Title
Be it ordained that Chapter 12 of the Revised Ordinances of 1991 be amended relative to Inclusionary Zoning
Body
Be it hereby Ordained by the Malden City Council that the Revised Ordinances of 1991 as amended be hereby further amended as follows:
-by adding a new Section 700.15 to Chapter 12 Zoning as follows:
700.15 Inclusionary Housing
700.15.1 Purpose: The purpose of this ordinance is to promote the health, safety and welfare of the inhabitants of the City of Malden by:
a) encouraging housing opportunities for people of mixed income levels;
b) increasing the supply of housing that is available and affordable to low- and moderate-income people, with an emphasis on the type of housing currently most needed in the City - housing for households with children and for low-income households;
c) ensuring that such housing is affordable over the long term; and
d) preventing the displacement of low-to-moderate income Malden residents; and
e) maintaining an economically integrated community; and
f) mitigating the impacts of market-rate housing on the supply and cost of low- and moderate-income housing in that the creation of new market-rate housing:
1. decreases the available supply of future developable land in the City of Malden;
2. creates upward pressure on the pricing of all housing in the City of Malden;
3. exclusive of the creation of low- and moderate-income housing, impedes the goal of maintaining an economically integrated community."
This ordinance provides incentive for the voluntary development of housing affordable to low- and moderate-income households within applicable residential projects that are larger in terms of total number of dwelling units and/or density than that normally permissible by right. Developers may request approval of such development through the special permit with site plan review process set forth in Section 800.3.2 and in accordance with the provisions of this ordinance. The Planning Board shall have sole authority to re...
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