At the Dec. 5, 2023 briefing, the Board of Commissioners will hear options on a possible short-term rental conversion incentive. The possible incentive comes as one way to help grow the inventory of affordable rental housing options.
After reviewing similar programs across the country, commissioners will be presented with two options for discussion:
- Incentive for renting to households with vouchers (50% of area median income and below) to include a one-time, two-month application window. The criteria would follow voucher rules including a 12-month lease, voucher amount based on size, and more
- Incentive for renting to households earning between 51-80% of area median income to include a one-time, two-month application period. The criteria would be a 12-month lease, voucher amount based on unit size, and a cap of 30% of income.
If the Board opts to bring this forward, staff will develop a program proposal for consideration. View the briefing presentation here.