47-2024 - Affordable Housing Nexus Study for Demolitions and Rebuilding

The City of Boulder is exploring the potential of creating an impact fee for residential demolitions and substantial rebuilding. The city’s Inclusionary Housing (IH) ordinance states that because remaining land appropriate for residential development within the city is limited, it is essential that a reasonable proportion of such land be developed into affordable housing units. This is particularly true because, in the absence of interventions, available land is often developed with large expensive housing, which both reduces opportunities for more affordable housing and contributes to a general rise in prices for all housing in the community. Therefore, the program only applies to “new” residential development. Replacing one older home with a newer home or making an addition does not utilize land in the city remaining for development. As a result, these scenarios cannot be addressed through the IH program.