Santa Clara Multifamily Occupancy Study
Determined to prove that park impact fees in the City of Santa Clara are too high, BIA Bay Area has commissioned Development Financial Advisors (DFA) to complete a study of occupancy generation rates in new Bay Area multifamily units. The City recently released an updated nexus study to their residential development impact fees that would raise parks fees over $10,000 per unit. DFA’s Housing Occupancy Analysis targets a key factor in the park fee calculation formula - persons per household generation rate of new multifamily residential units. The real world Analysis of some 9,500 units concludes that multifamily units generate considerably lower residents per unit resulting in significantly lower impact on the need for new parks and facilities. According to DFA the difference between the rates used in the nexus study and real world data would lower fees by thousands of dollars per unit. To read BIA’s letter click here and the Occupancy Analysis click here. To read the Draft Impact Fee Update click here.