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Council members press for guardrails as city plans new in-lieu fee trust funds for affordable workforce housing
Summary
City staff proposed creating an Affordable Workforce Housing in-lieu fee trust fund and a Midtown-specific in-lieu trust fund to pool density-bonus fees. Councilmembers asked for governance, allocation metrics and a revised fee schedule before funds are mobilized; both items were held for further work.
City planning and policy staff told the Finance Executive Committee on April 7 that the administration seeks to consolidate fragmented in-lieu fee accounts linked to affordable-housing density bonuses into larger, more deployable trust funds — a citywide Affordable Workforce Housing In-Lieu Fee Trust Fund and a Midtown-specific Midtown Affordable Housing In-Lieu Fee Trust Fund.
Will Tucker of the Office of Policy said the in-lieu fee schedule has not been updated since 2017 and that existing geographic ring-fencing in the code has kept collected fees in small subareas, producing little usable capital for larger affordable-housing projects. The proposed change would create centralized account strings so fees can…
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