WPCNR COMMON COUNCIL CHRONICLE-EXAMINER. By John F. Bailey. August 2, 2005:  At approximately 11:45 P.M. Monday evening, the Common Council adopted an Affordable Home Ownership Program that increases the amounts prospective developers of future condominium projects pay as a fees in lieu of making "affordable units" available in their condo projects. The program  extends the life of 6% of  affordable rental units in apartments and mixed residences to twenty years with a twenty-year renewable option at the discretion of the Common Council and retains the 6% of units requirement.  

The fees in lieu for prospective condominium developers are $30,000 for a Studio, $67,000 for a One Bedroom, $115,000 for a Two Bedroom and $155,000 for a Three Bedroom, and the mix of the 6% of the units will be determined in consultation with the developer with the Common Council having final approval. 

JPI, developers of the Jefferson, for example, in a project the subject of a public hearing earlier in the evening will pay a $1,312,000 ( $115,000 each for 5 -2BR units, $67,000 for 11 1-BR Units), if their application to change their development to a condominium is approved. Other projects now subject to these provisions are, WPCNR believes, are the Maple and Hale Avenue Condos.

The legislation offers condominium developers will an array of three other "in lieu options: "  

1. Acquiring ownership of rental units and renting such apartments undter the city's Affordable Rental Housing Program.

2.) Contributing land in the multi-family residential districts in the city, or money for the acquisition of land for the construction of rental or ownership housing, or

3.) contributing to the cost of conzstruction of housing affordable to families at the assistance levels.

4.) Making condominium units available for sale

The income levels of families eligible to rent "affordable rental units" or to qualify for affordable housing assistance are households with incomes at or below either 100%, 80% or 60% of median family income based on family size, "as approved by the Common Council." Loans to families will be made from  developer contributions "in lieu of building units" on a sliding scale, with interest rates to be determined by the Common Council.  The program is under the supervision of the Commissioner of Planning