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City announces affordable housing fee-in-lieu rate change
Thursday, October 12, 2017 by Nina Hernandez
Late last month, the interim director of the Neighborhood Housing and Community Development Department, Rosie Truelove, told City Council that the fee-in-lieu rates for the University Neighborhood Overlay, East Riverside Corridor and Downtown Density Bonus would increase. The change, which went into effect on Oct. 1, means an extra $1 per net rentable square foot for the University Neighborhood Overlay – Outer West Campus Subdistrict; $1 per square foot for the East Riverside Corridor; and $10 per square foot for the Downtown Density Bonus. In her memo telling Council of the change, Truelove said, “City code in conjunction with the specific regulating plans establish that fee-in-lieus are ‘adjusted annually in accordance with the Consumer Price Index.’“
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