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File #: 20-6808    Version: 1 Name:
Type: Public Hearings Status: Adopted
File created: 1/3/2020 In control: City Council
On agenda: 5/19/2020 Final action: 5/19/2020
Title: Subject: Cupertino BMR Housing Program Update: Below Market Rate (BMR) Residential Housing and Commercial Linkage Fees Update and Recommendations; Discussion of Related Housing Solutions, Including Opportunities to Increase Housing Supply for Extremely Low-Income Households and Approaches to Encourage BMR Housing Production by Non-Residential Land Uses Application No(s).: CP-2019-01; Applicant(s): City of Cupertino; Location: Citywide
Attachments: 1. Staff Report, 2. A – Draft Resolution Amending BMR Housing Mitigation Procedures Manual, 3. B - Draft Resolution Amending Housing Mitigation In-Lieu Fees, 4. C - July 2019 Economic Feasibility Analysis prepared by Strategic Economics, 5. D – July 2019 Response to LeSar Development Consultants Peer Review, 6. E – February 2020 Keyser Marston Peer Review, 7. F – December 2019 Supplemental Memorandum from Strategic Economics, 8. G – November 2019 Memorandum on Options to Increase the Supply of ELI Housing from Goldfarb & Lipman, 9. H - Below Market Rate Housing Mitigation Procedures Manual redlined

Title

Subject:  Cupertino BMR Housing Program Update: Below Market Rate (BMR) Residential Housing and Commercial Linkage Fees Update and Recommendations; Discussion of Related Housing Solutions, Including Opportunities to Increase Housing Supply for Extremely Low-Income Households and Approaches to Encourage BMR Housing Production by Non-Residential Land Uses

Application No(s).: CP-2019-01; Applicant(s): City of Cupertino; Location: Citywide

 

Recommended Action
Conduct the public hearing and:
1) Adopt Resolution No. 20-055 attached as Attachment A, amending the Below Market Rate (BMR Housing Mitigation Program Procedural Manual (Housing Mitigation Manual) to increase the affordable housing (BMR) requirement for ownership projects from 15% to 20%, and to make other conforming changes consistent with State law;
2) Adopt Resolution No. 20-056 attached as Attachment B, amending the Housing Mitigation In-Lieu Fees to increase the fees for offices, research and development, and industrial space to $30 per square foot and the fees for hotels to $15 per square foot;
3) Receive the report on Housing Solutions, Including Opportunities to Increase Housing Supply for Extremely Low-Income Households and Approaches to Encourage BMR Housing Production by Non-Residential Land Uses and provide further direction to Staff