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Andrew Knudtsen, Vice President Economic & Planning Systems

Explore the role of commercial linkage impact fees in affordable housing strategies, from needs assessment to potential solutions, including case studies and policy tools. Learn about effective communities and economic development priorities in Telluride and Aurora.

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Andrew Knudtsen, Vice President Economic & Planning Systems

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  1. Affordable Housing Strategies The Role of Commercial Linkage Impact Fees Andrew Knudtsen, Vice President Economic & Planning Systems

  2. Methodology • Conduct Needs Assessment • Identify Gaps • Tenure • Income Level • Special Needs • Consider Potential Tools and Solutions • Define Role for Linkages and Affordable Housing Impact Fee Programs

  3. Motivation to Address Housing Needs • Address economic needs – expand the employment base • Maintain a full-service community • Recognize the full spectrum of household income and balance housing opportunities • Advance goals of helping lower-income households • Effective communities include all segments

  4. Town of Telluride

  5. Telluride Context • Community values • Environmental preservation • Affordable housing • Sense of community • Study driven by economics

  6. Telluride Goals • Maintain existing ratio of locally housed workers • Diversify affordable housing inventory – tenure, cost, household size

  7. Determination of Need • Analysis quantified existing deficits from future needs • Provided gap analysis by tenure and income

  8. City of Aurora • Population 300,000 • Households 104,000

  9. Aurora Context • SF sales prices -- $150,000 to $250,000 with market segments on both extremes • Original subarea – 45 % in pop. with 3% increase in housing units • New growth commands strong prices • Fiscal conditions driven by retail • Economic Development a key priority

  10. Projected Job Growth

  11. Commuting

  12. Spectrum of Need

  13. Potential Solutions • Wide Range of potential solutions • Incentive programs, Exactions, Production, Partnerships, Regulatory, Financial Opportunities • Evaluate Catch Up vs. Keep Up Strategies • Potential Local Policy Tools include: • Commercial Linkage • Residential Linkage • Inclusionary Zoning

  14. Commercial Linkage • Job Generation – Survey based data • Employee Generation – Industry standards • Employees Living within the region – Based on policy goal or ES202/ commuting analysis • Household Generation – Survey based data • Market Solutions – Gap analysis with comparison of household income to housing costs • Mitigation rate – Policy decision that balances housing and ED interests

  15. Case Study – Lower Roaring Fork, Colorado

  16. Fee-in-Lieu Option • Quantifies dollar equivalent of housing requirement • Determine number of employees generated • Apply mitigation rate • Identify the size of development (Sq. Ft.) required to house employees • Estimate cost of construction • Determine revenue from rents or sales (based on 30% of gross income adjusted by AMI) • Identify the funding gap

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