San Jose, Santa Clara, Milpitas Look to Incorporate AB 1505
It looks like AB 1505 is having a strong impact on local affordable housing fee program. As reported last week, the City of San Jose is aggressively moving forward with incorporating AB 1505 into its inclusionary zoning and impact fee ordinances for the construction of new rental housing. What that means in San Jose is that inclusionary in-lieu fees for new rental housing development will approximately double from the current $17 per sq. ft. impact fee. An item on tomorrow’s City Council agenda touches on the effect of AB 1505. See the Staff memorandum HERE.
Now BIA has learned that the City of Santa Clara will delay adoption of its impact fee ordinance in order to study how AB 1505 might affect affordable housing fees. The City of Milpitas, another one of the “Grand Nexus Study” participants, will also examine how to incorporate the provisions of AB 1505 into its new affordable housing fee programs.