Laserfiche WebLink
Recommended Action Implementation Schedule2023-2028 <br />IMPLEMENTATION COST-TO-VALUE& SCHEDULE <br />202320242025202620272028 <br />The following tables examine the cost-to-value (investment expense matrix) of each recommended action <br />and provide a 5-year implementation schedule. As it relates to the cost-to-value, cost includes financial <br />On-Going <br />Support and Maintain Infrastructure <br />and/ or staff time and capacity meaning the higher the financial cost or higher the time commitment the <br />more expensive the action is to implement. Return on value is correlated to the perceived ability to <br />Continuously Evaluate Affordable Housing Programs <br />maintain or create new affordable housing opportunities in the community. A high return on value is <br />perceived to have a substantive impact on this goal. <br />On-Going <br />Advocacy <br />Investment Expense Matrix <br />Reexamine the tax abatement program <br />Simplify existing programs <br />On-Going <br />Maximize affordability period <br />On-Going <br />Examine and develop new programs <br />Educate <br />On-Going <br />Educate landlords on housing voucher programs <br />Homebuyer credit counseling and home ownership education <br />On-Going <br />programs <br />Support, Maintain, and Enhance Local Regulations & <br />Enforcement <br />Eliminate regulatory barriers to affordable housing <br />Comprehensively rewrite the Zoning Code <br />Maintain Housing Forward Initiative and Rental Housing License <br />On-Going <br />Program <br />Identify New Support & Opportunities <br />Coordinate with and support non-profit organizations to supplement <br />On-Going <br />and expand their efforts <br />Retain a commercial broker to monitor available properties that <br />On-Going <br />may be suitable for affordable housing <br />Regularly fund the Land Acquisition Fund to support property <br />On-Going <br />acquisition, development, and redevelopment of affordable housing <br />\[intentionally left blank\] <br />Adopt Affordable Housing Mandates (if conditions warrant <br />If Needed <br />implementation) <br />Develop New Programs for Residents and Businesses (if <br />If Needed <br />conditions warrant implementation) <br />This report memorializes the exploratory scenario planning process in Lakewood around affordable <br />housing. This document, developed with essential feedback and comments from affordable housing <br />experts and practitioners, provides an important touchstone as the city and other partners begin <br />implementing on the vision of ensuring there is quality affordable housing for all Lakewood residents now <br />and in the future. <br />2122 <br /> <br />