Per its established fee setting formula, Livermore will increase its affordable housing in-lieu rate by $3.15 to $28.52 per sq. ft., or 12 percent. The City Council is scheduled to ratify the annual fee resolution on Oct. 28, 2019, which will go into effect 60 days after the vote. Click HERE to view the agenda and associated documents. The in-lieu fee is based on 15 percent of the difference between the development costs for an average 2,000 sq. ft. market-priced unit and the maximum affordable purchase price averaged between a moderate and low-income housing unit. The fee is then converted into a per sq. ft. rate. Developments with 10 or fewer units automatically pay the in-lieu fee, while larger projects must set aside 15 percent as affordable or secure city approval to pay the fee. For questions or comments, contact BIA’s Lisa Vorderbrueggen at lvorderbrueggen@biabayarea.org.
