The Land Use Incentive Grant point maximum will increase from 140 to 200, with every 10 points worth a rebate of one year of city property taxes above a property’s pre-development total. But developers will also face stricter conditions when applying for LUIG money: The minimum period for which a project must guarantee affordable housing will increase from 15 to 20 years.
Asheville City Council heard a report on the city’s comprehensive plan update, which was released in draft form in June. City planners and consultants highlighted some of the key features of the plan, which lays out a vision for the city’s growth and development. City Council is expected to approve the final plan in October.