Albemarle Supervisors discuss incentive package for housing
Last July, the Albemarle Board of Supervisors adopted a housing plan that seeks to increase the number of units guaranteed to be rented or sold below the market rate. Housing Albemarle was adopted without a system of incentives to developers to keep those prices lower than they otherwise would be. That came back to the Board on February 16.
Albemarle Housing Coordinator Stacy Pethia has suggested creation of an overlay district in the zoning code that would allow for reduced fees and other waivers in exchange for creating lower-priced units.
“We did engage with developers and we had four meetings with developers between June and October of last year,” Pethia said. “During the first two meetings, staff listened to developer concerns and discussed housing policy goals. Based on that feedback collected during those meetings and research into incentive programs implemented in localities within Virginia and across the country, staff developed a list of potential incentives that could be in a package.”
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