AgdaPkt 2015-10-26 Study and Joint SA PFA

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7.A. - Page 7 the particular fee amount and provides specifics about how to calculate the fee and what uses are exempt. Each of these items will be discussed in more depth below. Fee Amounts: Based on the findings of the nexus studies, fees could be charged on both types of development and maintain development feasibility. Redwood City has a healthy market for residential and commercial development and staff recommends fees shown in Figure 4. The study allowed for a range for condominiums and apartments. In considering the fee, staff looked at surrounding city amounts (ranging from $15/square foot - $25/square foot) and future actions. In particular, staff recommends the $20/square foot for condominiums and apartments as this allows for additional community benefits as part of the Partnership Redwood City program. All other amounts are recommended at the maximum feasibility. Residential square footage subject to the fee excludes non-leasable square footage, such as covered patios, amenity spaces, hallways and parking structures. Commercial square footage includes gross square footage excluding structured parking. The adopted amounts are proposed to adjust automatically each year consistent with the Engineering News Record (ENR), which is typical for impact fees. Payment amount would be set at the time of building permit issuance. FIGURE 4: RECOMMENDED FEE AMOUNTS FOR REDWOOD CITY UNIT TYPE FEE PER SQUARE FOOT Condominiums and Apartments $20 Single Family $25 Townhome Developments $25 Office $20 Hotel $5 Retail and Restaurant $5 With these fee amounts, a high-density downtown project of 100 residential units could pay approximately $1,600,000 in fees. An office project of 100,000 sq. ft. could pay $2,000,000 in fees. Projects Subject to the Fee: While the Nexus Study justifies charging the fee on any new square footage or use conversion, staff recommends a more conservative program with a minimum project size of five or more residential units or more than 5,000 square feet of net new commercial floor area. This minimum eliminates further cost burden on homeowners or new duplex and fourplex-type projects. They also encourage small commercial improvements that benefit neighborhood quality and business retention. Desirable public uses such as hospitals and community facilities and quasi-public uses such as child care centers, churches and schools are also exempted. Projects for which the applications were deemed complete prior to September 21, 2015 (when the fee was initiated) are proposed to be exempt from paying the fee. The fee would become effective 60 days after the adoption date.