Tag Archives: Housing
Berkeley officials voted Tuesday night to reduce, temporarily, a fee required of developers in hopes of both replenishing a city fund for affordable housing and curtailing building heights in projects planned to buffer downtown.
The Berkeley City Council has, for quite some time, grappled with how to build up its affordable housing stock. Developers in Berkeley are required to provide a certain amount of affordable housing, either by paying into a city fund that’s used to build this housing elsewhere, or by including below-market-rate units in their projects.
If they elect to pay rather than build, the money goes into the city’s Housing Trust Fund. The fund was established in 1990 to pool available federal, state and local money for these projects. Some officials have said the city might be able to build more units, as compared to what private developers would produce, if developers pay into the public fund. … Continue reading »
Developers of new residential rental properties in Berkeley can now choose to pay into a special city fund instead of including on-site affordable housing after an 8-1 vote Tuesday by the City Council. It’s the latest step by City Hall to create policies that will increase Berkeley’s affordable housing stock.
But whether developers will choose to pay the fee remains to be seen, and some members of the City Council caution that setting the fee too high could have unintended, unavoidable, consequences for future projects.
The city requires developers of new market-rate rental properties to make one of their units affordable — to households earning 50% or less of the region’s median family income — for every 10 market rate units. This means that the units would have to be affordable, for example, to a family of three in Berkeley making $42,100 or less. … Continue reading »