Six housing projects planned for the broad downtown area would be subject to the city’s affordable housing requirements. Image: Google Maps Six housing projects planned for the broad downtown area would be subject to the city’s affordable housing requirements. Image: Google Maps Berkeley officials voted Tuesday night to reduce, temporarily, a fee required of developers in […]
Housing Trust Fund
The Housing Trust Fund is the money the city uses to build and support affordable housing projects in Berkeley. The money can be leveraged 4-to-1 to seek outside funding. Money generally comes into the fund when developers choose not to include affordable units within their projects, or who do not include the full number of those units. Rather than building on site, they can pay a fee into the city’s Trust Fund instead.
Posted inCity, Housing & Development, Schools
Council sets fee for affordable housing mitigation
A new mitigation fee gives developers flexibility on how to handle affordable housing requirements in Berkeley. Photo: Tracey Taylor Developers of new residential rental properties in Berkeley can now choose to pay into a special city fund instead of including on-site affordable housing after an 8-1 vote Tuesday by the City Council. It’s the latest […]
