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C.The allowance of flexibility in densities for <br /> affordable housing. <br /> Within Indian River County, the future land use map and zoning district designations <br /> establish a maximum density or intensity for all properties. Overall, density is an <br /> important factor in forming the character of a community and the preferred lifestyle of its <br /> residents. While higher densities may result in lower housing costs, higher across the <br /> board densities do not always translate into lower housing prices. Consequently, the <br /> preferred method for reducing housing costs through increased density is to provide <br /> affordable housing density bonuses associated with affordable housing projects. <br /> Currently, Housing Policy 2.5 and LDR Section 911.14(4) provide affordable housing <br /> projects an up to a 20% density bonus over the maximum density established by the <br /> underlying land use designation. <br /> Currently, Housing Element Policy 2.5 and Section 911.14(4) of the LDRs provide for <br /> affordable housing density bonuses. Section 971.41(9) of the LDRs provides for small lot <br /> subdivisions for affordable housing. <br /> POLICY 2.5: The County shall maintain its affordable housing density bonus provision for planned <br /> development projects, allowing eligible affordable housing projects with a market value of affordable <br /> housing units not to exceed 2 1/2 times the county's median income, to receive up to a 20% density <br /> bonus based on the following table. <br /> Very Low <br /> Income <br /> (VLI)and <br /> Low Income Density <br /> (LI) Bonus Range of Possible <br /> Affordable (Percent Additional Density Bonus for Providing Additional Buffer Density Bonus <br /> Units increase and Landscaping based on one of the following options Percentage <br /> as in (percent increase in allowable units) (Percent increase in <br /> Percentage allowable allowable units) <br /> of units). <br /> Project's <br /> Total Units <br /> Option I Option II <br /> Material equal to a 20' Material equal to a 25' <br /> wide Type C buffer*with 6' wide Type B buffer*with 6' <br /> opaque feature along opaque feature along <br /> residential district residential district <br /> boundaries and 4'opaque boundaries and 4'opaque <br /> feature along roadways feature along roadways <br /> More than 10% 5%or 10% 10-20% <br /> 30% <br /> *Buffer types are identified in Chapter 926 of the county's Land Development <br /> Regulations <br /> The county's current median income is $54,700.00. <br /> F:\Community Development\SHIP\AHAC-Affordable Housing Advisory Committee(AHAC)\AHAC 2017\AHAC 2017 9 <br /> report.doc <br />