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

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21. Mill Valley The Mill Valley City Council in April 2018 expanded its affordable housing ordinance to include rental residential developments. Starting on June 1, 2018, developers of all new single-family housing projects, rental and for -sale multi- family projects up to three units and remodels costing $100,000 or more must pay an impact fee equal to 1 percent of the project's construction cost. Multi -family rental and for -sale projects with four or more units must set aside at least 25 percent of the project's units as affordable. ADUs are exempt. The city will use the funds toward the acquisition, construction, development, rehabilitation, maintenance or administration of affordable housing property. Type Maximum Justified Fee Current Fee* Percentage of Maximum Justified Fee (estimated) Single-family $71,400 per unit or $35.70 per 1% of construction cost. (2000 sq. ft. 11% detached sq. ft. home with $800,000 value would be $8,000 or $4 per sq. ft.) ITownhome $64,500 per unit or $43 per sq. Projects up to three units pay 1% of 9% ft. construction cost. (1500 sq. ft. home with $600,000 value would be $6,000 or $4 per sq. ft.) Projects of four or more units must provide 25% inclusionary with no fee option. Fractional units are rounded up to the nearest unit and treated as a whole unit. Condominium '$119,200 per unit or $59.60 per Projects up to three units pay 1% of 7% sq. ft. construction cost. (1500 sq. ft. home with $600,000 value would be $6,000 or $4 per sq. ft.) Projects of four or more units must provide 25% inclusionary with no fee option. Fractional units are rounded up to the nearest unit and treated as a whole unit. $61,650 per unit or $41.10 per 25% inclusionary with no fee option. NA (Rental multifamily sq. ft. Fractional units are rounded up to the nearest unit and treated as whole unit. Non-residential f Not studied No fee 4/3/2078 • Starts June 1, 2018. Adjusted annually for inflation. 14