Plan Commission Final Changes
My best summary of the changes from last night's plan commission meeting are as follows:
Provides for the "offsets" to be off by plus or minus 5%. i.e. not 100% offsetting to account for the pragmatic realities of development.
Changes the language regarding a density bonus to ensure that all plans are taken into consideration when this section is used.
Changes the "bump out" period. Units can't bump out until after 180 days after the first market rate unit is sold and there is a model available for walkthrough (virtual would be allowed). After 180 days, the units can only bump out proportional to the number of market rate units sold. If the unit bumps out, the amount of additional income over the price of the IZ unit is split 50/50 with the City of Madison.
Removed the ability of the CDA to purchase units and rent them.
Deals with the effective date of the ordinance.
A mocked up version can be obtained from me by emailing me at brendakonkel@yahoo.com. I'm quite busy with work today, but I'll try to get it to you as soon as I can.
Provides for the "offsets" to be off by plus or minus 5%. i.e. not 100% offsetting to account for the pragmatic realities of development.
Changes the language regarding a density bonus to ensure that all plans are taken into consideration when this section is used.
Changes the "bump out" period. Units can't bump out until after 180 days after the first market rate unit is sold and there is a model available for walkthrough (virtual would be allowed). After 180 days, the units can only bump out proportional to the number of market rate units sold. If the unit bumps out, the amount of additional income over the price of the IZ unit is split 50/50 with the City of Madison.
Removed the ability of the CDA to purchase units and rent them.
Deals with the effective date of the ordinance.
A mocked up version can be obtained from me by emailing me at brendakonkel@yahoo.com. I'm quite busy with work today, but I'll try to get it to you as soon as I can.
posted by Brenda Konkel at 6:02 AM
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