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TOWN OF TRUCKEE <br /> California <br /> RESOLUTION 2017-60 <br /> A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF TRUCKEE <br /> APPROVING AN UPDATED AFFORDABLE HOUSING IN-LIEU FEE AND UPDATED <br /> GUIDELINES AND PROCEDURES FOR THE ADMINISTRATION OF THE <br /> AFFORDABLE HOUSING IN-LIEU FEE PROGRAM <br /> WHEREAS, the Town Council on May 3, 2007 adopted Ordinance 2007-05 establishing <br /> inclusionary requirements for affordable housing on residential projects and on February 5, <br /> 2009 adopted Ordinance 2008-09 establishing requirements for affordable housing on non- <br /> residential projects ; and <br /> WHEREAS, Ordinances 2007-05 and 2008-09 include provisions for payment of fees in- <br /> lieu of constructing their required affordable housing; and <br /> WHEREAS, Sections 18.214.040.E.4 and 18.216.040.F.4 of the Development Code <br /> state that the amounts, calculation, and timing of payment of the affordable housing in-lieu fee <br /> shall be established by resolution of the Town Council; and <br /> WHEREAS, the Town Council on April 2, 2009 adopted Resolution 2009-13 to set the <br /> amount of the in-lieu fee and to establish guidelines and procedures for the administration of the <br /> affordable housing in-lieu fee program; and <br /> WHEREAS, Resolution 2009-13, Exhibit A states that the Town Council may modify the <br /> fee by resolution based on an annual review to determine if the fee should be updated based on <br /> changes to land costs, construction costs, Town affordable housing goals, and other relevant <br /> factors; and <br /> WHEREAS, based on a review of the housing in-lieu fee program completed by Bay <br /> Area Economics on March 2, 2011, it was determined by Town staff that the existing in-lieu fees <br /> should be modified by resolution to reflect current market conditions; and <br /> WHEREAS, the Town Council on September 1, 2011 adopted Resolution 2011-42 to <br /> update the affordable housing in-lieu fee and administrative guidelines and procedures and to <br /> establish an annual process for updating the in-lieu fee described in Exhibit C of the Resolution; <br /> and <br /> WHEREAS, the Town Council on September 11, 2012 adopted Resolution 2012-37 to <br /> update the affordable housing in-lieu fee and administrative guidelines and procedures and <br /> updated the annual process for updating the in-lieu fee described in Exhibit C of the Resolution; <br /> and <br /> WHEREAS, the Town Council on October 22, 2013 found the existing housing in-lieu <br /> fee program completed by Bay Area Economics is no longer reflective of the Truckee market <br /> and directed staff to research updated methods and indices for the future updates of the <br /> affordable housing in-lieu fee; and <br />