The Mooresville Board of Commissioners earlier this month unanimously approved an ordinance to encourage Mixed-Income Residential development through by-right density bonuses and development fee refunds.
The ordinance, a product of the Town’s Comprehensive Housing Strategy, was approved after the Board heard supportive comments from members of the public, including both the Executive Director of the Mooresville Community Foundation and Madeline Keeter, REBIC’s Government Affairs Manager.
The voluntary program provides incentives for developers to include affordable units within new subdivisions. Developers using the ordinance can obtain a by-right increase in zoning density without a Conditional Use Permit as long as the total number of additional units yielded by the increase are priced for residents earning between 50% and 100% of Area Median Income (AMI), currently around $43,000 for a family of four. The ordinance would apply to the Town of Mooresville, as well as the ETJ.
REBIC supports Mooresville’s Incentive-based approach to producing more affordable housing, and looks forward to working with Town planners and elected officials to ensure it produces the desired results.
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