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11/18/2019 <br />FollowingBestPractices:/w!͸ƭareatoolusedinmany <br />FollowingBestPractices:CityofColumbus&CityofSeattleTaxAbatementPrograms <br />citiesintheCountytosubsidizedevelopment.Noother <br />Columbus <br />•Abatementonstructure&accessorystructuresonly <br />/w!͸ƭincorporateaffordablehousing. <br />•Affordableandmarketrateunitsmustbecomparable(nolowerqualitymaterialsorseparate <br />entrancesforaffordableunits) <br />•Examplecities:ClevelandHeights,ShakerHeights,Euclid,Cleveland, <br />•ComplianceMonitoring <br />Parma,Westlake,Strongsville,WarrensvilleHeights <br />•Incorporateinspectionsofthephysicalstructureduringabatementperiod(exterior& <br />interior) <br />•Annualrentrollfromdeveloper/propertymanager <br />•NoothercommunityintheCountyhasanaffordabilitycomponent <br />•AnnualincomecalculationsretainedbypropertymanagerandreviewedbyCity <br />includedinaCRA <br />Seattle <br />•2025%ofunitsarerequiredtobeincomeandrentrestricted <br />•Widerrangeofincomecoveredunderordinancebasedon{ĻğƷƷƌĻ͸ƭhighAMI <br />•Utilityallowancesrequired <br />•Lengthofabatementistypically15years <br />Sources <br />Seattle:https://www.bellwetherhousing.org&http://www.seattle.gov/housing/housing <br />developers/multifamilytaxexemption#resources <br />Columbus:MichelleCastrogiovanni,CityofColumbus& <br />https://www.columbus.gov/development/housingdivision/ResidentialTaxIncentives_M/ <br />VibrantNEO2040:NortheastOhioSustainable <br />CommunitiesConsortiumInitiative <br />5 <br /> <br />