Milton Housing Production Plan Presentation

MILTON HOUSING PRODUCTION PLAN

Karen Sunnarborg, ConsultantWith technical support from William Clark, Town Planner

MILTON HOUSING PRODUCTION PLAN*


HOUSING GOALSMeet local housing needs along the full range of incomes, promoting social and economic diversity and stability.Leverage other public and private resources to the greatest extent possible.Insure that new housing creation is harmonious with the existing community.Strive to meet the 10% state standard for affordable housing.Provide a wide range of housing alternatives to meet diverse housing needs.Promote smart growth development.Preserve the existing affordable housing stock including its diversity of prices, building types and lot sizes.



WHAT IS AFFORDABLE HOUSING?Different programs have different criteria/for example rental versus ownership.40B definitionSubsidized development25% of units restricted to households at or below 80% of AMI ($61,000 for family of 3)Regulatory agreement monitoredAffirmative marketing but local preference for 70% of affordable unitsMILTON HOUSING PRODUCTION PLAN*


SUBSIDIZED HOUSING INVENTORY (SHI)Of Miltons 9,641 year-round, housing units, 426 units or 4.44% are considered affordable. Milton needs at least 538 more affordable units converted or produced to meet the state 10% target based on existing stock.Based on buildout projections, this total figure increases to more than 600 affordable units, based on current zoning, requiring of the projected new units be affordable.Can count 100% of all units in SHI for 40B rental developments, 25% for 40B homeownership projects.



WHAT IS HOUSING PRODUCTION?State regulations under Chapter 40B offer communities greater local control over affordable housing development.First step is getting Housing Plan approval from the state. Plan must include annual affordable housing production goals of 0.50% of the communitys year-round housing stock or 48 units for Milton.For each one-year or two-year goal met, the Town can apply for certification from the state that enables the ZBA to deny inappropriate Chapter 40B developments without the developers ability to appeal.MILTON HOUSING PRODUCTION PLAN*


HOUSING NEEDS ASSESSMENTSlowing population growth.Proportionately more children, fewer young adults and more seniors.More families.Growing income disparities with increases in median household income ($104,357) and poverty.Median household income of owners and renters was $119,420 and $27,853, respectively.Median income of renters decreased from $41,071 in 1999.Almost 1/5 of all households were earning less than $35,000 while more than half were earning above $100,000.





Chart1

9382

16434

18708

22395

26375

27190

25860

25725

26062

27003

Number of Residents

Population Growth, 1920 to 2010

Sheet1

19209,382

193016,434

194018,708

195022,395

196026,375

197027,190

198025,860

199025,725

200026,062

201027,003

Sheet2

Sheet3



Chart1

199020002010

573705583

179220872412

885419534

1038837537

173916671410

144216951864

84711281491

96312271675

2010 census

2000 census

1990 census

Number of Residents

Changes in Age Distribution: 1990 to 2010

Chart2

174516401544

487558556222

191013011779

345025331955

415542123422

257341554238

252421323686

449342344157

1990 Census

2000 Census

2010 Census

Number of Residents

Changes in Age Distribution: 1990 to 2010

Sheet1

199020002010

0 to 41,7451,6401,544

5 to 194,8755,8556,222

20 to 241,9101,3011,779

25 to 343,4502,5331,955

35 to 444,1554,2123,422

45 to 542,5734,1554,238

55 to 642,5242,1323,686

65 +4,4934,2344,157

Sheet2

Sheet3

HOUSING NEEDS ASSESSMENT (CONTINUED) The borrowing power of the average household, based on the towns median income of $104,357 is about $475,000.Median house price of $520,099 requires an income of about $110,000.The affordability gap is therefore $45,000, the difference between the median priced home and what a household earning at median income can afford. The addition of down payment and closing costs would increase this gap to at least $155,000.The gap increases to $212,000 for those earning 80% AMI.



HOUSING NEEDS ASSESSMENT (CONTINUED)There are very few if any homes on the market for less than $300,000.About 27% of Milton households were spending too much on their housing.Lowest rental listings for apartments in older homes ranged from $1,475 to $1,650.Rentals for houses ranged from $1,795 to $3,200 and condos ranged from $2,700 to $2,950.A $1,650 apartment requires an income of about $72,800 plus up-front cash of almost $5,000.



HOUSING STRATEGIES PLANNING AND REGULATORY REFORMPromote affordable housing through cluster zoningExplore adoption of 40R/40SPromote infill development on noncomplying lotsReduce parking requirements under specific circumstancesStreamline the permit approval process/Affordable Housing GuidelinesAmend accessory apartment bylawMILTON HOUSING PRODUCTION PLAN*


HOUSING STRATEGIES BUILD LOCAL CAPACITYConduct an educational campaignCapitalize the Affordable Housing Trust FundHire an Assistant Planner/in processApprove CPA



HOUSING STRATEGIES HOUSING PRODUCTIONContinue to promote mixed-use and transit-oriented developmentContinue to support adaptive reuseSupport scattered-site, infill housingMake Town-owned property available for affordable housingMILTON HOUSING PRODUCTION PLAN*


HOUSING STRATEGIES HOUSING PRESERVATIONMaintain affordability of SHIHelp qualifying residents access housing assistance



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Documents

Milton Housing Production Plan Presentation