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Mariposa Apartments in Carlsbad(CA)were built to fulfill inclusionary obligations as part of the larger Calavera Hills Planned Community. They are home to 105 households earning between 20 and 60 percent of area median income, and were built with additional assistance from tax exempt bonds and 4 percent low-income housing tax credits. asp. y. Y � •� �'�}gam ; ..s � { � 5_..�s ..... - t 4 „lig) 4 z f Af 4 1 S a 4 �' 'p ..R i ac's �R A r. ♦ • w« g 6. Many Policies Will Need to Be More However, many local and state governments have Creative to Serve Very Low- and made significant cuts to affordable housing funding Extremely Low-Income Household!; in recent years, and the federal government has cut funding for the federal HOME program substantially.54 The Palmer decision's recent prohibition of rental This loss of funding may impede the ability of mission- inclusionary requirements will make it harder to reach driven affordable housing developers to leverage very low-income households in California earning 50 inclusionary requirements for deeper affordability percent or less of the area median income. Generally it going forward. has only been the rental units of inclusionary housing policies that have served very low-income households. Given this loss of funding, along with new restrictions Ownership inclusionary units are rarely priced for on rental inclusionary housing, local gcvernments may households earning this little. A recent California need to adopt new approaches to ensure that very survey, for example, found that only 11 percent of for- low-income and extremely low-income households are sale units were available to households with incomes at included in newly developing communities. Potentially or below 50 percent of area median income.A majority promising ideas include: were priced for households earning between 81 and 120 percent of the median.52 • Providing public land at discounted cost to support inclusionary partnerships that serve very low- and Many polices allow market-rate developers to meet extremely low-income households; their inclusionary requirements by dedicating funds or land to affordable housing developers to produce • Offering first-right-of-refusal for purchasing in- the required affordable units either on site or nearby. clusionary for-sale homes to housing authorities With the help of additional public subsidies, affordable or nonprofits that can use public horsing or Section housing developers can build on these contributions 8 voucher subsidies to manage the units as deeply to provide even deeper levels of affordability than affordable rentals;55 originally required by the ordinance.These partnerships • Lowering the required affordability set-aside are relatively common in states like California, when developers meet deeper income targeting where they were responsible for nearly one-third of standards; and inclusionary homes between 1999 and 2006 arid 68 percent of inclusionary homes for extremely low income • Conditioning particularly valuable cost offsets on households(a total of 611 units).53 providing deeper levels of affordability.