Continue discussion of 4d(1) tax classification impacts and potential policy.

The work session provided requested information on geographic distribution and homeowner resources, comparing Richfield's affordability metrics and 4d usage against regional cities. Staff presented updated financial impacts of 4d, noting a $445,000 annual cost, translating to $28.19 for a median-valued home. Peer cities demonstrated varied approaches to 4d, with some focusing on Naturally Occurring Affordable Housing (NOAH) preservation. Housing priorities identified included maintaining affordability for existing residents, NOAH preservation/rehab, and diversifying the tax base, with a preference for mixed-income housing in new development. Staff sought direction on affordability period length, goals for new affordable units, and mixed-income building ratios. Proposed policy thoughts suggested using 4d as a 'tool of last resort,' prioritizing NOAH preservation with rehab, case-by-case consideration, and aligning with key housing priorities while favoring other development tools first.