The zoning contains a minimum level of affordability. As John points out the town can, as it has in the past, negotiate higher levels of affordability. Oriole Landing at 25% is well above their zoning requirement of 15%.
The reason we can not mandate 15% affordable is because the study the town commissioned showed that to not be economically feasible. In practice what that means is that nothing will be built in the current economic environment if we mandate 15%; in other words if the entire financial burden is borne by the developer. If affordable units are a priority the town can subsidize those units as we have in the past or we could alter economics by relaxing height or other restrictions in return for more affordable units. One note when comparing developments and costs: interest rates and construction costs are substantially higher now than they were pre-pandemic. What worked then might or might not work now. Margaret On Fri, Nov 10, 2023 at 7:03 AM John Mendelson <johntmendel...@gmail.com> wrote: > This is not true. The HCA does not '"tie our hands." > > Just like many public/private partnerships across the country and > specifically here in Lincoln with Lincoln Woods, Oriole Landing, and > perhaps other developments I am not aware of, the town can work with a > potential developer to increase the percentage of affordable units, using a > range of funds available. > > John > > On Thu, Nov 9, 2023, 11:18 PM Sara Mattes <samat...@gmail.com> wrote: > >> The only reason I am“grappling” with the HCA is that is will tie our >> hands as to adding affordability -it, by its nature is exclusive. >> It restricts the amount of affordability we are allowed to require. >> And, if we tie up all the land around the station area, especially. The >> mall, with this zoning, we will be creating an expensive and exclusive >> enclave. >> >> How does that achieve goals of diversity and equity? >> >> >> >> ------ >> Sara Mattes >> >> >> >> >> On Nov 9, 2023, at 10:10 PM, John Mendelson <johntmendel...@gmail.com> >> wrote: >> >> http://www.growingwealthier.info >> >> How greater density *and* walkability benefits the environment and >> property values. >> >> John >> -- >> The LincolnTalk mailing list. >> To post, send mail to Lincoln@lincolntalk.org. >> Browse the archives at >> https://pairlist9.pair.net/mailman/private/lincoln/. >> Change your subscription settings at >> https://pairlist9.pair.net/mailman/listinfo/lincoln. >> >> >> -- > The LincolnTalk mailing list. > To post, send mail to Lincoln@lincolntalk.org. > Browse the archives at https://pairlist9.pair.net/mailman/private/lincoln/ > . > Change your subscription settings at > https://pairlist9.pair.net/mailman/listinfo/lincoln. > >
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