Livermore In-Lieu Fees To Rise
Livermore’s affordable housing in-lieu fee is scheduled to increase 27 percent from $19.95 to $25.37 per sq. ft., the second increase in two years under the city’s annual adjustment methodology. The Livermore City Council is scheduled to adopt the new rate on Nov. 13, 2017. If approved, the new fee will go into effect 60 days later. The fee is calculated annually on 15 percent of the difference between the development costs for an average 2,000 square foot, market-rate house and the maximum affordable purchase price averaged between a moderate income and low income housing unit. Developers pay the fee as an alternative to providing 15 percent of a project’s units as affordable to low income households. Click here to view the agenda and staff report. For questions or comments, contact BIA’s Lisa Vorderbrueggen at 925-348-1956.