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File #: 20-1316    Version: 1
Type: Agenda Item Status: Approved
File created: 9/29/2020 In control: Board of Supervisors
On agenda: 11/17/2020 Final action: 11/17/2020
Title: Chief Administrative Office and the Planning and Building Department, in accordance with Board of Supervisors Policy B-14, Traffic Impact Mitigation (TIM) Fee Offset Program for Developments with Affordable Housing Units, recommending the Board: 1) Find that the Diamond Village Apartments project provides significant community benefit by providing housing that is affordable to very-low, low- and moderate-income households; 2) Award a TIM Fee Offset totaling $1,065,474; and 3) Authorize the Planning and Building Department Director to execute all documents associated with the TIM Fee Offset Program. FUNDING: Federal and State transportation revenues.
Attachments: 1. A - Recommendation to CAO, 2. B - TIM Fee Offset Program Summary, 3. C - TFO Application Diamond Village, 4. D - DS Village Extension Award Letter to 2021, 5. E - Policy B14 - TIM Fee Policy Revised, 6. F - TIM Fee Offset Program Procedure Manual Final 2017
Related files: 07-1822, 12-1163
Title
Chief Administrative Office and the Planning and Building Department, in accordance with Board of Supervisors Policy B-14, Traffic Impact Mitigation (TIM) Fee Offset Program for Developments with Affordable Housing Units, recommending the Board:
1) Find that the Diamond Village Apartments project provides significant community benefit by providing housing that is affordable to very-low, low- and moderate-income households;
2) Award a TIM Fee Offset totaling $1,065,474; and
3) Authorize the Planning and Building Department Director to execute all documents associated with the TIM Fee Offset Program.

FUNDING: Federal and State transportation revenues.
Body
DISCUSSION / BACKGROUND
Board Policy B-14, Traffic Impact Mitigation (TIM) Fee Offset Program for Developments with Affordable Housing Units sets aside $1 million of federal and state transportation revenues annually to be used to offset TIM fees for the development of affordable housing.

Developers of new affordable housing projects with five or more units seeking the TIM Fee Offset have an opportunity to submit applications subject to review by the TIM Fee Offset Review Committee (Committee). The Committee recommendation is submitted to the Chief Administrative Officer (CAO) and referred to the Board for approval (Attachment A).

The Diamond Village Apartments (Project) was submitted for recertification of an award previously approved by the Board of Supervisors on February 14, 2017, which after two extensions is set to expire February 14, 2021. In the event that the start of construction is delayed beyond February 14, 2021, the developer submitted a new application to ensure the TIM Fee offset is in place for existing and future state and federal financing purposes. The Diamond Village Apartments project received entitlements from the Planning Commission in September 2019, and plans to start construction in Spring 2021.

The Project is an affordable 81-unit workforce housing multi-family rental ...

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