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Estimated LIHF Revenue From The Four Adjustment Options
<br /> Fee Category Option 1 Option 2* Option 3 Option 4
<br /> Single Family> 1,500 sq ft (1) $342,816 $342,816 $377,088 $891,872
<br /> Single Family< 1,500 sq ft $0 $0 $0 $0
<br /> Multi-Family $0 $0 $0 $0
<br /> Commercial/Office/Industrial (2) $96,220 $96,220 $102,000 $158,780
<br /> TOTAL $439,036 $439,036 $479,088 $1,050,652
<br /> (1)Assumes 32 units
<br /> (2)Assumes 34,000 square feet
<br /> Regarding the fees for neighboring communities, included as Attachment 4 is staff's
<br /> review of fees in place for the surrounding communities of San Ramon, Dublin, and
<br /> Livermore. The fee estimates are based on staffs best attempt to calculate fees.
<br /> However, each community has its own process and the attached reflects a general
<br /> amount rather than the actual. A summary of the fees are as follows:
<br /> Comparison of Estimated Typical Residential Development Fees
<br /> Development Type Pleasanton Livermore Dublin San Ramon
<br /> Single Family(2,000 sf) $98,593 $86,086 $99,429 $86,299
<br /> Multi-Family(2BDR) $65,688 $62,191 $69,292 $64,932
<br /> In addition to the pro forma based financial analysis, the Report includes a survey of
<br /> regional affordable housing fees which, as indicated on page 4 and 5 of the feasibility
<br /> document, ranges from a high of $53,392 (San Carlos) to low of $2,500 (San Ramon)
<br /> for single family units and a high of $22.83/sq ft (San Francisco) to a low of $1.00/sq ft
<br /> (San Ramon) for commercial. Regarding the survey data, as can be expected, different
<br /> communities set their fees for various purposes within the context of their overall fee
<br /> structure, and the survey data included in the Report should be viewed as a guideline
<br /> rather than an absolute.
<br /> Staff Fee Recommendation
<br /> As indicated previously, the City's Lower Income Housing Fund has an estimated
<br /> uncommitted balance of approximately $7.9 million available to support the City's
<br /> affordable housing programs as set forth in the Housing Element, Council policy and the
<br /> City Budget and as such, there is not an immediate shortfall of funding to meet City
<br /> needs. Further, the City does not subsidize any portion of the planning or plan review
<br /> process with General Fund revenues as is the case with the processing of development
<br /> application, plan check and inspections. As a result of this situation, a case can be
<br /> made for no fee adjustment regardless of the Report's justification for a fee adjustment.
<br /> Notwithstanding the above, the City' production of affordable housing and
<br /> implementation of programs for households with limited incomes are both well below the
<br /> targets set in the Housing Element, and this situation can be viewed as an indication of
<br /> the need to be doing more, perhaps significantly more, in the area of affordable
<br /> housing. Viewing new development as an example, the recent California Center, St.
<br /> Anton, Auf der Maur, and Bernal Gateway developments were approved for 1,125 units
<br /> Page 10 of 12
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