City of Longmont Affordable Housing Incentive ProgramTo qualify for the Incentive Program, developments must provide affordable housing units according to the criteria listed below.
Minimum Affordable Housing Requirements
a) 12% of the for-sale units must be affordable to households at or below 80% of the area median income (AMI), by selling for a price determined by the City, updated annually. Units must be kept affordable.
b) 12% of the rental units must be affordable to households at or below 60% of the Area Median Income (AMI), by renting for an amount determined by the City. Units must be kept affordable. Depending on the project’s agreement with the City, unit rents must follow one of two rental standards: CHFA or HOME. Please consult your agreement with the City to determine which rent standard your projects uses.
The following incentives are available:
Expedited Development Review Processing – A project timeline will be established between the City's Planning and Development Services Department and the developer/property owner.
Height/Density Bonuses – Up to 20% of increase in density/height over what is allowed per zoning code.
Fee Waivers – A percentage of certain development fees may be waived for qualifying projects. Reductions can range from 50% to 75% for for-sale units and from 20% to 50% for rental units.
Subsidy for Water/Sewer System Developments Fees – Projects that provide more than the minimum required affordability may qualify for a percentage of the fees to be subsidized (see below).
APPLICATIONS & GUIDELINES
- Housing Incentive Program Application and Guidelines for For-Sale Projects
- Housing Incentive Program Application and Guidelines for Rental Housing Projects