LandWatch News Alert
Irvine Adopts Housing Strategy

The Irvine City Council has adopted an enviable new Affordable Housing strategy. They have created the Irvine Community Land Trust which will allow permanently affordable housing. Monterey County should look at Irvine as a model for creating and maintaining Affordable Housing. Community land trusts are used to create permanent affordable housing. Read the press release below:

FOR IMMEDIATE RELEASE
CONTACT: Judy Pal, Communications Mgr.
#06-03-15
Office: 949.724.6077
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Irvine Adopts Housing Strategy
Land Trust created to support affordable housing

IRVINE, CA (March 15, 2006): At the March 14 meeting of Irvine City Council, a new housing strategy was approved. The plan calls for the development of the Irvine Community Land Trust to create permanently affordable housing in Irvine. When the former El Toro Marine Corps Air Station was annexed, the City established a housing task force. It recommended the City adopt a goal of 9,700 units of affordable housing by 2025 representing approximately 10% of the city’s housing stock.

“The creation of the Irvine Community Land Trust will facilitate the City’s ability to continue providing a full spectrum of housing needs for our residents," said Mayor Beth Krom. “It will also help us address the challenge of providing high-quality, affordable housing in perpetuity."

A seven-member Board of Directors made up of two City representatives, three members of local community organizations, and two members elected by the eventual residents living in Trust units will oversee the Trust’s activities. Mayor Beth Krom and Councilwoman Christina Shea have been appointed to serve as the interim Board. The City Council will appoint all seven members within the next 60 days.

Since its incorporation, Irvine has created affordable housing that is fully integrated within the community. The City currently has 4,400 units of affordable housing, 3,155 developed through its inclusionary housing program, which requires 15% of all new housing to be affordable, and another 1,245 created through HUD-assisted projects in partnership with nonprofit organizations.

Community land trusts are used to create permanent affordable housing. Organized as separate 501c(3) public charities, these trusts obtain land through acquisition or donation and then lease the land to developers to create affordable housing. By maintaining ownership of the land, the trust controls the price of housing built, so both rental and homeownership units remain at affordable levels. They can also lease land for projects that serve people with special housing needs. Community land trusts can also negotiate with developers for deed restrictions and covenants on existing affordable units that are at risk of losing their affordability. Many of the past units created through Irvine’s inclusionary program are in this category.

The City will have a projected $143 million in redevelopment housing set-aside funds generated from the Orange County Great Park project area and a projected equivalent of $125 million from in-lieu fees generated from its inclusionary housing program to support this effort. The housing strategy analysis predicts these resources will have to be leveraged with others to meet the 9,700 unit goal.

Celebrating its 35th anniversary, the City of Irvine has a population of more than 180,000, spans 65 square miles and is recognized as one of America ’s most successful master-planned urban communities. Top-rated educational institutions, an enterprising business atmosphere, sound environmental stewardship, respect for diversity and a commitment to community safety all contribute to Irvine’s enviable quality of life. This family-friendly city features more than 2,600 acres of parks, sports fields and dedicated open space and is the future home of the Orange County Great Park – the first great metropolitan park of the 21st century. For more information, please visit www.ci.irvine.ca.us.

City of Irvine Public Information Office
1 Civic Center Plaza, Irvine, CA 92606
PHONE: (949) 724-6077 • FAX: (949) 724-6045
http://www.cityofirvine.org

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Posted 03.16.06