Everett seeks to cut fees to boost affordable housing
EVERETT — It soon might get a little cheaper to build affordable housing in Everett.
The city is considering adopting changes to the fees it charges real estate developers, called impact fees, to provide more incentives for low-income housing.
Impact fees usually are levied on projects to raise money for improvements to roads, schools, parks and other public amenities.
David Stalheim, the city’s long-range planning manager, said staff took advantage of a review of impact fees to include a few measures targeting nonprofit developers. He helped create a similar measure when he worked for the city of Bellingham, he said.
“Part of the issue in particular with very low-income projects is the amount of dollars necessary to develop a project and keep rents affordable,” Stalheim said.
Reduced capital costs can be translated into lower rents or more units built, he said. Policies like this also help the city obtain matching funds from state and federal programs.
http://www.heraldnet.com/news/everett-seeks-to-cut-fees-to-boost-affordable-housing/
