Economic Development Department

https://crescentcityca.portal.iworq.net/portalhome/crescentcityca

https://ccbusinessloan.com/

"Affordable" housing is generally defined as residential housing (rental or owner-occupied) for which the occupants pay no more than 30% of their gross income on housing costs, including utilities. The 30% rule is the standard benchmark used by HUD and policymakers, with variations, to ensure households have enough income for other necessities like food and healthcare. Affordable housing is typically offered to income levels ranging anywhere from acutely-low (15% of the area median income) all the way to moderate income levels or workforce housing (120% of the area median income). "Low-income" is considered anyone earning at or below 80% of the area median income.  

California Assembly Bill 2097 (AB 2097), effective January 1, 2023, prohibits public agencies from imposing minimum automobile parking requirements on residential, commercial, and other development projects located within one-half mile of major transit stops. It aims to reduce housing costs, encourage transit-oriented development, and lower pollution. Essentially, the State would rather have a shortage of parking than a shortage of housing. It is therefore unlawful for the City to impose parking requirements upon a development that has received a state waiver.

To run a successful grant funded first-time homebuyer program, there would need to be a significant number of "affordable" (by HUD standards) homes for low-to-moderate income households within the 2.4 mile radius that makes up the City limits. There would also need to be a significant number of sellers willing to jump through all the hoops that the grant funding requirements would require. City staff continues to monitor the existing conditions of the market and staff capacity for a future program.

No, the grant funding does not have anything to do with the parking waivers or density bonuses.