At their upcoming August 8th meeting, the Haverhill City Council will consider the framework for a proposed inclusionary zoning ordinance.
City Councilors will discuss the following:
Project size threshold and required percentage of units that are affordable
Depth of the minimum affordability requirement (what percentage AMI for the deed restricted affordable units)
Whether or not to include an In-lieu of payment option, and how to calculate the in-lieu of payment
What nearby or comparable communities’ inclusionary zoning ordinances look like
The current draft set before the Council would apply to multi-family developments with 10 or more units and require 10% of the units to be affordable at 80% Area Median Income (AMI). In addition, there is an in-lieu of payment option calculated using the Affordability Gap Approach (the difference between the market rate price and the affordable price of a unit).
