RICHWOOD, Ky. — A Boone County zone-change request could lead to what the Louisville-based developer calls “true affordable housing” for people who are employed as teachers, firefighters, or entry-level workers.
LDG Multifamily is behind the proposed development, which is intended for people with incomes between $44,000 and $62,000 for a one-person household.
“This is true affordable,” said Brett Budd, a development manager for LDG. “Our residents would be families with an average income of 60% and that includes certain professions such as teachers, firefighters, nurses, police officers and entry-level workers.”
Kentucky’s Low Income Housing Tax Credit program provides tax benefits to private developers who agree to provide qualifying households with affordable rental housing with incomes below 60% of the Area Median Income.
Prospective tenants must have incomes at or below 60% of the area median income, but rent limits are generally set at not more than 30% of the tenant’s income to ensure affordability.
LDG requested the zone change, which would allow for a multi-family development, and the Boone County Fiscal Court conducted a first reading of the zoning map amendment on Nov. 19. The ordinance would change the designation of a 19-acre plot of land near Walton from Suburban Residential One to Urban Residential Two. The Boone County Planning Commission voted to recommend approval of the zone change request at an October meeting.
If passed, the zone change would allow for a 312-unit multi-family residential development in the Richwood area with several onsite amenities, including a swimming pool, dog park, playground and clubhouse with a business center, fitness center and resident services room with a common area and kitchen. The units would be spread across 12 multifamily buildings.
“The planning commission is recommending approval by a vote of 12 to one on the basis that the proposed zoning map amendment and submitted concept plan is generally consistent with the demographics and land use plan elements of the comprehensive plan, specifying the need for additional affordable housing,” Zoning Administrator Michael Schwartz said.
The site is sandwiched between I-75 and Dixie Highway in southern Boone County. It’s bordered to the north by Deer Trace Pointe Mobile Home Park and several commercial and industrial developments to the south. According to Boone County property records, the Joyce Robinson Foundation owns the land.
LDG Multifamily specializes in affordable apartment complexes. The company hasn’t developed any complexes in Northern Kentucky, but it has done numerous projects in Louisville and Lexington.
During a prior planning commission meeting, Schwartz said a Boone County resident opposed the development because he did not want Section 8 housing to be built on the site.
At the fiscal court meeting on Tuesday, Budd refuted the resident’s characterization, saying that residents and the development’s potential renters would need to be above the Section 8 income qualification.
Brian Dunham, an attorney at Fort Mitchell-based Dunham Law representing LDG on the project, said the site was ideal for workforce housing due to its proximity to neighboring commercial and industrial businesses.
“These are people who are not unemployed; these are not criminals,” Dunham said. “These are people who have lower-wage jobs and need a bit of help to get a nice place to live.”
The next step for the zone change request is for the fiscal court to conduct a second reading of the ordinance. The fiscal court gets the final say on all zone change requests in Boone County.
This story originally appeared on our partner's website LINK nky.
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