Alex Nunez
speaker
7,337 appearances
30 recordings
2 series
first heard Oct 2023
last heard 19 Aug
Alex Nunez’s voice in public audio — every appearance, attributed to the second.
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So we would just align with that, knowing that 55 years is always gonna be the floor.
What happens is usually around 55 years or sooner, a developer will re-syndicate their loan and come in.
At that time, we would extend it.
So often, fully affordable housing developments end up being affordable in perpetuity anyway because we just continue to extend the regulatory agreement.
Exactly.
Thank you.
Commissioner Pham.
I had a few questions.
First question had to do with the alternative compliance measures.
The ones that were listed to me are very different from each other.
So land dedication, off-site development, and acquisition and preservation of existing housing units.
Does staff have a sense of
what of the options would be more popular or likely to occur versus others?
I know it's hard to know, but I was just trying to understand a little bit about the context of why these three were chosen and how likely they would be.
I can take a shot at this.
I can tell you the trends that we've seen in the past year or two is that we have seen two alternative compliance measures with offsite development, at least two projects.
But in the past, the city has received a few land dedications also.
So introducing the acquisition preservation provides a path for developers to expand the portfolio of options, but so far those two have both been successfully used with most recently two off-site developments being popular.
Kind of has to do with
I recall in November, council had questions about timing of each of these alternative compliance measures because they're so different to me.
Showing 1641–1660 of 7,337 · page 83 of 367
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