Broomfield Implements Affordable Housing Ordinance
According to the Denver Post, the Broomfield City Council voted 8-1 in March in favor of an affordable housing ordinance that will require developers of residential units to make a cash in-lieu payment, a land-in-lieu contribution or to include affordable units in their projects. Rental development contributions are required to equal 20 percent of units, while for-sale contributions would equal 10 percent.
The ordinance addresses the findings of a housing needs assessment, shared with Council in April 2018 that found a gap of 1,286 affordable units in the city.
Read the full article here