SUMMARY
The City of Show Low adopted a sweeping list of incentives to encourage the development of workforce housing at the February 6, 2024, City Council Meeting.
FULL ARTICLE
To address rising home prices and encourage the development of affordable options for the workforce in Show Low, The City of Show Low adopted a sweeping incentives policy for workforce housing at the February 6, 2024, Show Low City Council Meeting. Incentives available to developers of workforce housing projects include expedited review and permit processing, permit fee waivers, reimbursement of capacity fees, reimbursement of sales tax on construction ($1,000 per unit), infrastructure improvements and flexible development standards. These incentives are available for the development of new or renovated housing units with sales prices or rents specifically for the workforce in Show Low. The workforce in this new incentives policy is defined as households having an annual income ranging between 60% and 120% of the Area Median Income (AMI) or between $38,500 and $77,000.
Projects receiving incentives will be required to keep sales prices or rents attainable to the workforce for 10 years, will be prohibited from becoming short-term rentals for 10 years, must be owned or rented by legal U.S. residents and must be occupied full-time and must have one adult in the household that is employed full-time or full-time equivalent for 10 years.
For details about the Show Low Workforce Housing Incentives Policy or to apply for workforce housing incentives, contact Justen Tregaskes at 928-532-4040 or jtregaskes@showlowaz.gov or go to https://www.showlowaz.gov/o/cosl/page/city-permits-and-applications.