Item 5- Equity Overlay CDC Update_ 02.06.25 — original pdf

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AAUUSSTTIINN EEQQUUIITTYY OOVVEERRLLAAYY SSTTUUDDYY Community Development Commission February 11th, 2025 APD Urban Planning and Management, LLC. 45OF PLANNING years45 years OF PLANNING EXPERIENCE EXPERIENCE APD-U established in 1990 • • Minority-owned, family-operated firm based in Atlanta, GA • • • • • Over 45 years of national expertise on neighborhood planning, housing development, affordability policies, and equitable community development Proven track record of success in the management of acquisition, housing strategies, and neighborhood redevelopment projects with a focus on sustainable place-based redevelopment The perspective of a developer and knowledge of community-based organizations Community capacity building training and expertise Displacement risk mitigation expertise 2 Scope • The City would like to “study the feasibility, merits, and risks of applying an equity/anti-displacement overlay and the impacts that such an overlay could have on affordability, displacement, and property values should the City modify the proposed standards by geographic area and lowest income census tracts.” • Our approach is built upon: • Displacement Risk Analysis • Community feedback • Program Recommendations and Implementation 3 Deliverables Phase 1: Community Outreach and Engagement Phase 2: Policy/Program Study and Analysis Phase 3: Risk of Displacement Phase 4: Final Report • • • • Meeting notes from stakeholder interviews Public Engagement Matrix categorizing expressed concerns Summary of engagement findings Community Engagement Report Memo • • • • Peer City review findings report Summary of regulatory policies’ feasibility Previous plans and studies matrix SWOT assessment of financial impact on homeowners and renters • Risk of Displacement Analysis Presentation • Potential Participants in an Equity Overlay Program • Related Map Series • Final report summarizing findings from Phases 1-3, providing recommendations of potential programs/policies limiting, or revising, HOME applicability in study areas we find to be experiencing active, vulnerable, or chronic displacement risk Ongoing Ongoing Early stages Upcoming 4 Preliminary Findings Community Engagement Concerns from community members and engaged stakeholders about lack of community engagement in HOME development Stakeholder interviews with range of Austin residents, community organizers, CDC Commissioners, and professionals on both sides of HOME discussion • • • • I S G N D N I F N • O I T N E V R E T N I - U D P A Policy/Program Study and Analysis Confusion from community members and engaged stakeholders on HOME and general planning landscape Displacement Risk • Lack of current data around HOME’s impact on displacement risk for homeowners and renters Previous plans analysis and peer city review seek to clearly define HOME’s role in Austin amongst other plans, developer incentives, and ordinances Feasibility analysis seeks to clarify what can be done with an Equity Overlay • Spatial data organization of demographics, homeowner exemptions, HOME permits, and other information provides up-to- date snapshot of displacement risk and HOME impacts on Austinites 5 Timeline Tasks TASK 0 - Ongoing Client Kick-Off Project Team Meetings (max 11) Advisory Committee Meetings (max 6) TASK 1 - Public Outreach + Engagement Public Meetings/Community Forums Stakeholder Interviews/Focus Groups (up to 10) TASK 2 - Policy/Program Study & Analysis Peer City Review Previous Plans/Studies Explore the feasibility of income-restricting Consult with the City of Austin Legal Staff Study the financial impact on homeowners and renters TASK 3 - Displacement Risk Analysis Spatial Organization of Data Demographic Analysis Homeowner Exemptions Analysis Demographic Risk of Displacement TASK 5 - Final Report and Presentation Draft Report & Presentation Final Plan and Adoption 4 Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 6 TTHHAANNKK YYOOUU!! Project Email: AustinOverlay@apdurban.com 7