If the development fee were levied on affordable housing developments, the raised cost would likely be passed on to student renters, which negates the mission of affordable student housing, said Cooperative Movement Senator Elliot Goldstein, a co-author of the bill, in an email.
Davidson said the staff recommendation for the exact amount for the development fee is $20,000 per market unit, but it could be higher or lower depending on how the council votes.
The revenue from the development fee will be placed in the city’s Housing Trust Fund, the city’s fund for affordable housing projects, according to the senate bill. The bill also asks for needed financial assistance from the fund for affordable student housing.
“As the cost of tuition continues to increase, it is critical that affordable housing be available to take some of the pressure off of the cost of living,” Goldstein said in the email.
Comment Policy
Comments should remain on topic, concerning the article or blog post to which they are connected. Brevity is encouraged. Posting under a pseudonym is discouraged, but permitted. The Daily Cal encourages readers to voice their opinions respectfully in regard to the readers, writers and contributors of The Daily Californian. Comments are not pre-moderated, but may be removed if deemed to be in violation of this policy. Click here to read the full comment policy.
