The San Mateo County Board of Supervisors adopted an Affordable Housing Impact Fee on June 7th. The new fee is applicable to residential and non-residential developments of certain types and sizes. The purpose of the fee is to offset the impact of new development on the need for affordable housing in San Mateo County; the fees will be collected in a dedicated trust fund used to finance affordable housing in the County.
Impact fees are imposed by jurisdictions on new development to provide new or expanded public facilities or services, such as roads, transit, parks, schools, and public safety facilities. As housing prices continue to rise and funding sources for affordable housing decline (most notably through the elimination of redevelopment funding), jurisdictions are increasingly looking to impact fees as a way to fund affordable housing.
Housing impact fees can be applied to either new residential or commercial development, or both. Once collected, impact fees will be used to help finance affordable housing, which is often built by nonprofit housing developers.
The County's new fee goes into effect on August 8, 2016. It only applies to developments in the unincorporated areas of the county. Any development project application not accepted as complete prior to August 8 will be subject to the fee, if applicable.
To review the fee schedule: http://planning.smcgov.org/documents/affordable-housing-impact-fee