HomeMy WebLinkAbout11-13-17 City Commission Packet Materials - C4. Affordable Housing Impact Fee Support for The Lakes at Valley West
Commission Memorandum
REPORT TO: Mayor and City Commission FROM: Chris Saunders, Community Development Manager Martin Matsen, Community Development Director SUBJECT: Affordable Housing impact fee support - The Lakes at Valley West Subdivision MEETING DATE: November 13, 2017
AGENDA ITEM TYPE: Consent RECOMMENDATION: That the City Commission approve impact fee support from the affordable housing fund for up to four lots in the Lakes at Valley West subdivision dependent on proof of sale to an income qualified household with appropriate recapture of housing support per
the affordable housing administrative manual.
RECOMMENDED MOTION LANGUAGE (if moved to Action Agenda): Having reviewed and considered the staff memorandum, application materials, public comment, and all the information presented, I hereby move to approve impact fee support from the affordable housing
fund for up to four lots in the Lakes at Valley West subdivision dependent on proof of sale to an
income qualified household with appropriate recapture of housing support per the affordable housing administrative manual.
BACKGROUND: Four phases of the Lakes at Valley West Subdivision (LVWS) were platted prior to the effective date of the affordable housing requirements in Article 38.43, BMC. The
LVWS project includes a mix of housing types and lot sizes. Providing options for more affordable
housing has been an argument in application and review of planned unit development for the LVWS.
There are two future phases remaining in LVWS where compulsory affordable housing will apply. The owners of LVWS wish to begin construction of qualifying affordable homes for sale to
qualifying households in the earlier phases which have received final plat. These homes will be
counted towards the obligation for phases 5 and 6. They are working with HRDC to identify qualifying persons and have identified candidates. They have submitted building permits for four homes. Impact fees are the same for all four homes. The amount due for each home is listed under Fiscal Effects.
102
Page 2 of 3
The four properties for which impact fee support is requested are 5583, 5575, 5567, and 5557
Arnhem Way. Financial support for affordable housing is authorized under Sections 2.06.1700.H and 38.43.040, BMC. Under the provisions of 38.43.040 for incentives and 38.43.160 recapture of subsidies the down payment assistance and impact fee support is required to be repaid on sale of the property. The necessary agreement will be recorded with the sale. The affordable housing administrative manual describes the necessary agreements.
The CAHAB reviewed this proposal and recommended approval of the funding.
UNRESOLVED ISSUES: None identified.
ALTERNATIVES: None suggested or proposed.
FISCAL EFFECTS:
Fire Impact Fee $178.33
Sewer Impact Fee $673.15
Street Impact-Gen $2,932.39
Water Impact Fee $1,298.02
Total impact fees for all four homes is $20,327.56. Upon sale, the fees will be repaid to the City. The current fund balance for the affordable housing fund is $476,872. The City appropriated
200,000 in the current fiscal year for support of affordable housing.
103
Page 3 of 3
Report compiled on: November 6, 2017
Attachments: Request for Impact fees Floor plans and elevations
104
105
106
107
108
109
110
111
112
113
114