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C.The allowance of flexibility in densities for affordable <br />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 important <br />factor in forming the character of a community and the preferred lifestyle of its residents. <br />While higher densities may result in lower housing costs, higher across-the-board densities, <br />do not always translate into lower housing prices. Consequently, the preferred method for <br />reducing housing costs through increased density is to provide affordable housing density <br />bonuses associated with affordable housing projects. Currently, Housing Policy 2.5 and <br />LDR Section 911.14(4) provide affordable housing projects with up to a 20% density bonus <br />over the maximum density established by the 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 I/2 times the county's mediate income, to receive up to a 20% density bonus <br />based on the following table. <br />Very Low <br />Income <br />(VLI) and <br />10 <br />Low Income <br />Density <br />(LI) <br />Bonus <br />Range of Possible <br />Affordable <br />(Percent <br />Addi .' ;I u* B r Providing Additional Buffer :. <br />, Density Bonus <br />Units <br />increase <br />and ng ne of the following options <br />Percentage <br />as <br />in <br />(Percentin units) <br />(Percent increase in <br />Percentage <br />allowable <br />allowable units) <br />Of <br />units). <br />Project's <br />Total <br />Units <br />Option I <br />Option II <br />Material equal to a 20' <br />Material equal to a 25' <br />wide Type C buffer* with 6' <br />wide Type B buffer* with 6' <br />opaque feature along <br />opaque feature along <br />residential district <br />residential district <br />boundaries and 4' opaque <br />boundaries and 4' opaque <br />feature along roadways <br />feature along roadways <br />More than <br />30% <br />10% <br />5% or <br />10% <br />10-20% <br />*Buffer types are identified in Chapter 926 of the county's Land Development Regulations <br />The county's current median income is $82,800 (per FHFA 04/01/2024). <br />The County's Affordable Housing Density Bonus Provisions are Codified in Section <br />911.14(4) of the LDRs (located at Municode. comb <br />10 45 <br />