Walnut Creek Looks At Costly Affordable Housing Fee Policies
Substantial proposed fee increases and wholesale policy changes in Walnut Creek’s affordable housing fee program will go before city leaders during a workshop on Jan. 10, 2017. Staff is recommending the City Council ultimately hike the affordable housing impact fee on new residential development by $7 per sq. ft., or $15 per sq. ft. to $22 per sq. ft. Developers would have the option to pay the fee or provide the affordable units within the project. In addition, mandatory inclusionary percentages would rise: moderate income from 10 percent to 20 percent; low income from 7 percent to 13 percent; and very low income from 6 percent to 10 percent. New commercial development would pay double the current rate, up from $5 per sq. ft. to $10 per sq. ft. Click here to download and view the agenda, staff report and related documents. For comments or questions, contact BIA’s Lisa Vorderbrueggen at email@example.com or 925-348-1956.