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New rules for residential and commercial developers ensures affordable housing in SLO

KEYT

SAN LUIS OBISPO, Calif.– The city of San Luis Obispo's new rules for residential and commercial buildings ensures affordable housing in the area.

Under the Inclusionary Housing Ordinance residential developers have the option to either build affordable housing or pay a fee to the city’s affordable housing fund, which is then used to help fund new affordable housing projects in SLO.  

This requires residential developers to include affordable housing units in marketplace price buildings creating socio-economic diverse communities and neighborhoods.

The new ordinance also established an impact fee for all commercial buildings including hotels, office, etc. that will go towards the city’s affordable housing fund. This safeguards the availability of affordable housing for those working in such businesses to live locally.

According to the city's announcement, "the Community Development Department now has a Housing Division team consisting of four full-time staff members and has partnered with a third-party Below Market Rate Housing Administrator, Housekeys, to make affordable housing opportunities more accessible."

Article Topic Follows: San Luis Obispo County
affordable housing
KEYT
san luis obispo county
Santa Barbara

Drew Ascione

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