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Monday, Jun 5, 2023

Developer fees to be revisited

CITY HALL , To ease fears caused by a weak, unstable market, city officials today will consider reducing the amount of fees developers can pay in lieu of including affordable housing units in their projects. Five developments proposed for the San Fernando Road Corridor Redevelopment area totaling 823 units could be affected by any move the City Council, together with the Housing Authority, makes today to amend the current policy, in which developers can pay into a city-administered housing fund rather than include affordable units. Since adopting the in-lieu fee option in 2004, no fees have been collected for the fund, which would be used to subsidize affordable housing in other parts of the city in proportion to 15% of the total amount of new units built within the redevelopment project area. For the full story visit www.glendalenewspress.com/articles/2008/08/19/news/gnp-fees19.txt

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