Details

Title	Density Bonus Ordinance for S.M.A.R.T Housing
Highlights	There is implicit recognition that lengthy administrative processes discourage affordable housing development.   The city of Austin, Texas adopted a density bonus ordinance that expedites processing city applications in exchange for the inclusion of affordable housing.                       There is implicit recognition that excessive fees discourage affordable housing development.   The city of Austin, Texas adopted a density bonus ordinance that waives fees in exchange for the inclusion of affordable housing.                       There is implicit recognition that zoning ordinances do not support affordable housing development.   The city of Austin, Texas adopted an ordinance to provide incentives for affordable housing development.
Description	This ordinance was adopted by the city of Austin, Texas to provide incentives for affordable housing development. The ordinance requires that multifamily rental developments reserve 10 percent of units as affordable for a minimum of 40 years. In owner-occupied developments, five percent of units shall be reserved as affordable. The units must remain affordable for a period of 99 years. Additionally, the ordinance encourages affordable housing development in the central business district or the downtown mixed-use zoning district. Developers are offered incentives, such as fee waivers and expedited processing of city applications in exchange for the inclusion of affordable housing in five percent or more of the site’s gross floor area. The ordinance also allows developers to pay a fee to the Housing Assistance Fund instead of providing affordable housing.
Publication Date	2008
Organization	City of Austin, Texas
Web Location	http://www.ci.austin.tx.us/ahfc/downloads/density_bonus_ordinance_04_08.pdf

Notice: The contents of this record reflect the views of the author and/or promulgating municipality, and should not be construed as representing the views or policies of the U.S. Department of Housing and Urban Development or U.S. HUD's Office of Policy Development and Research. No attempt has been made by U.S. HUD or its contractors to verify the accuracy, currency, or validity of the record contents presented herein.