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Council approves developers request to pay below-market in-lieu fees for West El Camino Real condominium conversion
Summary
Council approved De Anza Properties request for alternative compliance allowing in-lieu BMR payments (7% of final sales price) for a condominium conversion at 1124 W. El Camino Real; staff estimated roughly $16M from ownership in-lieu fees plus ~$950K in rental impact fee (estimates subject to final sales prices). Council asked staff to confirm whether fee calculation is based on 86 or 91 units after a revised tentative map.
The City Council voted to approve a developers request to satisfy below-market-rate (BMR) obligations for a West El Camino Real residential project by paying in-lieu fees rather than providing on-site ownership units.
What was approved: The developers revised plan converts an originally grandfathered multifamily rental building into condominiums (proposed 86 for-sale units plus five single-family lots), making 91 ownership units potentially subject to Sunnyvales 15% inclusionary requirement. Staff recommended accepting an alternative compliance plan that collects…
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