City Policy Designed to Create More Affordable Housing
Mayor Ginther and City Council Announce Major
Changes to City’s Residential Tax Incentive Policy
[COLUMBUS-OH] A vision that reimagines planning and development in Columbus is
on the horizon. Mayor Andrew J. Ginther and Columbus City Council announced
historic changes to a decades-long residential tax incentive policy.
Today,
Tuesday, July 17, 2018, during a joint press conference held at the River &
Rich apartment construction site that is near completion, Mayor Ginther and
Council revealed new incentive policy that focus on creating more affordable
housing opportunities in Columbus neighborhoods.
In
2016, Mayor Andrew Ginther tasked the Department of Development to commission
the first-ever study to better understand the City’s use of both residential
and business incentives. The consulting firm HR&A presented recommendations
last summer.
“Based
on research and input from the community, we have put together a new policy
that will benefit neighborhoods and residents by spurring development of
affordable housing and living wages -- real and long-lasting changes for the
people of Columbus,” said Mayor Ginther.
Subsequently,
Councilmember Elizabeth Brown, then chair of the Development Committee,
convened five community and stakeholder meetings. Hundreds of residents gave
input to the Department of Development regarding their priorities for tax
incentives.
“No
two neighborhoods are exactly alike, which is why our new incentive policy will
reflect their different needs. The new policy will help us harness private
market energy into public benefit: smart growth, affordable housing and
good-paying jobs,” said Councilmember Brown.
The
new residential incentive policy makes significant changes to support
affordable, mixed-income neighborhoods in the City’s existing post-1994
Community Reinvestment Areas. Neighborhoods will be placed into one of three
categories based on the following criteria: population growth, median household
income growth, poverty rate, growth in median rent, housing vacancy rate and mortgage
foreclosure rate.
“As
chair of the Housing Committee, I am working diligently to increase access to
affordable housing and believe that the implementation of this policy is a
critical step,” said Councilmember Jaiza Page. “I look forward to working with
my Council colleagues to make this policy robust."
Council
will conduct a second tax incentive policy public hearing on Monday, July 23 at
3pm, in Council Chambers, 90 West Broad Street. The hearing is to discuss
proposed amendments to the legislation, based upon feedback received from the
initial meeting.
“This
historic change is only one step of many to move us towards a housing market
that works for all our residents,” said Columbus City Council President Shannon
Hardin. “At the end of the day in Columbus, if it’s not for all, then it’s not
for us.”
The
new policies will take effect summer 2018.
To
review the report and proposed changes visit https://www.columbus.gov/Development/
###