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

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17. Livermore Livermore restored its affordable housing ordinance effective in February 2014 after offering recessionary regulatory relief for several years. Developers of market -rate units are once again required to provide 15 percent of the project as affordable homes on-site unless the city approves an alternative. Rental developments in specific neighborhoods are required to pay an affordable housing impact fee. The city also charges a nominal fee on non-residential development. ype Maximum Justified Fee (Single-family detached $40,100 per unit or $20.05 per sq. ft. Townhomes/condos $30,075 per unit or $20.05 per sg. ft. Rental multifamily $32,685 per unit or $21.79 (Downtown only) per sq. ft. Retail Commercial Discount/Service Retail Office - - Hotel Manufacturing Warehouse & Storage IBusiness Commercial Industrial High Intensity Industrial Low Intensity urrent Fee` Percentage of (Maximum Justified Fee (estimated) $50,740 per unit or $25.37 per sq. ft. 126.5% $38,055 per unit or $25.37 per sq. ft. 126.5% $38,055 per unit or $25.37 per sq. ft. 126.5% $1.19 per sq. ft. $0.90 per sq. ft. $0.77 per sq. ft. $586 per room 0.37 per sq. ft $0.11 per sq. ft. $0.76 per sq. ft. $0.38 per sq. ft. $0.23 per sq. ft. - ----- - -- — --- -_- ----- -- --- - - 2122112018 Methodology based on 15 percent of the difference between the development costs for on average 2,000 sq. ft. market -priced unit and the maximum affordable purchase price averaged between a moderate -income and low-income housing unit. The fee is then converted into a per sq. ft. rate. 18. Los Altos In May 2017, the Los Altos City Council directed staff to prepare and bring back for a vote an ordinance setting residential affordable housing impact fees at $45 per sq. ft. for multi -family rental projects, $25 per sq. ft. for new office developments and $15 per sq. ft. for other non-residential developments. They asked staff to propose a fee for ownership multi -family projects. Earlier in the year, staff said they were not recommending an impact fee for new single-family homes, citing the extraordinarily high cost burden on the already high cost of single family housing in the community. (Type Maximum Justified Fee (Current Percentage of Maximum Justified Fee Fee (estimated) Single-family detached $78,800 per unit or $49.40 per sq. ft. lPending Condos $78,150 per unit or $52.10 per sq. ft. 1Rending_ ownhomes $71,250 per unit or $47.50 per sq. ft. lPending Rental multifamily $79,950 per unit or $43.30 per sq. fL Pending- - - - --- - en -- -- - Office $140.10 Pding Retail $260.70 lPending -- Hotel -- $125.50 _- lPending I _ - 812112017 11