Bridging The Gap

Southwest Florida Regional Housing Needs Assessment and Strategic Document

BRIDGING THE GAP

Presentation Outline

What is the Community Housing Subcommittee?

Goals of the Community Housing Subcommittee

How did we get here? Solutions at the community level

What Is The Community Housing Subcommittee?

A collaboration of Regional and Local government along with interested resource parties created In February of 2005

Serves the community and region by helping people access affordable housing resources

A catalyst for the development of affordable housing programs and opportunities for very low, low, and moderate income families of Southwest Florida

Goals of the Community Housing Subcommittee

Draft legislation that requires affordable housing be classified as infrastructure in the Growth Management Plans and meets measurable outcomes;

Provide resource persons for outreach to local government;

Host regional meetings to assess and discuss affordable housing in the region;

Catalogue success stories and share ideas on how to address the affordable housing need;

Goals of the Community Housing Subcommittee

Promote new methodologies that measure the regional supply and demand for affordable housing, particularly related to DRI;

Serve as a repository of information on affordable housing; and

Collaborate with local housing staff, elected officials and the Legislature to formulate new housing polices and recommendations.

What is Affordable Housing?

A variety of housing options for very low, low, and moderate income families

Typically a housing unit is considered affordable if it costs no more than 30% of the family’s monthly income

Examples include….

Rental Apartments

Condominiums

Single Family Homes

How Did We Get Here?

The Evolution of the Housing Shortage

Increase in Housing Costs &Household Income

0%10%20%30%40%50%60%

Household Income Housing Costs

Affordability Gap Developed Housing cost increase dramatically Wages remain fairly constant

The Cost of Housing

Sharp increases during 2004 in home prices and lack of growth in household incomes, making houses less affordable

Despite the continuous increase of permit activity in the past several years, affordably priced housing continues to decline

The Cost of Housing

High construction and land costs Increasingly complicated and expensive

regulatory environment Impact Fees Rising cost of services and infrastructure

What Does Affordable Mean

Sarasota (MSA) Median Family Income-$55,900– Affordable Home Price-$198,999– Median Home Price-$347,400

Collier (MSA) Median Family Income– Affordable-$225,343– Median Home Price- $500,800

The Cost of Housing

Average home prices in the region reach new highs in 2005

– Naples MSA - $491,400– Fort Myers – Cape Coral - $281,000 – Punta Gorda - $216,500– Sarasota - $336,800

Between 2004 and 2005, average home prices increased by approximately 32 percent across the Region

Who is affected by the housing shortage?

Why is Workforce Housing Needed?

Housing’s Connection to the Economy

Attracts/Retains Businesses

Attracts/Retains Workers

A Strong & Diverse Housing

InfrastructureIncreases

Spending in Community

Housing’s Connection to Quality of Life

A good jobs-housing balance is an important strategy for…

– decreasing commuting time and highway impacts– reducing pollution– increasing citizens’ connection to their community

Diverse neighborhoods make for healthy communities

Achieving an increase in affordable housing requires:

Increased educational outreach Community acceptance Partnerships with financial institutions, non-

profits, builders and government Promotion of “best practices”

Smart Growth development practices Legislative Regulatory

Does the Comprehensive

Plan…

Specifically refer to affordable, workforce housing as a priority?

Laying the groundwork for regulatory strategies

Zoning and land use regulations influence:

Patterns of development Lot Sizes Density Street right of way and Pavement width reductions Parking space allotment

Type and size of housing product Setbacks and Footprint restrictions

Mixture of uses allowed Conventional Zoning Districts PUD’s Accessory Apartments

Zoning and land use regulations influence:

Developer costs Permit Fees Impact Fees

Permit by Right Administrative Approvals Vs. Public Hearing Take the Politics out of it!

Other ways for municipalities to increase affordable housing opportunities

Resale restrictions Inclusionary zoning Streamline permitting/review process Encourage non-profit housing developers Donate municipally-owned land Create a Housing Trust Fund

Innovative Solutions in Other States

Regional Infrastructure Fees Linkage Fees Inclusionary Housing Historic Preservation Tax Credit Redevelopment Programs Density Bonus Urban Growth Boundaries

Innovative Solutions in Other States

Market-Based Responses: Housing Trust Funds Employer Housing Partnership

Property-Based Responses: Resale Restrictions Equity Sharing for longer term tenants

What’s the Downside?

Decline in the Quality of Life Out Migration

Residents Companies/Employers

Loss of diversity Loss of job growth Increase in homelessness and social service

needs Impacts Road Capacities

Questions?

……and thank you!and thank you!