Title
Chief Administrative Office recommending the Board make a finding that specific projects will provide a significant community benefit by providing housing that is affordable to very low-, low-and/or moderate-income households and award Traffic Impact Mitigation (TIM) Fee Offsets totaling $399,520 in accordance with Board Policy B-14.
FUNDING: Traffic Impact Mitigation Fees.
Body
BUDGET SUMMARY:
Total Estimated Cost $399,520
Funding
Budgeted $399,520
New Funding $
Savings $
Other $
Total Funding Available $399,520
Change To Net County Cost $0
Fiscal Impact/Change to Net County Cost: There is no impact to Net County Cost for the offset of these TIM fees. After the award of these offsets, there would be $1,771,390 remaining in the TIM Fee Offset program. A summary of the TIM fee offsets from inception of the program is attached.
Background: On December 11, 2007, the Board adopted policy B-14, Traffic Impact Mitigation (TIM) Fee Offset Program for Developments with Affordable Housing Units. The TIM Fee Offset Committee considers requests from developers twice each year from January 20 through February 28 and July 30 through August 28. The TIM Fee Offset Committee convened for the fifth round of applications that closed on January 15, 2010.
Four applications were submitted this round requesting a total of $399,520 in TIM fee offsets. Three applications are for second dwelling units on owner occupied parcels, one located in El Dorado Hills (Zone 8, Supervisorial District 1), and two located in the Placerville area (Zone 3, Supervisorial District 3). The fourth application is for a multi-family residential low- to moderate-income affordable home ownership development located in Cameron Park (Zone 2, Supervisorial District 1). The committee reviewed and discussed the applications, rating each on criteria established by Board policy.
Reason for Recommendation: Based on th...
Click here for full text