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- Lack of supply in general- supply and demand is driving up the rental costs regionally as <br /> well as here in Lakewood. <br /> - We have several housing projects in various stages of process both with market <br /> rate and affordable housing components <br /> - Hopefully adding additional supply will help to re-balance the market and <br /> potentially decrease rents <br /> Questions: <br /> 1. What will these units do to the market? <br /> 2. Is it possible to complete a Comprehensive Housing Study determining how many units <br /> we have, their type, where the gaps are and how we as a community can respond by <br /> filling in the gaps through future planned projects? <br /> - For Example: <br /> - Can we create a comprehensive housing survey to identify the <br /> number of affordable housing units we are lacking to create a goal <br /> by which to measure success? <br /> - Use this survey to identify other housing needs like: <br /> - Accessible Housing <br /> - Multi-Generational Housing <br /> - Affordable Family Units <br /> - Affordable Senior Units <br /> Data: <br /> HUD Affordable Housing Interactive Map <br /> This link shows affordable housing opportunities in Lakewood <br /> https://resources.hud.gov/ <br /> Current Programs in Lakewood's Affordable Housing Plan for Investment Property <br /> -Rental Restoration Program ( City of Lakewood) which provides incentives to the landlord to <br /> offer affordable rents based on income and market rates for a period of 5 years. Through the <br /> program they have access to up to $10,000 per unit to make the unit lead safe along with other <br /> repairs and improvements. A percentage is forgiven each year they provide below market rent <br /> to low-moderate income tenants. <br /> -Gap financing for rental development projects using HOME funds (City of Lakewood) <br /> incorporating affordable units for low-moderate income households. <br />