inherent tradeoff of development is indirect displacement, the project must be ready with anti-displacement strategies that respond to today’s housing market context.
Equity Goal
Goal Measurement
H-1
Clearly define affordable housing goals to inform the pursuit of affordable housing strategies and close the gap between perceived and actual affordability.
Assess affordability based on income ranges and the recommended 30% of
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annual income to identify affordable price points to communicate to developers for lease and sale opportunities. • Quantify percentage of residents in the project area eligible for public assistance (e.g. vouchers) to communicate the demand to developers. • Develop policies that set affordable and mixed income housing requirements for new developments in the project area. • Quantify the number of new residences that meet the calculated affordable price points. • Assess the existing communities’ housing type needs (e.g. percentage of households with children, multigenerational households, single-person households, adults 55+, and similar). • Quantify the percentage of home types needed to meet demand (e.g. no. of bedrooms, senior facilities, and similar).
H-2
Ensure new housing reflects the diversity of family types of local residents by aligning housing types to household needs.
Develop policies that set housing type requirements for new developments in the project area.
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H-3
Ensure opportunities for first-time home buyers to access residences in new developments.
• Develop policies that require developers to promote opportunities to buy in equity communities. • Identify existing/new resources/programs for financial literacy and down payment
assistance for income-qualified households and persons of color. Explore a community land trust exclusively for descendants to serve as trustees. Quantify the potential value of the trust.
H-4
Generate diverse housing opportunities for displaced residents of former neighborhoods and their descendants.
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• Explore a homeownership reparations program exclusively for descendants, funded by the new tax revenue generated by The Stitch.
H-5
Preserve existing affordable housing in the project area.
Identify and map existing affordable housing in the project area (e.g. buildings that allow vouchers, senior housing, and affordable market rate)
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C-13
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