The Northport Village Council took action to approve the second readings of two housing ordinances, one for a workforce housing PILOT as well as an attainable housing facilities exemption, at its regular meeting on July 17.
The attainable housing facilities exemption ordinance establishes an “attainable housing district” that encompasses the entire village of Northport. The intent of the ordinance is to offer a tax incentive to owners of small-scale rental housing developments (1-4 units) that are affordable to moderate-income households, ultimately encouraging the “renovation of aging housing stock, the conversion of underutilized buildings to residential use, and the construction of new attainable housing units.” For a property to be considered eligible, there are a list of criteria to meet, including rental units being leased only to income-qualified households (households at or below 120% of the area median income) at rents that do not exceed 30% of the household’s income.
“This is going to apply to existing homes, but also for nonprofit developers or profit developers — people that want to get this exemption, that’s going to help them get those rental rates down for people that want to live in Northport,” said Northport Village Council President Chris McCann at the meeting. “We want residents to support our local businesses and for multiple other reasons.”
