Title
Planning and Building Department, Affordable Housing Unit, and the Department of Transportation recommending the Board:
1) Receive presentation on Policy B-14, Traffic Impact Fee Offset Program for Development with Affordable Housing Units, including a discussion on additional modifications to the Policy as recommended by the Affordable Housing Task Force and County Departments;
2) Recommend the Board approve and adopt the discussed revisions and edits to Board Policy B-14;
3) Direct staff to return to the Board with final edits to the Policy; and
4) Direct staff to work with the Chief Administrative Office to revise the Policy B-14 Procedure Manual based on the adopted revised Policy.
FUNDING: Federal and State Transportation Grant Revenues - 100%.
Body
Discussion / Background
Traffic Impact Mitigation Fee Offset Program Policy B-14 Background
On December 11, 2007 (Legistar File 07-1822), the Board of Supervisors (Board) adopted Policy B-14 (Policy), establishing the Traffic Impact Mitigation Fee Offset Program - now known as the Traffic Impact Fee (TIF) Offset Program (Program). This Program was created to support the development of affordable housing by offering targeted fee offsets to eligible projects and ensuring that County resources are applied to the most effective efforts to meet local housing needs.
Under the current Policy, the Program allocates $1 million annually from Federal and State transportation grants to offset TIF costs for qualifying affordable housing developments of five (5) or more units where at least (20%) of the units will be affordable, as well as for homeowners building ADUs. This Program does not waive the TIF owed by approved projects but backfills the offset fees with Federal and State grant money. Importantly, the offsets are not cash subsidies. Currently, approved rental projects must enter into an Affordable Housing Agreement (AHA), which deed-restricts the units to ensure they remain income-restricted for a minimum...
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