The Albuquerque City Council hereby makes the following findings:
(A) There is an insufficient supply of affordable housing in Albuquerque to meet the housing needs and demands of low-income residents, as documented in the report, Recommendations to Address Urgent Needs for Affordable Housing, May, 1997.
(B) The combined private, public and non-profit production of affordable housing would have to increase 2½ times to meet the five-year affordable housing goal established by the city, as documented in Recommendations to Address Urgent Needs for Affordable Housing.
(C) The community has a preference for mixed income development, rather than development of subdivisions solely comprised of affordable residential development. This preference has been established in open houses, comments submitted by neighborhood associations and the public and review of the public record on development proposals over the past decade.
(D) The increase in supply of affordable housing will benefit our city in the following ways:
(1) Residents wishing to buy homes they can afford will be able to purchase them in Albuquerque, rather than in communities outside Albuquerque. Short commutes between home, work and service destinations cause far less air pollution and congestion than the lengthy commutes of people who work and shop in Albuquerque but live elsewhere; thus, the community is taking action to preserve the quality of life, which is one of our greatest amenities. Moreover, the tax dollars of the home purchasers will support the city-provided services they use.
(2) An adequate supply of housing affordable for working families ensures that Albuquerque will be an attractive location for many businesses and industries, which require housing that is affordable to their work forces.
(3) An adequate supply of housing for working families ensures that the community has the essential physical resources to develop citizens who support themselves independently, propser and make significant contributions to the community.