American Canyon To Revise Affordable Housing Regs
American Canyon’s three-year-old affordable housing impact fee on new rental residential housing would be replaced with a 15 percent inclusionary requirement under proposed changes the City Council will deliberate on Oct. 1, 2019. Payment of an in-lieu fee would be allowed only as a last resort. Alternative compliance options such as off-site units, land dedication and others are subject to city approval. And a developer who argues that the inclusionary requirement makes the project financially infeasible would be required to show that the development’s Internal Rate of Return is less than 6 percent. Under the proposed rule, the percentage would be equally split — 5 percent each — between very low, low-income and moderate-income households. Click HERE to view the agenda and staff report. For questions or comments, contact BIA’s Lisa Vorderbrueggen at firstname.lastname@example.org.