Last month, SV@Home submitted a letter to the Los Altos City Council advocating for significant reductions in Development Impact and In-Lieu Fees for affordable housing projects. These fees contribute to covering the costs of public facilities required by new developments, including parks, transportation networks, public safety facilities, and public art installations. However, while these fees are crucial for maintaining service levels as the city grows, they pose financial challenges for affordable housing projects to remain viable.
Several neighboring cities have already adopted fee reductions, setting a precedent that Los Altos could follow:
- Mountain View: 100% reduction in impact fees for 100% affordable projects and all BMR inclusionary units.
- Palo Alto: 100% reduction in impact fees for 100% affordable projects and public art fee exemptions for inclusionary BMR units.
- Sunnyvale: 100% reduction in park fees for 100% affordable projects and all BMR inclusionary units.
- San Jose: 50% reduction in park fees for 100% affordable projects and all BMR inclusionary units.
These policies have proven effective in reducing financial burdens on developers and encouraging the construction of affordable housing. We strongly recommend that the Los Altos City Council consider similar reductions to promote affordable housing development and address the ongoing housing crisis. By adopting these measures, Los Altos can foster a more inclusive community and support sustainable growth.