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6.2MEETING DATE: TO: FROM: SUBJECT: November 26, 2019 Honorable Mayor and Council Members Yumie Dahn, Associate Planner AGENDA ITEM __ _ Affordable Housing In-Lieu Fee Update ~ APPROVED BY l ~ Jeff Loux, T wn Manager RECOMMENDATION: Adopt Resolution No. 2019-68 to maintain the previously approved 2018 affordable housing in-lieu fee amount. DISCUSSION: At the November 12, 2019 Town Council meeting, the Town Council reviewed a proposed affordable housing in-lieu fee based on the 2017 adopted short-term calculation process. The proposed 2019 in-lieu fee was 13.2% less than the 2018 in-lieu fee. The decrease was due to a significant increase of the Nevada County Income Limits from $73,500 to $85,100, a 15.8% increase. The Town Council found the increase in the Nevada County Income Limits did not accurately reflect the community's ability to obtain housing and that a decrease in the affordable housing in-lieu fee was not appropriate given the increasing housing costs. Therefore, the Town Council determined that the 2018 approved affordable housing in-lieu fee of $93,783 should remain in effect. The Town Attorney reviewed the adopted 2018 affordable housing in-lieu fee resolution (Resolution 2018-76) and determined that the resolution should be amended to allow the Town Council to continue an existing affordable housing in-lieu fee. Attachment #1 provides the updated resolution, which maintains the 2018 fee. FISCAL IMPACT: Adoption of Resolution 2019-68 will not have any direct fiscal impacts on the Town. The costs of applying the resolution to individual projects will be borne by the project applicants, and the Town will collect an administration fee of $60 per payment to recover Town costs associated with assessment, payment, and collection of an in-lieu fee. PUBLIC COMMUNICATIONS: Public communications of this agenda item was discussed in the November 12, 2019 staff report. ATTACHMENTS: 1. Draft Council Resolution No. 2019-68 Town Council Staff Report Page 1 Page 1 of 10