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Atherton council adds inclusionary housing fee to master schedule; ownership fee set below staff point-of-indifference
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Summary
The council adopted a resolution placing an inclusionary housing in-lieu fee in the master fee schedule. Staff proposed $150/sq ft for rentals and $200/sq ft for ownership; council adopted the resolution and closed the public hearing.
Staff presented a resolution to implement an in-lieu inclusionary housing fee following last month’s ordinance adoption. The fee will allow developers to pay an in-lieu amount to satisfy inclusionary requirements where on-site units are not provided.
Britney summarized the methodologies considered and said staff and the Bay Area economic analysis supported a point-of-indifference ownership figure around $212 per square foot, but the council set the ownership in-lieu fee at $200 per square foot; rental projects were proposed at $150 per square foot.
A council member moved to adopt the resolution, the public hearing was closed, the motion was seconded and the council approved the resolution by roll-call vote. The staff presentation said the inclusionary ordinance becomes effective Saturday and adding the fee to the master fee schedule enables implementation next week.
No amendments were made during the hearing. The council directed staff to implement the fee schedule and to cite the adopted rates in the town’s master fee schedule and administrative materials.
