Title
Receive a presentation on the status and future of Chatham County’s obligations in the Affordable Housing Element of the Vickers Village development
Abstract
Introduction & Background: In 2021, Chatham County approved Compact Communities conditional zoning permissions for the land that will become the Vickers Village development. With these Compact Communities permissions came a commitment to provide a quantity of affordable home-ownership opportunities. This affordable housing inclusion has grown increasingly costly for the county based on current housing costs and market trends.
Discussion & Analysis: The Housing Department requests direction for the future of this project, whether to prepare to provide at least $1.74 million for 10 home-ownership opportunities, to accept a payment in lieu of units to pursue alternative housing opportunities, or to attempt to renegotiate the housing element.
How does this relate to the Comprehensive Plan: Comprehensive Plan Goal 9 calls for “equitable access to high-quality education, housing, and community options for all.” Decisions guiding the future provision of affordable housing can lay the groundwork for working Chatham County residents to access a variety of desirable housing opportunities and community options.
Budgetary Impact: Electing to continue with the existing Affordable Housing Element will cost at least $1.7 million. Choosing to accept a fee in lieu would yield $470,000 for other housing opportunities.
Recommendation/Motion: Provide direction on desired next steps regarding the Affordable Housing Element of the Vickers Village development.