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Portland City Commissioner Dan Saltzman wants the city to do more to increase affordable housing.

To that end, Saltzman directed the Portland Housing Bureau and the Bureau of Planning and Sustainability to study the feasibility of a new and streamlined bonus system to foster inclusion of more affordable housing in the multifamily mix.

A public hearing on the study, released last week and posted online at www.portlandoregon.gov/phb/article/535099, will take place July 9. Later, city commissioners will vote on a resolution to accept the study and give more guidance to city staff to develop a new and streamlined bonus system for affordable housing in the central city.

The summary of the study states that the basic idea of a bonus system is to allow developments to have additional square feet in exchange for public benefit. To date, the Central City District Plan has 18 bonus options and six FAR (floor area ratio) transfer options.

Some bonus options, such as bike lockers, have been used often, Saltzman said. Others, however, have been used rarely, if at all, so tightening the guidelines was necessary, he said.

鈥淲e have about 18 bonuses on the books right now for things like green roofs, bike parking and on-site day care, which are all good things, but not as important as increasing the supply of affordable housing,鈥� he said.

During the next 20 years, Portland’s city center will gain about 30,000 new households, according to the housing bureau. Saltzman said new bonus guidelines will be 鈥渁n important tool鈥� to encourage the private market to be part of the solution to the city’s affordable housing crisis.

The new bonus guidelines are 鈥渋ncentives instead of mandates,鈥� Saltzman said, and will include both cash and design incentives.

Incentives for commercial developers who don’t include housing in their developments could include a contribution to the city’s housing investment fund, he said. Contributions to the housing fund would be used by the city to create affordable housing for people with income levels below 60 percent of median family income.

According to the housing bureau, if all bonuses were earned through the payment option, they could generate $120 million to $200 million more for affordable housing or redevelopment over the next 20 years.

Key recommendations of the study include keeping the 3:1 cap on the bonus for floor area ratios for a single site. Also under the proposed guidelines, developers would be able to earn bonus points by including units with rents at 80 percent of the median family income for 60 years.

The study was the topic of a recent work session of the City Council, Saltzman said, and it was determined that bonuses for affordable housing could potentially save developers as much as $32 to $38 per square foot of construction costs.

鈥淚t’s worth it to the development community and we found it is a feasible approach,鈥� he said.