Ordinance 2022-1839 - DENIED - Laserfiche WebLink

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Denied on Second Reading 1. Amount. The City Council finds that studies performed by municipalities within the vicinity of the City reasonably calculates the impact to the City, including the City's finances and the welfare of the City's residents, of market -rate dwelling units being developed in the City. Accordingly, the fee in lieu is set initially at $9.24 per square foot of finished market -rate for -sale housing, and $4.72 per square foot of finished market -rate rental housing. The fee in lieu of providing any required fraction of a unit shall be pro- rated based on its proportional share (fractional quantity divided by total number of units required) of the amount of fee in lieu that would be required for the whole development. The City Manager shall periodically recalculate the fee in lieu and present the recalculation to the City Council. 2. Timing of payment. A developer or builder shall pay the fee in lieu for each market -rate unit as a prerequisite for receiving the building permit for that unit. The fee paid shall be the fee in effect at the time of the submittal of a complete building permit application for the development, whichever is later. C. Off -site location. Except for affordable units provided in connection with a rezoning from commercial to residential uses pursuant to Section 17.44.050.A.5 of this Code or approval of residential development pursuant to a Special Review Use, aAdeveloper or builder may seek to provide affordable units within the City in a different location than the development of the market -rate units. 1. Quantity required. The developer or builder shall provide no less quantity of affordable housing than would have been required on - site. 2. Location restrictions. The affordable units may not be located in a low to moderate income area as designated by the U.S. Department of Housing and Urban Development, unless an exception is granted by the City Council pursuant to subsection H of this Section. 3. Existing housing. Existing homes may be acquired and deed restricted as affordable if they are in good repair in the determination of the City Manager based on an inspection paid for by the developer but commissioned by the City, carry a warranty of sufficient scope and duration to protect the resident from significant preexisting deficiencies, and are not already burdened by restrictions requiring them to be kept affordable or restrictions similar in effect. Ordinance No. 1839, Series 2022 Page 8 of 16