The City Council voted to raise the affordable housing linkage fee last week. The per square foot rate will increase to $12 from $9.53. The fee revenue helps to create and preserve affordable housing in the City.
Staff had proposed a $15 per square foot fee and some members of the City Council argued even that wasn’t adequate. Council members Morzel, Weaver, and Young voted against the ordinance for that reason.
In the end, however, a majority of Council members supported the $12 proposal suggested by the Boulder Chamber and Boulder Housing Partners, probably because of fear that only big businesses would build in Boulder if the fee was increased. Staff says the linkage fees comprise 5 percent of the funding for affordable housing projects.
IRES MLS: Come Home to Colorado 