Housing trust funds (HTF) can support construction or rehabilitation of owner or renter homes, including creating Accessory Dwelling Units. HTFs can be used to encourage young families to move in and renovate homes through grants, low-interest loans, or loan forgiveness over time.
Requires housing units torn down by developers to be replaced with a specified percentage of new housing units to maintain housing stock within a community. In some areas developers have the option of paying a fee in lieu of constructing new housing units, which may be placed in a housing trust fund.
Cluster developments are a permitted use in which density regulations are determined for an entire specified area instead of a lot-by-lot basis, allowing more smaller units to be constructed in the area. Cluster development allows the developer greater flexibility in designing projects but preserves the overall density in an area. This can naturally encourage the construction of low-cost and therefore more affordable housing units. Municipalities can also require affordable housing to be developed as a condition of approval for adjusting density requirements.
Tools such as inclusionary zoning require developers to create housing that meets definitions of “affordable” by its rent or purchase price. Some municipalities additionally require long-term or perpetual affordability of the unit. Municipalities can ensure that the units remain accessible to future residents through stewardship by a housing trust and/or by setting rent or resale price restrictions.
Municipal planning ordinances that allow developers to increase the maximum allowable development on a property in exchange for making a certain percentage of the housing affordable. May be incorporated into inclusionary zoning requirements
Zoning bylaws that require unnecessarily large unit sizes can prevent developers from building smaller, more affordable housing units. Municipalities can adjust zoning requirements to allow for studios, or micro-units or compact units in some instances.
Zoning bylaws that require large minimum lot sizes (≥2 acres per dwelling unit) require developers to purchase more land for each unit and these costs are ultimately passed on to homebuyers or renters. Towns can promote the development of new affordable housing by changing their zoning bylaws so that less land is required for each lot.
Municipal planning ordinances that require or incentivize developers to set aside a certain percentage of affordable housing units for low and moderate-income residents.
