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File #: 18-1120   
Type: Miscellaneous Item
In control: City Council A Session
On agenda: 1/11/2018
Posting Language: An Ordinance implementing a moratorium on administrative approvals of the Center City Housing Incentive Policy (CCHIP). [Lori Houston, Assistant City Manager; John Jacks, Director, Center City Development and Operations]
Attachments: 1. Draft Ordinance, 2. Ordinance 2018-01-11-0013, 3. CCHIP Moratorium_Council A Session revised
DEPARTMENT: Center City Development and Operations


DEPARTMENT HEAD: John Jacks


COUNCIL DISTRICTS IMPACTED: Citywide


SUBJECT:

Center City Housing Incentive Policy (CCHIP) Moratorium


SUMMARY:

This ordinance approves a temporary moratorium on administrative approvals of Center City Housing Incentive Policy (CCHIP) agreements.

BACKGROUND INFORMATION:

In 2012, following SA2020, City Council adopted the Center City Implementation Plan. The foundation of the Plan was "Housing First" and it established a goal of an additional 7,500 housing units in the downtown area by 2020. To reach the goal, the Plan recommended that the City establish a predictable incentive system for housing in the downtown area. Therefore, the City created the Center City Housing Incentive Policy (CCHIP) in 2012 to encourage high-density housing in the downtown area. In 2016, City Council extended the program to June 2018.

The City is currently at 89% of the goal that was established in 2012. There are currently 6,696 new housing units represented by 49 projects that are online, under construction or anticipated to break ground in the coming year. These projects represent a total investment of $1.4 billion and the City provided $126 million in fee waivers, tax rebates, loans, and grants.

Since 2010, CCDO has executed 88 incentive agreements that will ultimately facilitate 9,342housing units. The total private investment for these projects is $1.9 billion and the City provided $153 million in fee waivers, tax rebates, loans, and grants in support of the projects. This is a return of $12.31 in private investment for every public dollar invested in these projects. These projects are located within City Council Districts 1, 2, 3, 5, and 10 as outlined below.

Center City Incentives 2010-2017
Council District
Number of Projects
Housing Units
Incentives
Investment|1010|53
5,095
$108,579,901
$1,262,617,473|1010|20
1,378
$15,155,556
$212,485,592|101010|844
$5,573,201
$92...

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