PRESENTATION
Mandatory Inclusionary Housing for 31-17 12th Street development
1:38:18
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29 sec
The proposed development will comply with Mandatory Inclusionary Housing (MIH) Option 1, providing a significant amount of affordable housing within the project. This will contribute to the city's goals of increasing affordable housing stock.
- 25% of floor area dedicated to affordable housing (approximately 9 units and 6,629 square feet)
- Three income bands averaging 60% of Area Median Income (AMI)
- Minimum of 10% of units at 40% AMI
- Maximum income band of 130% AMI
Frank Chaney
1:38:18
The subject to the MIH option, 1, the building will have 25% affordable floor area, because since the count of approximately 9 dwelling units and approximately 6629 square feet, it will have a maximum of 3 income bands averaging 60 percent AMI with a minimum 10% at 40 percent AMI.
1:38:42
The maximum income band is 130 percent AMI.
1:38:46
Next slide, please.
