Reducing Barriers to Affordable Housing Production

Purpose
The purpose of the Charleston Water Affordable Housing Incentive Program is to provide private and public sector builders and developers with regulatory and financial incentives to produce “Affordable Housing” in the Charleston tri-county area.  This program will lower barriers to affordable housing production by deferring and reducing the payment of water and wastewater impact fees.

Eligible Participants

• Nonprofit developers, for profit developers, government entities, nonprofit/for profit developer partnerships.

Eligible Projects

• Program benefits are available for specific housing projects, including single and multi-family housing, which include provisions for units affordable to low and very-low income households.

Program Benefits

• Each residential unit certified by LHT as affordable to low income or very-low income households are eligible for and will receive the following benefits:
• A $500.00 reduction for the engineering services portion of the water impact fee.
• A $500.00 reduction for the engineering services portion of the wastewater impact fee.
• Delayed payment of the water and/or wastewater impact fees.

Terms

• In no event will water or wastewater services be provided to the applicant prior to the full payment of applicable water and wastewater impact fees.
• The “Project Certification Letter” will be valid for two years from the date of issuance.
• The “Project Certification Letter” issued for a specific residential affordable housing unit development shall not be transferable to another affordable housing unit development regardless of whether the applicant is the same for both developments.
• The “Infrastructure Lien Agreement”, which shall be recorded at the Charleston County RMC Office, shall specify mechanisms or procedures to ensure the continued affordability and availability of the specified number of affordable housing units for low income and very-low income household.