(1) No later than June 30, 2025, the department shall develop a standard affordability strategies directory that includes the following strategies: (a) Implementing a local inclusionary zoning ordinance that considers local housing market conditions that is crafted to substantially increase affordable housing including regulated affordable housing production and complies with the requirements of section 29-20-104 (1)(e.5) and (1)(e.7); (b) Adopting a local law or plan to leverage publicly owned, sold, or managed land for regulated affordable housing development; (c) Creating or expanding a program to subsidize or otherwise reduce impact fees or other similar development charges for regulated affordable housing development; (d) Establishing a density bonus program that grants increased floor area ratio, density, or height of regulated affordable housing units; (e) Creating a program to prioritize and expedite development approvals for regulated affordable housing development, except that if the local government has done so pursuant to section 29-32-105 (2), this strategy does not count as an eligible standard affordability strategy for purposes of section 29-32-3705 (3)(e); (f) Creating or expanding a program to subsidize or otherwise reduce permit fees other than impact fees or similar development charges for regulated affordable housing; (g) Enacting local laws that incentivize the construction and preservation of affordable housing units designed to serve residents facing particular challenges securing affordable housing, including accessible and visitable units and multi-bedroom units; and (h) Any other strategy designated by the department that offers a comparable impact on local housing affordability. (2) On or before June 30, 2025, the department shall develop a long-term affordability strategies directory that includes the following strategies: (a) Establishing a dedicated local revenue source for regulated affordable housing development, such as instituting a linkage fee on market rate housing development to support new, regulated affordable housing developments; (b) Regulating short-term rentals, second homes, or other underutilized or vacant units in a way, such as vacancy fees for underutilized units, that promotes a substantial increase in the use of local housing stock for local housing needs; (c) Making a commitment to and remaining eligible to receive funding pursuant to article 32 of this title 29; (d) Amending zoning ordinances that allow the construction of single-unit detached dwellings to allow either accessory dwelling units or duplexes, triplexes, quadplexes, and townhomes in a substantial portion of the jurisdiction; (e) Amending local laws to establish the use of administrative processes for the review and approval of housing development that do not include a requirement of a public hearing; (f) Incentivizing or creating a dedicated local program that facilitates investment in land banking or community land trusts; (g) Establishing an affordable homeownership strategy such as: (I) Establishing a right of first refusal program or programs that transition existing housing stock to regulated affordable housing; (II) Incentivizing affordable condominium developments; (III) Acquiring or preserving deed restrictions on current housing units; (IV) Establishing an incentive program to encourage realtors to work with low-income and minority prospective home buyers; or (V) Establishing an affordable rent-to-own program; and (h) Any other strategy designated by the department that offers a comparable impact on local housing affordability. (3) A local government may submit an existing or proposed local law or program, in a form and manner determined by the department, to the department, and the department may determine that the adoption of that local law or program qualifies as an affordability strategy for purposes of this section, so long as the local law or program supports equal or greater housing affordability and accessibility as the strategies described in subsections (1) and (2) of this section. (4) No later than June 30, 2025, the department shall develop a displacement risk mitigation strategies directory. The directory must include the following strategies: (a) Creating a locally funded and administered rental and mortgage assistance program; (b) Creating an eviction and foreclosure no-cost legal representation program; (c) Establishing a housing counseling and navigation program or funding a community- based housing counseling and navigation program; (d) Creating a property tax and down payment assistance program; (e) Developing a program to offer technical assistance and financial support for community organizations to develop independent community land trusts; (f) Prioritizing local money toward regulated affordable housing unit preservation or implementing or continuing deed restrictions for affordable housing units; (g) Requiring multifamily developers building in areas identified as being at risk of displacement to create a community benefits agreement with affected populations within one- quarter mile of the development that the multifamily developer is building; (h) Providing a prioritization policy for current residents in thirty percent of any new multifamily development; and (i) Other strategies identified by the department that provide displacement mitigation that is equivalent to the other strategies described in this subsection (4). (5) A local government may submit an existing or proposed local law or program, in a form and manner determined by the department, to the department, and the department may determine that the adoption of the local law or program qualifies as a displacement risk mitigation strategy for purposes of this section, so long as the local law or program supports equal or greater mitigation of displacement risk as the strategies described in subsection (4) of this section. (6) Notwithstanding the absence of specific authorization in any other law, a local government has the authority to enact ordinances or resolutions to adopt and implement the strategies identified in this section.
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