Inclusionary Housing in the City of Monrovia
The City of Monrovia is considering establishing standards that require new residential development projects to include dwelling units that are targeted for lower-income residents. To ensure the City has the necessary information to make an appropriate decision, the City of Monrovia has contracted Sagecrest Planning+Environmental to provide technical assistance to the City, which will include preparing an Economic Feasibility Analysis.
FREQUENTLY ASKED QUESTIONS
Q. What is inclusionary housing?
A. Inclusionary housing is when a portion of the newly built dwelling units within a housing project are required to be rented or sold to families with low to moderate incomes.
Q. What qualifies as low to moderate income?
A. When family income does not exceed 120% of the area median income. For Monrovia, this can include:
Q. What is considered affordable housing?
A. Affordable housing is generally defined as housing in which the occupant is paying no more than 30 percent of gross income for housing costs, including utilities.
Q. What kind of housing can be made affordable and included in inclusionary housing?
A. Affordable housing can be located in a variety of housing types including single-family, duplex, townhomes, condominiums, apartments, and mixed-use developments.
Q. Is inclusionary housing the same as a density bonus?
A. Inclusionary housing is a requirement to provide affordable units, where a density bonus is an incentive for providing affordable units. Density bonuses could include additional units or a relief to development standards. With or without an inclusionary housing ordinance, a housing developer would be allowed to apply for a density bonus.
Q. Why is this survey being done?
A. Your opinion matters. Your response could help the City determine the appropriate requirement for inclusionary housing in our community.