The proposal, in its current form, is a voluntary program and will provide incentives for developers to include affordable units within new developments. The ordinance would apply to the Town of Mooresville, as well as the ETJ, and is the product of a multi-year Housing Needs Strategy developed by the Town.
Developments using the ordinance can obtain a by-right increase in zoning density without a Conditional Use Permit as long as the total number of additional units yielded by the increase are priced for residents earning between 50% and 100% of Area Median Income (AMI), currently around $43,000 for a family of four.
REBIC supports the proposal, and looks forward to working with the staff in the months ahead to review its effectiveness and make adjustments as necessary. We would like to praise the Town of Mooresville and the Commission for taking steps to encourage the construction of new, affordable housing, and working towards finding solutions to our regional workforce housing needs.