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Laguna Woods sets rental inclusionary in-lieu fee at $642 per affordable square foot
Summary
The council approved a resolution establishing an in-lieu fee for rental projects under the city27s existing inclusionary housing ordinance, setting the fee at $642 per affordable square foot (roughly $32.12 per market-rate square foot) and adopting a schedule for future reviews.
The Laguna Woods City Council adopted a resolution establishing an in-lieu fee for rental developments that choose not to build required affordable units on-site under the city27s inclusionary housing ordinance. Staff and the council said the fee is intended to satisfy state law that requires alternatives for rental projects, and to provide a funding mechanism the city could use to support off-site affordable housing in the future.
City staff explained the mechanics and rationale: "The in-lieu fee that's proposed in the agenda materials is $642 per affordable square foot," staff said. The staff report explained that the figure equates approximately to $32.12 per market-rate square foot and is intended to approximate the cost of constructing an on-site affordable unit; the city retained Economic and Planning…
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