By Ray Daniels, Lexington For Everyone Board Chair
Published in Lexington Herald-Leader on January 16, 2022
Lexington for Everyone — that should be our guiding principle as public policy is set. Unfortunately, current land use policies and regulations are making it more difficult for people to find affordable housing options and businesses to create more jobs, while accelerating gentrification and inequity in our neighborhoods. That means Lexington is NOT for Everyone, not right now anyway.
Many people don’t realize that 70 percent of Fayette County’s land is designated rural. That means only 30 percent is currently available for most housing, job creation opportunities. According to the Sustainable Growth Study, 97-percent of residents in Fayette County live within that 30 percent and more than 90 percent of that land is already developed.
For too long, Lexington residents have been told that we must choose between protecting our cherished horse farms and creating jobs and housing options in a variety of price ranges. Together, we can do both with more balanced land use policies that allow for flexibility to meet the needs of our community.
Lexington’s existing and proposed land use policies and regulations only focus on creating higher density in our existing neighborhoods in the urban core. The consequences of this approach are alarming.
Lexington isn’t building enough housing options to keep up with the demand. Lexington’s housing inventory is at its lowest point in 15 years. In 2020, only five homes were built and sold under $200,000 in Lexington. That means an already inadequate affordable housing stock will continue to decline and prices will continue to skyrocket, leaving many young professionals, senior citizens, and middle- to low-income families with few options.
No matter where you live in Lexington, you are likely feeling the effects from the city’s land use policies through difficulty finding housing, increasing property taxes and rent rates, or additional neighborhoods at-risk of gentrification. According to the Fayette County PVA, the median home price has increased 63 percent since 2012. Neighborhoods like NoLi, Deerfield, Melrose and Winburn have seen significant increases of more than 100-percent in median sale price over the last seven years.
Recruiting and maintaining a diverse talent base is critical to Lexington’s future, but to do that we must provide for a variety of housing options at all price points. We want our kids and grandkids to be able to invest in this great thing called Lexington.
Because more than 60-percent of Lexington’s revenue comes from taxes on payroll and businesses, it is necessary to create new jobs to support city services. In recent years, Lexington has missed out on 1,500 jobs, $158 million in capital investment and $2.3 million in payroll tax revenue from companies that wanted to stay or locate in Fayette County but instead found a home in another county due to a lack of available land. Without more balanced land policies, Lexington will continue to miss out on job opportunities and critical payroll and property revenues that fund important city and school programs, likely putting more tax burden on existing residents and businesses.
We deserve better results.
This year, the City of Lexington will begin developing Fayette County’s next Comprehensive Plan, a document that guides land use and development policies for the next five years. It is critical that more diverse voices are at the table so the goals and objectives of the plan represent the wants and desires of all segments of our community.
We can – and must – work together to create policies that provide access and opportunity to lift up our neighbors at every stage of life. That’s why I’m excited to serve as chair of Lexington for Everyone, a new nonprofit aimed at providing more education about how land use policies are impacting housing, jobs and equity. In the months ahead, we will be working with a diverse group of stakeholders on solutions to create a community where everyone belongs. Together, we can preserve Lexington’s unique brand and positively shape its future.
Ray Daniels serves as the chair of Lexington for Everyone, which promotes equitable and affordable living and working opportunities for all by advocating for sensible and inclusive land use policies that protect our scenic beauty, strengthen our workforce, foster economic vitality, and advance Lexington’s unique history and cultural diversity – so that it becomes a place where everybody belongs. He is president of Equity Solutions Group, a Thoroughbred horse owner and immediate past board chair for Commerce Lexington Inc. Visit https://lexingtonforeveryone.com/ for more information.