The Herald reports that the Carrboro Board of Alermen discussed whether to allow a payment option for developers to meet their affordable housing obligation. We have debated this issue on the Chapel Hill Planning Board as well. So far we have come out against it every time, but there are also some compelling arguments for it.
Developers in Chapel Hill and Carrboro are currently required to include either a certain number of small (< 1,350 & 1,100 square feet) or affordable (<80% of area median income) homes in all residential developments over a certain size. Payment-in-lieu of housing would allow developers to make a financial contribution instead.
What do you all think? Are we missing a chance to support municipal housing efforts, or would we be letting them off the hook too easily and allowing further economic segregation of housing?
