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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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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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42. Santa Clara County <br />Santa Clara County released its affordable housing nexus fee study on April 4, 2018, and scheduled a series of outreach <br />meetings for the balance of the month. Although very little development occurs in the unincorporated areas of the county, <br />the study recommends fees on new residential development of $15 to $16 per sq. ft. in conjunction with a new inclusionary <br />policy. The report also calls for a new commercial linkage fees ranging from $3 to $7 per sq. ft. Within the Stanford <br />University campus, which will be governed under the proposed updated 2018 general use permit, the consultants offer a <br />range of options ranging from requiring the construction of units on-site up to payment of impact fees between $69 and <br />$143 per sq. ft. If adopted by the Board of Supervisors, all new construction in the unincorporated areas of the county <br />would pay the fees. <br />Type <br />Maximum Justified Fee <br />Current Fee Percentage of <br />Maximum Justified <br />Fee (estimated) <br />Single-family <br />$83,000 per unit or $41.40 per <br />INo fee <br />detached <br />Office <br />sQ. ft. <br />$1i 3.40 per sq. ft. <br />INo fee <br />iRetail <br />$213.40 per sq. ft. <br />INo fee <br />Hotel <br />$118.60 per sq. ft. <br />INo fee <br />Industrial <br />$102.50 per sq. ft. <br />INo fee <br />(Warehouse <br />Stanford <br />(Stanford University <br />$37.80 per sq. ft. <br />$69 per sq. ft. to $143 per sq. <br />fee <br />1 affordable unit per 11,763 sq. ft. of <br />ft. academic space' <br />INo <br />academic space or in -lieu payment <br />411012018 <br />* Keyser Marston Associates offers Santa Clara County in the nexus study a range of what it means to provide full mitigation of impacts: $143 <br />per sq. ft. funds sufficient <br />affordable housing for extremely low, very low and moderate income households through 120 percent of <br />countywide area median income (AMI); $75 per sq. ft. funds extremely low, very low and tow income through 80 percent of AMI; and $69 <br />per sq. ft. funds sufficient <br />housing for university faculty and <br />staff. <br />43. Santa Rosa <br />In 2012, the city commissioned an affordable housing nexus study on new residential development and subsequently <br />adopted new fees. It has not studied commercial development impacts and has no fees. <br />Type <br />Single-family detached <br />Townhomes/condos <br />Rental multifamily <br />I <br />Non-residential <br />Maximum Justified Fee <br />Varies by unit price: $8,930 <br />for $200,000 house or 4.5%, <br />and going up to $31,550 for <br />$1.2 million house or 2.6%. <br />Same as above. <br />Varies by number of <br />bedrooms: $7,583 per unit <br />for studio up to $12,741 per <br />unit for a three-bedroom. <br />Mid -point fee is $10,162 or <br />$6.77 per sq. ft. for 1,500 - <br />sq. ft. unit. <br />INot studied. <br />* Adjusted annually based on Engineering Record Construction Index. <br />Current Fee` <br />2.5% of the sales price. <br />Applies to all units. <br />Percentage of Maximum <br />Justified Fee <br />(estimated) <br />55% <br />Same as above. 55% <br />Varies by size: The fee for a 75% <br />1,500 -square -foot <br />apartment, for example, is <br />$7,666 or $5.11 per sq. ft. <br />lNo fee <br />27 <br />111212015 <br />
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