Friday, May 28, 2021

Strategies for Affordable Housing Production ** 2021 Town of Franklin - Housing Production Plan - Public Review Draft **

Strategies for Affordable Housing Production
Section 3 of this Housing Production Plan (HPP) includes a substantial number of Implementation Strategies, which for the most part are ways to incentivize the creation of affordable housing. The Implementation Strategies section provides an explanation of the specific strategies the Town will achieve its housing production goals. In addition, Section 3 provides a description of Regulatory and Funding Incentives that can be used to stimulate affordable housing or other desired development projects.
Strategies include, but are not limited to the following:
  • Amendment of zoning regulations in order to increase the likelihood of creating Subsidized Housing Inventory (SHI) eligible housing developments
  • Use an incentivized Inclusive Zoning bylaw to attract SHI unit developments.
  • Utilize Workforce Housing Special Tax Assessments (WH-STA’s), multi-year property tax exemption, as incentive to create middle-income housing.
  • Perform an extensive assessment of the Town of Franklin Zoning Bylaw, Chapter 185 of Franklin Town Code. Specific attention will be shown to housing density, creating zoning related development incentives, assessing parking requirements, and other Zoning best practices.
  • Advance projects under the Local Initiative Program to create the type and level of affordable housing best for the community.
  • Consider creating a density bonus incentive program that allow more units of housing to be built than would be allowed under current zoning regulations, in exchange for a developer’s provision of affordable housing units or other public good.
  • Actively engage with developers to further incentivize SHI development.
Plan Implementation
The HPP’s implementation will require the commitment of a variety of organizations and individuals, including non-profit organizations, state agencies, resident volunteers, and Town departments, boards, commissions, and committees. Through the combined efforts of all parties mentioned above the Town will implement the goals outlined in Section over a five-year implementation period. Department of Planning and Community Development  (DPCD) will provide an update the HPP implementation on a biennial basis, or as requested by the Town Administrator.


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