|
7B
<br /> Page 3
<br /> Table I (Attachment 1) of the nexus study provides detail on the type and expected
<br /> location of 4,329 units of new residential development. The study produced results for
<br /> our City as follows:
<br /> 1. Expected number and type of new residential units = 4,329 units
<br /> 2. Average residents per unit type x new residential unifs = 7,845
<br /> 3. Acres of park needed based on 3 acre/1,a00 standard = 23.5 acres
<br /> 4. Cost of land and park improvements = $2.33 million/acre
<br /> 5. To#a[ cost through 202� _ $54,767,000
<br /> When those costs are spread across a!I of the various housing types based on the
<br /> average population per unit, they produce the maximum park in lieu-fee per unit
<br /> described beiow in Table 1.
<br /> Tabls 1: Maximum Atlawabte Park Fee
<br /> Dwe[Iin Units/Acre Low, 1-7 Medium, 8-20 Hi h, 2'1 + Bedroom
<br /> Residential T e Owned/Rental Owned Rental Owned Rental Addition
<br /> Po ulation/Dwellin Unit 2.84 2.38 2.55 1.87 2.48 0.24
<br /> Maximum Fee $99,955 $'f6,784 $17,983 $13,789 $17,474 $1,696
<br /> M(G also prepared an update of the January 2005 CORO Feilows Study which
<br /> compared #he total development fees of various cities. The findings of their study are
<br /> described in Table 2 below. Specific fees may vary somewhat across jurisdictions,
<br /> however, in Redwood City development fees include: all normal Planning and Building
<br /> permit casts as well as the School Impact Fea; the Transportation lmpact Fee;
<br /> Wastewater Sewer System Capital Facilities Fee; Wastewater Treatment Capacity Fes;
<br /> Water Meter Installa#ion Fee; Water System Capital Facilities Fee and tMe recently
<br /> adop#ed Water Capacity Charge. As indicated in the table, Redwood City ranks the
<br /> fowest in total development fees amongst the comparison cities across a[i categories.
<br /> Table 2: Cam arison of Total Develo ment Fees
<br /> Dwellin Units/Acre Low, 1-7 Medium, $-20 Hi h, 21 + Bedroc�m
<br /> Jurisdiction Owned/Rental pwned Rental Owned Rental Adciition
<br /> Dal Cit $26,937 $12,273 $8,439 $12,375 $8,539 $4,086
<br /> Menlo Park 50,812 24,297 23,241 24,297 23,241 3,344
<br /> Palo Alto 3�,038 15,256 8,924 15,256 8,924 2,885
<br /> Redwood Cit 2�4,676 11,530 8,116 11,530 8,116 1,574
<br /> San Leandro 48,979 25,19� 20,507 25,190 20,507 3,950
<br /> San Mateo 29,310 26,994 20,622 26,994 20,622 5,428
<br /> Sunn vale 27,753 18,420 15,212 15,562 92;808 2;533
<br /> V11hen the maximum allowable park fees are added toRedwood �ity's existing
<br /> devefopment fees, Redwood City's ranking moves up dramatically as seen in Table 3.
<br />
|