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The Irvine City Council has adopted an enviable new Affordable Housing
strategy. They have created the Irvine Community Land Trust which will
allow permanently affordable housing. Monterey County should look at Irvine
as a model for creating and maintaining Affordable Housing. Community land
trusts are used to create permanent affordable housing. Read
the press release below:
FOR IMMEDIATE RELEASE
CONTACT: Judy Pal, Communications Mgr.
#06-03-15
Office: 949.724.6077
Mobile: 949.910.2731
Irvine Adopts Housing Strategy
Land Trust created to support affordable housing
IRVINE, CA (March 15, 2006): At the March 14 meeting of Irvine City
Council, a new housing strategy was approved. The plan calls for the
development of the Irvine Community Land Trust to create permanently
affordable housing in Irvine. When the former El Toro Marine Corps Air
Station was annexed, the City established a housing task force. It
recommended the City adopt a goal of 9,700 units of affordable housing by
2025 representing approximately 10% of the city’s housing stock.
“The creation of the Irvine Community Land Trust will facilitate the City’s
ability to continue providing a full spectrum of housing needs for our
residents,” said Mayor Beth Krom. “It will also help us address the
challenge of providing high-quality, affordable housing in perpetuity.”
A seven-member Board of Directors made up of two City representatives, three
members of local community organizations, and two members elected by the
eventual residents living in Trust units will oversee the Trust’s
activities. Mayor Beth Krom and Councilwoman Christina Shea have been
appointed to serve as the interim Board. The City Council will appoint all
seven members within the next 60 days.
Since its incorporation, Irvine has created affordable housing that is fully
integrated within the community. The City currently has 4,400 units of
affordable housing, 3,155 developed through its inclusionary housing
program, which requires 15% of all new housing to be affordable, and another
1,245 created through HUD-assisted projects in partnership with nonprofit
organizations.
Community land trusts are used to create permanent affordable housing.
Organized as separate 501c(3) public charities, these trusts obtain land
through acquisition or donation and then lease the land to developers to
create affordable housing. By maintaining ownership of the land, the trust
controls the price of housing built, so both rental and homeownership units
remain at affordable levels. They can also lease land for projects that
serve people with special housing needs. Community land trusts can also
negotiate with developers for deed restrictions and covenants on existing
affordable units that are at risk of losing their affordability. Many of
the past units created through Irvine’s inclusionary program are in this
category.
The City will have a projected $143 million in redevelopment housing
set-aside funds generated from the Orange County Great Park project area and
a projected equivalent of $125 million from in-lieu fees generated from its
inclusionary housing program to support this effort. The housing strategy
analysis predicts these resources will have to be leveraged with others to
meet the 9,700 unit goal.
Celebrating its 35th anniversary, the City of Irvine has a population of
more than 180,000, spans 65 square miles and is recognized as one of America
’s most successful master-planned urban communities. Top-rated educational
institutions, an enterprising business atmosphere, sound environmental
stewardship, respect for diversity and a commitment to community safety all
contribute to Irvine’s enviable quality of life. This family-friendly city
features more than 2,600 acres of parks, sports fields and dedicated open
space and is the future home of the Orange County Great Park – the first
great metropolitan park of the 21st century. For more information, please
visit www.ci.irvine.ca.us.
City of Irvine Public Information Office
1 Civic Center Plaza, Irvine, CA 92606
PHONE: (949) 724-6077 • FAX: (949) 724-6045
http://www.cityofirvine.org
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[Action and News Alerts Index]
Posted 03.16.06
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