Why were smaller sites not considered?
Generally, smaller sites were not considered for a series of reasons: 1. Federal or state funding sources for non-profit housing developers are quite competitive, and these funds are reserved for larger development proposals, or are often targeted for a minimum density of units per acre (25 units per acre, for example). Larger subsidies are allocated to larger projects. 2. A for-profit developer might have similar private funding requirements, and might not consider a smaller site because of higher developments costs for a smaller site. 3. There is a higher cost for managing a smaller site, whether the site is developed by a profit or not-for-profit developer. 4. The City does not intend on developing any of the sites, and may not be able to participate financially, regardless of the size of the site. Staff is continuing to discuss with the state HCD if there is a minimum lot size that the state believes is feasible in order for affordable housing to be constructed.
