Board Of Aldermen - Agenda - 9/28/2021 - P36
POTENTIAL HOUSING TRUST FUNDING STRATEGIES
The proposed payment in lieu of partial inclusionary units detailed earlier in the report can create
some revenue for the City’s housing trust. However, the value differential between market rate and
80% of AMI is not substantial and the number of developments each year likely will be limited. To
this point, RKG Associates was asked to identify some other best practices for creating revenue
Board Of Aldermen - Agenda - 9/28/2021 - P35
INC WSIO NARY ZONING ANALYSIS 3 0
Table 15. 200-Unit Multifamily (Stick) Rental Development
No _ Inclusionary
Inclusionary 80%
Inclusionary 80%
AMI W/ Adjusted
Land Value and
Adjusted Land | AMI W/ Adjusted | Bonus Market
No Inclusionary Value Land Value Units
Location Downtown Downtown Downtown Downtown
Board Of Aldermen - Agenda - 9/28/2021 - P34
INC WSIO NARY ZONING ANALYSIS 2 9
Table 14. 200-Unit Multifamily (Stick) Rental Development
No _ Inclusionary
Inclusionary 80%
Inclusionary 80%
AMI W/ Adjusted
Land Value and
Adjusted Land | AMI W/ Adjusted | Bonus Market
No Inclusionary Value Land Value Units
Location Amherst/Exit 1 Amherst/Exit 1 Amherst/Exit 1 Amherst/Exit 1
Board Of Aldermen - Agenda - 9/28/2021 - P33
INC WSIO NARY ZONING ANALYSIS 2 8
200-UNIT MULTIFAMILY (STICK) RENTAL DEVELOPMENT
Board Of Aldermen - Agenda - 9/28/2021 - P32
INC WSIO NARY ZONING ANALYSIS 2 7
Table 13. 125-Unit Multifamily (Podium) Rental Development
No = Inclusionary
Inclusionary 80%
Inclusionary 80%
AMI W/ Adjusted
Land Value and
Adjusted Land | AMI W/ Adjusted | Bonus Market
No Inclusionary Value Land Value Units
Location Downtown Downtown Downtown Downtown
Board Of Aldermen - Agenda - 9/28/2021 - P31
INC WSIO NARY ZONING ANALYSIS 2 6
Table 12. 125-Unit Multifamily (Stick) Rental Development
No = Inclusionary
Inclusionary 80%
Inclusionary 80%
AMI W/ Adjusted
Land Value and
Adjusted Land | AMI W/ Adjusted | Bonus Market
No Inclusionary Value Land Value Units
Location Amherst/Exit 1 Amherst/Exit 1 Amherst/Exit 1 Amherst/Exit 1
Board Of Aldermen - Agenda - 9/28/2021 - P30
INC WSIO NARY ZONING ANALYSIS 2 5
125-UNIT MULTIFAMILY (STICK) RENTAL DEVELOPMENT
Board Of Aldermen - Agenda - 9/28/2021 - P29
Table 11. 50-Unit Townhome Ownership Development
INC WSIO NARY ZONING ANALYSIS 2 4
Inclusionary 80%
Board Of Aldermen - Agenda - 9/28/2021 - P28
INC WSIO NARY ZONING ANALYSIS 2 3
Table 10. 25-Unit Multifamily (Podium) Rental Development
No _Inclusionary
Inclusionary 80%
Inclusionary 80%
AMI W/ Adjusted
Land Value and
Adjusted Land | AMI W/ Adjusted | Bonus Market
No Inclusionary Value Land Value Units
Location Downtown Downtown Downtown Downtown