Where eligible under applicable state laws and when consistent with the city’s TIF policy, the city may, upon a showing of demonstrated need, consider the use of a housing TIF district as a way to incentivize the creation of housing developments that are affordable at a minimum 20% of units which include a mix of opportunity housing units affordable to households at or below 60% of AMI. TIF will only be used proportionately in exchange for more affordable units or a greater level of affordability or both, and will not be used to finance market rate projects.
(Ord. 2019-16, passed 2-25-2019; Ord. 2019-30, passed 8-5-2019)