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HomeMy WebLinkAboutTC Res 2004-01-21 (2) / ,~ '" -- RESOLUTION NO. 03-2004 A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF TIBURON MAKING CERTAIN FINDINGS REGARDING FEES COLLECTED FOR AFFORDABLE HOUSING PURPOSES The Town Council of the Town ofTiburon does hereby resolve as follows: WHEREAS, the Town of Tiburon has collected housing in-lieu fees since adoption of Ordinance No. 339 N.S. in November of 1988, prior to legislation regarding annual fee reporting. Pursuant to the California Government Code, the Town Council may be required to make certain findings relative to unexpended funds collected for in-lieu housing purposes on a five-year basis; and WHEREAS, the Town has prepared such documentation regarding the housing in-lieu fees and such documentation has been available for public review for at least fifteen days, and WHEREAS, the Town Council received the documentation in the form of a Staff Report prior to its meeting of January 21,2004 and held a public hearing on the matter on __ January 21, 2004. NOW, THEREFORE, BE IT RESOLVED, by the Town Council of the Town of Tiburon does hereby make the following findings relative to its unexpended housing in-lieu fees. 1. Purpose of the Fees. The Town Council fmds that the purpose of the housing in lieu fees is to enhance the public welfare by ensuring that further housing development contributes to the attainment of the Town's General Plan Housing Element goals, policies and programs by (1) increasing the stock of dwelling units accessible to the handicapped; (2) increasing the stock of dwelling units affordable by households of low or moderate income; and (3) requiring housing in-lieu fee contributions for the production or preservation of affordable units. Revenues collected (including interest earned) shall be used for the following purposes: a. Design and construction of permanently affordable units. b. Other actions which would directly preserve, couserve, rehabilitate, or increase the supply of affordable units in the Tiburon Planning Area. The aforementioned goals, policies, and programs are found in the Tiburon General Plan Housing Element, copies of which are available at Town Hall. /~ Tiburon Town Council Resolution No. 03-2004 Adopted on 1/21/2004 Page 10[3 .' - 2. Reasonable Relationship Between the Fees and the Purpose for whieh they are Charged. Housing in-lieu fees are calculated on the basis of the difference between the affordable purchase price of a dwelling unit for which a moderate income family (earning 80% of median income) can qualify, and the estimated cost of constructing a market rate unit of appropriate size. The Town Council finds that the justification and the mechanism for calculating fees are adequately set forth in Chapter 14B and in Chapter 16, Section 6 of the Tiburon Municipal Code, which is available for public review at Tiburon Town Hall. 3. Sourees and Amounts of Funding Antieipated to Complete Finaneing of Improvements. a. The Town Council fmds that affordable housing projects constructed in southern Marin County are generally required to be heavily subsidized in order to be economically feasible. This is primarily due to very high land and development costs, although other factors, such as environmental sensitivity, also playa role. For example, in order to create four (4) very low income units at the Chandlers Gate project in 2002, the Town of Tiburon provided a subsidy of $800,000 to the developer. Low-income or moderate-income units typically require smaller per unit subsidies. - b. The Town Council finds that the creation of affordable housing units is an ongoing process, largely driven by the State of California's. affordable housing policies as implemented through the Housing Element revision and regional fair share allocation processes. The Town has prepared a draft Housing Element, anticipated to be adopted in 2004, which will identify a new list of affordable housing opportunity sites upon which housing in-lieu fees are anticipated to be expended. The draft Housing Element is available for review at Tiburon Town Hall. c. The Town Council finds that the Town of Tiburon housing in-lieu funds, while helpful to the financing of affordable housing projects, are by no means constitute the primary funding source for such projects. The Town is reliant on other property owners for its affordable housing sites as it does not own any of these sites. Many other sources offunding are typically used in the production of affordable housing developments, which dwarf any subsidy provided by the Town's housing in-lieu fund. The Town Council therefore further finds that the collection and expenditure of housing in-lieu fees is an ongoing process for which the funding on hand ($1.28 million) will not be sufficient to insure actual production of affordable housing sufficient to meet the Town's regional fair share housing allocations. Therefore, the sources and amounts of funding anticipated as necessary to complete the financing of affordable housing improvements are unknown and will vary from project to project. ~ Tiburon Town Council Resolution No. 03-2004 Adopted on 1121/2004 Page 2 of3 -- 4. Approximate Dates When Necessary Funding is Anticipated to be Deposited. As stated above, the production of affordable housing is an ongoing process. The Town Council finds that housing in-lieu funds collected will be expended toward the purposes stated above and will be used in a timely fashion as new affordable housing project sites are identified and development is pursued. The Town Council anticipates that all funds currently in the Town's in-lieu housing fund that are subject to the provisions of Government Code Section 66000 et seq. will be expended within four to five years. In adopting this resolution, the Town Council neither admits nor implies that the above findings are required by law for its housing in-lieu fees. PASSED AND ADOPTED at a regular meeting of the Town Council of the Town ofTiburon, State of California, held this 21st day of January, 2004, by the following vote: AYES: COUNCILMEMBERS: Berger, Fredericks, Slavitz, Smith NOES: COUNCILMEMBERS: None r- ABSENT: COUNCILMEMBERS: ALICE FREDERICKS, MAYOR TOWN OF TIBURON S:Town Councillstaffreportslhousing in-lieu fees 2004 reso.doc ,,-.. Tiburon Tawn Council Resolution No. 03-2004 Adopted on 1/21/2004 Pagd 0[3