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Council gives direction to pursue inclusionary-housing policy; consultants caution rentals remain financially marginal
Summary
Consultants told the council that ownership projects (townhomes/for-sale) in Los Altos Hills are generally financially feasible and could support a 10–15% inclusionary requirement, while multifamily rental development is marginal under current costs; council asked staff to return with ordinance drafts and recommended thresholds for further planning-commission review.
Consultants from Strategic Economics presented the draft inclusionary-housing and affordable-housing impact-fee analysis requested under the town’s housing-element implementation program.
Derek Braun summarized feasibility results: ownership products (townhomes and many for‑sale prototypes) can support a 10–15% inclusionary set‑aside or an in‑lieu fee; multifamily rental prototypes currently produce negative residual land values under present construction and…
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