Washington County Housing Study

I was totally unaware of this impending boodoogle....this

Washington County Next Generation Housing Initiative Summary

Was started when interest rates for housing was low.   They pretended that it was all about single family housing.   Now that interest rates are high, all of their original assumptions are blown out of the water.    Are we now going be forced into a Village of Germantown "process" in which we totally degrade our formerly fine village into disgusting developments like Jackson.    Our tax money is being used, $7.5M just for the study portion.   We were enticed into this by "free money" from American Rescue Plan Act of 2021 (a COVID era boondoogle) $2.5, but we had to pony up $7.5M.    Then VoGT hires a Chicago area firm to tell us what is best for us?   Seriously folks, this is where we are at, and it is being driven also by pretty tight deadlines, March 1 is one of them.

Do you want this for Germantown, I think we need 24 strong voices speaking at the next village meetings, and if you can't attend, send a letter and get someone to read it.   I do not know the process, I just got into this via Nextdoor.

 

 

 

 

Summary by AI

Washington County Next Generation Housing Initiative Summary

1. Background

• Fund: Washington County Next Generation Housing Fund - $10 million ($2.5 million – ARPA).
• Purpose: Addressing the impact of COVID-19 on the local community, focusing on declining workforce and population.
• Resolution 22: Approved $7.5 million transfer from the General Fund for the Next Generation Housing Initiative.
• ARPA: Provided $26 million for economic and community recovery.

2. Public Purpose

• Concerns: Workforce shortage and high living costs affecting housing affordability.
• Study Findings: Disparity between housing demand and new construction offerings.
• Challenges: Aging population, slow growth rate, potential impact on local organizations relying on volunteers.

3. Our Great Community Campaign

• Aim: Preserve and promote Washington County values and quality of life.
• Initiatives:
  • Next Generation Housing
  • Social Capital
  • Workforce and Education

4. Next Generation Housing Vision and Goals

• Vision: Navigating housing opportunities, providing attainable housing options, and building a diverse housing population.
• Goals:
  • 1000 new owner-occupied dwelling units by 2032.
  • Overcoming barriers to home ownership.
  • Ensuring quality homes within 30% of household income.

5. Overview of Next Generation Housing Developments

• Pricing: 75% sold for under $320,000, 100% under $420,000.
• Pricing Limits: Based on 2022 annual median household income of Washington County.
• Annual Review: Adjustments to pricing limits based on current income and interest rates.
• Funding: $6.75 million for three pilot developments, 0% loan for infrastructure construction.

6. Implementation and Funding Components

• Partnerships: Collaboration between local governments, developers, and builders.
• Requirements: Substantiate costs, provide information on discounts, and work completed.
• Deed Restrictions: Five-year restriction on resale to prevent "flip for profit."

7. Next Generation Housing Fund Budget

• Components:
  • Down Payment Program ($2.5 million – ARPA).
  • Pilot Developments ($6.75 million).
  • Start-up Funds ($750,000).
  • Private Developer or Builder Funds ($750,000).

8. Limited Timeframe for Local Government Use of NGH Funds

• Deadlines: March 1, 2024, for startup and pilot funds.
• Substantive Progress: Criteria include land purchase, environmental due diligence, or draft development agreement.

9. Conclusion

• The Washington County Next Generation Housing Initiative aims to create affordable housing solutions, addressing the challenges posed by the workforce shortage and housing affordability. Through strategic partnerships, funding mechanisms, and annual reviews, the initiative seeks to provide sustainable housing options and contribute to the overall well-being of the community.