AgdaPkt 2018-05-21 Joint SA PFA - Laserfiche WebLink

Browse Search

7. Colma Following the completion of nexus studies, Colma in September 2016 adopted a new inclusionary and affordable housing impact fee program for all new development. For -sale residential developers of projects with 15 or more units are required to set aside 20 percent of their units as affordable. For -sate builders with smaller projects may pay an equivalent in -lieu fee or petition the city council for approval to dedicate land or comply with an alternative option while developers of rental and commercial projects pay a straight affordable housing impact fee. Type Maximum Justified Fee Single-family $36,000 per unit or $18 per sq. detached ft. Condos/Townhomes $48,000 per unit or $32 per sq. ft. (Rental multi -family $55,500 per unit or $37 per sq. 56% ft. Office, R&D $151 per sq. ft. Retail $189 per sq. ft. Hotel $106 per sq. ft. 8. Concord Current Fee Maximum Justified Fee of Percentage of iPercentage Maximum Justified Maximum Justified Fee (estimated) Projects of 15 or more units must 56% build 20% inclusionary. In -lieu fee is detached $20,000 per unit or $10 per sq. ft. $16,000 per unit or $8 per sq. ft. Projects of 15 or more units must 47% build 20% inclusionary. In -lieu fee is $22,500 per unit or $15 per sq. ft. Condos/rownhomes 1$22,500 per unit or $15 per sq. ft. 40.5% !$5 per sq. ft. 3.3% 1$5 per sq. ft. 2.6% 1S5 per sq. ft. 4.7%___ $59,950 per unit or 2/28/2018 In November 2016, the city converted its existing per unit in -lieu fee to one based on square footage. Through this action, the city also moved toward the restoration over three years of its previous in -lieu fee levels, which were reduced in 2010 from $17,660 per unit to $5,043 per unit in recognition of the economic downtown. Additionally, the impact fee for rental developments will start at $3 per sq. ft. starting July 2018 and it will not ramp up until at least 600 new residential units are under construction downtown. The city made no changes to its inclusionary requirements, which remain at 10 percent for moderate income or 6 percent for low income on market -rate developments. (Future units on the former Concord Naval Weapons base will not be subject to these requirements and fees as the affordability requirement is being negotiated in a separate process.) Type Maximum Justified Fee Current Fee Percentage of Maximum Justified Fee (estimated) detached $41,200 per unit or $16,000 per unit or $8 per sq. ft. 39% (Single-family $20.60 per sq. ft. Condos/rownhomes $45,600 per unit or $12,000 per unit or $8 per sq. ft. 26% $30.40 per sq. ft. Rental multifamily $59,950 per unit or $0. (Rate will go to $3 per sq. ft. at 0% $39.70 per sq. ft. such time that at least 600 new units have been constructed downtown) Non-residential Not studied. $0 NA 1/13/2017