Thousand Oaks Pushes Back on Density, Projects Stall
Challenges in Affording Housing Incentives Amid escalating housing pressures, Thousand Oaks faces significant financial challenges in incentivizing affordable housing. The city's existing programs, like Housing Trust Funds and density bonuses under the county zoning ordinance, struggle to be effective. Limited municipal resources for affordable housing hinder progress. Often, budget prioritization redirects funds to competing city services. Moreover, developer participation is hampered by financial constraints. Developers encounter high costs and regulatory complexities. These issues deter investment in affordable projects. Slow progress is evident, with only 5% of new permits facilitating affordable housing. Rising land and construction costs exacerbate these challenges. They jeopardize the viability of projects. The city is dealing with the decline in breadwinner roles since the 1970s due to economic shifts, which translates into a broader economic struggle for men to support af...