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Finance committee delays Santa Fe homes fee-in-lieu ordinance to allow collaborative amendments
Summary
The finance committee postponed consideration of bill 2026-11, which would change the Santa Fe Homes programfee-in-lieu calculation from 65% to 30% of area median income, so stakeholders can work on amendments; the postponement passed unanimously.
The Santa Fe Finance Committee on Monday postponed action on bill 2026-11, an ordinance that would amend the Santa Fe Homes programby changing how the fee-in-lieu for rental affordable units is calculated.
Staff read the caption for the item, saying the proposal would "amend the fee in lieu calculation to use 30% of the area median income instead of 65% when determining a base fee amount." Committee members moved to postpone consideration so teams both for and against the measure could craft a joint amendment, and the motion carried on a unanimous roll call.
"Part of why we're doing this is there are some amendments," the presiding chair said, urging stakeholders to use the delay to work together on changes. The committee recorded affirmative roll-call votes from Councilors present: Councilor Castro, Councilor Garcia, Councilor Bustamante and Chair Tara Faulkner.
The committee did not take further substantive action on the ordinance; staff and sponsors were directed to continue amendment work ahead of the next finance committee meeting. The caption read at the meeting listed the bill as "bill number 2026-11, adoption ordinance number 2026-TBD, sponsored by Mayor Michael Garcia, Councilor Alma Castro, Councilor Pilar Faulkner, and Councilor Lee Garcia." Details of any amended language and the ordinance number were not specified at the meeting.
What happens next: the committee said it would revisit the ordinance at its next finance meeting to consider collaboratively drafted amendments. The transcript contains two references to the committee's next meeting dates (a June 22 date-certain mentioned during the motion and a staff announcement that the next meeting is Monday, 07/27/2026); the committee did not resolve that discrepancy during the session.
