For several years, Harris has worked with the City of Duarte on engagements to incentivize and deliver affordable housing. In addition to supporting the City on two State housing grants, our Community Development + Housing team helped create an Acquisition and Rehabilitation Program to preserve and increase the number of deed-restricted affordable units in the City.
In a recent Inclusionary Housing Feasibility Study, we analyzed the feasibility of re-instating the Inclusionary Housing Ordinance that was temporarily suspended in 2016. Other methods we explored to creatively incentivize affordable housing have included performing pro forma analysis of funding sources, acquisition and construction cost estimates, and cash flow of potential projects for certain strategic sites. Supported by SB 2 grant funding, we also evaluated the financial feasibility of each site as a way to show the development community that affordable housing projects in Duarte are sound investments.
In addition, Harris has provided the City with annual SB 341 and Housing Authority reporting on affordable housing revenues, expenditures, and assets as required by state law.