TITLE
Recommendation to adopt a Middle-Income Housing Program to include the policy components included herein. (Citywide)
DISCUSSION
Supply and access to adequate and affordable housing continues to be one of the biggest challenges both in the City of Long Beach (City) and across the State. Over the past several years the City Council has discussed this issue at great length and taken many actions to address the housing shortage, including creating policies and programs (Revenue Tools and Incentives for the Production of Affordable and Workforce Housing, Everyone Home Long Beach, Inclusionary Housing, Enhanced Density Bonus Ordinance), that provide opportunities to develop affordable housing in the City. On November 16, 2021, the City Council approved the Proposed 2021 - 2029 General Plan Housing Element, which demonstrates the City’s ability to accommodate the projected 26,502 housing units needed in the City during the next planning cycle (2021-2029). Almost 60 percent of these units are targeted toward affordable households, including approximately 16 percent designated for moderate/middle income households. Moderate income households are those households earning between 81 to 100 percent of the Area Median Income (AMI) and “middle-income” households earn between 101 percent and 120 percent of AMI. Housing affordable to households in these income segments is generally referred to as “workforce housing.”
Moderate/middle-income households are not served by housing vouchers or traditional restricted-income housing construction; however, the income levels of these working families often mean housing is unaffordable and difficult to find. As rents and housing prices continue to rise these households have found housing to be out of reach. Unaffordable rents typically result in either overpayment, overcrowding, or both. When households overpay or overcrowd in order to obtain housing there are strains on their health, wellness, financial, and overall stabili...
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