In a recent city council meeting, officials discussed the adoption of Ordinance 1695, which aims to amend zoning codes to allow the conversion of residential dwellings into condominiums within the RL6 and R8 zoning districts. This initiative, referred to as common interest ownership, is intended to enhance homeownership opportunities in the city.

The planning commission had previously reviewed this proposal, holding discussions in April and May, and a public hearing in June where community members expressed support for the amendments. Following a workshop on July 24, which attracted around 30 participants, the council deliberated on the implications of the proposed changes, including concerns about housing stock, residential design, and the potential loss of rental units.

Council members acknowledged the need for more affordable housing options, particularly for first-time buyers and low-income households. However, there were significant discussions regarding the potential impact of the ordinance on existing rental properties and the overall housing market. Some council members expressed concerns that the new condominiums might not be affordable for low-income residents, as they could be purchased by individuals seeking second homes or investment properties.

A proposal was made to consider implementing deed restrictions to ensure that units sold as condominiums would be limited to households earning up to 120% of the area median income (AMI). However, questions arose about the feasibility of monitoring such restrictions and the administrative burden it could impose on the city.

Despite these concerns, proponents of the ordinance argued that it would provide a necessary tool for increasing the housing stock and creating more affordable options in a competitive market. They emphasized that the average price of condominiums is significantly lower than that of single-family homes, potentially offering a viable path to homeownership for many residents.

The council ultimately faced a decision on whether to proceed with the ordinance as drafted or to delay its adoption for further consideration of the community's concerns. The discussions highlighted the complexities of balancing the need for increased housing options with the imperative of maintaining affordability and protecting existing renters.