B-29 (C20-2021-006 - Vertical Mixed Use Affordability Requirements).pdf — original pdf

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CODE AMENDMENT REVIEW SHEET Amendment: C02-2021-006 Amending Title 25-2(E) 4.3 Vertical Mixed-Use Buildings Description: In response to adopted direction from both the Planning Commission and the City Council, amend certain provisions in City Code related to the voluntary density bonus known as the Vertical Mixed-Use (VMU) program. • Create a new tier in the VMU program that grants up to 30 feet of additional bonus height in exchange for Affordable Housing Community Benefits. • Prescribe and refine affordability requirements for developments that participate in the VMU program including set-aside rates, a fee in-lieu option for ownership developments, and general provisions to affirmatively further Fair Housing The draft ordinance, staff report, and additional research are attached. Staff Recommendation: Staff recommends approval of this amendment. This amendment is supported by adopted policy direction in the Austin Strategic Housing Blueprint as well as the Displacement Mitigation Strategy and the City of Austin’s Fair Housing Action Plan. Board and Commission Actions Code amendment initiated by the Planning Commission on July 27, 2021. City Council Action Resolution No. 20211118-052 initiated by the City Council on November 18, 2021. City Staff: Sam Tedford Email: sam.tedford@austintexas.gov 3/3/2022