Salem Affordable Housing Trust Board Meeting
September 20th at 2:57pm.
The Salem Affordable Housing Trust held a Board Meeting on September 13th to discuss the Board’s priorities to address the need for more affordable housing in Salam. The priorities were broken into 4 categories: Higher Urgency-Higher Impact, Lower Urgency-Higher Impact, Higher Urgency-Lower Impact, and Lower Urgency-Lower Impact. Please see a summary of each priority (by category) below:
Higher Urgency-Higher Impact
- Adopt an Urban Center Housing Tax Increment Financing (UCH-TIF) or another tax incentive program to promote affordable and mixed-income housing development.
- Consider purchasing right of first refusal from current owners.
- Support Condominium Conversion ordinance (home-rule petition filed in 2022).
- Consider rent stabilization or anti-gauging programs for renters.
- Incentivize property owners to keep rents affordable by offering property tax abatements to owners who rent to low-and moderate-income households.
Lower Urgency-Higher Impact
- Consider rezoning options in transitional areas with accompanying considerations for transit to support denser development.
- Adopt zoning amendments to promote small efficiency units including Single Room Occupancy (SRO) housing.
- Investigate programs for displacement compensation for renters and homeowners.
- Investigate metrics to create Salem-specific capping of rent increases for local action units.
Higher Urgency-Lower Impact
- Study residential parking minimums.
- Study potential benefits of revising residential dimensional standards to better match development patterns.
Lower Impact-Lower Urgency
- Consider creating a permanent Housing Stabilization Office.
- Consider issuing municipal bonds and/or bonding Community Preservation Act funds for affordable housing production.
Priorities identified in the Salem Housing Roadmap to begin in 2023 include: Rent Stabilization programs, property tax abatements to owners who rent to low-and moderate-income households, rezoning in transitional neighborhoods, zoning amendments to support SROs, and bonding for affordable housing production.
Updates will be posted on the NSR blog.