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AgdaPkt 2018-05-21 Joint SA PFA
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AgdaPkt 2018-05-21 Joint SA PFA
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Last modified
5/22/2018 3:10:38 PM
Creation date
5/17/2018 5:10:42 PM
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
5/21/2018
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9. Cupertino <br />In May 2015, Cupertino significantly increased its affordable housing impact fees levied against all residential and <br />commercial development based on the results of an updated nexus study. As of July 6, 2015, rates on residential <br />development increased from $3 per sq. ft. to a range of $15 per sq. ft. to $20 per sq. ft. depending on the type of unit. <br />Rental fees increased to $20 per sq. ft. and commercial fees increased to a range of $10 per sq. ft. to $20 per sq. ft., <br />depending on the nature of the use. <br />7 p <br />Single-family detached <br />Condoslrownhomes <br />Rental multifamily <br />Office/Industrial/R&D/WH <br />Hotel <br />Retail/Restaurant <br />10. Daly City <br />Maximum Justified Fee <br />Current Fee <br />$118,100 to $84,200 per unit <br />to $30,000 per unit, or <br />or $30_60 to $30.10 per sq. ft. <br />($33,000 <br />$16.50 to $15 per sq. ft. <br />$65,900 to $52,600 per unit or <br />$30,000 per unit or $20 per sq. <br />$35.10 to $33.80 per sq. ft. <br />ft. <br />$53,100 to $42,300 per unit or <br />$30,000 per unit or $20 per sq. <br />$42.50 per sq. ft. to $33.80 <br />ft. <br />per sq. ft. <br />$129.05 per sq. ft. <br />1520 per sq. ft. <br />1$49.15 per sq ft. $15 per sq. ft. <br />$222.32 per sq ft. 1$10 per sq. ft. <br />(Percentage of <br />Maximum Justified <br />Fee (estimated) <br />54% <br />59% <br />60% <br />15.5% <br />30% 1 <br />4.5% <br />--- 712712015 <br />In response to the Palmer decision, the Daly City Council in April 2014 updated its 2007 inclusionary housing ordinance <br />and replaced it with in -lieu fees for rental units. For -sale developers must provide 20 percent affordable units and may <br />propose to pay in -lieu fees. <br />detached <br />Fee <br />,540 per unit or ($28,000 per unit or $14 per sq. ft. <br />.27 per <br />000 per unit or ($27,000 per unit or $18 per sq. ft. <br />per sq. ft. <br />,145 per unit or 1$33,000 per unit or $22 per sq. ft. <br />43 per sq. ft. <br />,165 per unit or 1537;500 per unit or $25 per sq. ft. <br />.11 per <br />Percentage of <br />Maximum Justified <br />Fee (estimated) <br />66% <br />-- - 75% <br />73% <br />
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