Planning 2025-01-23 Public Comment Letter Dated 1/21/25: Phased Binding Site Improvement Plans

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o Would not compromise, or dilute, existing development standards - because the substantive requirements of development agreements are already present, both in Chapter 17.16, and elsewhere in city code, o Would require that a Binding Site Improvement Plan be consistent with any City - approved master plans and development agreements; and o Would be applied city-wide if approved by the City Council. • No Environmental Determination has yet been issued, but one is anticipated prior to City Council action on the proposal, if the Planning Commission supports moving forward. We believe Neil Tabor has done a capable job of explaining that BSIPs can provide flexibility to accommodate a sale of property. We would add to his observation by noting that sometimes such sales are necessary to facilitate obtaining the financing that is required to make it possible to finish building -out a development. As Mr. Tabor notes, "...these developments often rely on shared features within the larger site, such as parking, access points, landscaping, utilities, refuse collection areas, etc. As an alternative to the traditional subdivision process, these plans are typically used for commercial or industrial sites, however, they can also be used for residential and mixed use developments, which may desire to sell individual portions of land for building sites, while retaining shared common areas. BSIPs can also provide flexibility when combined with creating condominium ownership or phased development." (Bold emphasis was added by the REALTORSm) We want to focus -in on the fact that (even though the BSIPs are typically used for large commercial and industrial projects), the issue before the Planning Commission in this public hearing is also important for housing. Over time, housing legislation passed in 2023 - including HB 1110 (Middle Housing) and HB 1337 (Accessory Dwelling Units) - will result in more dwelling units within cities. But most of that housing will be rentals, and will not likely provide many homeownership opportunities, absent additional changes to state law. More homeownership opportunities not only benefit would-be homebuyers, they also help renters by reducing the competition for rental units (by getting would-be homebuyers out of the rental market), and they create additional opportunities for historically disadvantaged households to access the single most important opportunity to create inter -generational wealth, which is ownership of residential real estate. One of the reasons those Middle Housing and Accessory Dwelling Units are likely to be mostly rentals is straightforward: 2