percent of their housing units, they will incur a fine of $100,000 per unit which will be added to the city housing trust fund. The funds will be used to finance construction costs for low- income housing units. However, some members of the planning board are concerned of imposing the said zoning.
Chamber spokesman Christopher O'Neil has given out a report containing 25 reasons as to why the "inclusionary zoning" is not compatible with the city's Comprehensive Plan. He also pointed out that the latter should be updated and that the city should use tax increment finance zone that matches the median income level in the city for affordable housing projects.
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