A Staff recommendation to sharply raise affordable housing fees on nearly all development is now scheduled for review this week by the Palo Alto City Council Finance Committee, a four member subcommittee of the Council. If adopted, Palo Alto affordable housing fees would be the highest in the Silicon Valley/South Bay region. Fees for multifamily construction would go from $0 to $50 per sq/ft, and fees on for sale townhouses and condos would also be $50. Fees on commercial construction would also see significant increases. The Staff Report notes that “Even at (Staff) recommended levels, the City’s fees will be higher than all of the neighboring jurisdictions”.
To read the Staff Report and Nexus Studies click here