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Loomis delays setting inclusionary in-lieu fee; directs staff workshop after planning commission review
Summary
The Loomis Town Council on Tuesday reviewed a consultant's in-lieu fee study for the town's inclusionary housing ordinance and deferred setting a final fee, directing staff to hold a public workshop with the planning commission and stakeholders to refine the methodology and implementation.
The Loomis Town Council on Tuesday reviewed a staff-commissioned study about an "in-lieu" fee that developers may pay instead of constructing required affordable units on-site. Staff and consultants presented two calculation methods and the council agreed to postpone adopting a fee and hold a public workshop to refine the approach.
The study used an affordability-gap approach. Consulting staff from AECOM explained the difference between a "like-kind" calculation, which estimates the subsidy needed to make a unit of the same type affordable (calculated in the study at about $17 per square foot for for-sale units and $22 per square foot for rental units), and a "non like-kind" approach that measures the subsidy to produce a smaller, simpler affordable unit (the planning commission's preferred alternative produced lower figures: roughly $10/sq ft for…
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