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Menlo Park BMR Policy and Guidelines

From: domainremoved <Julie>
Date: Tue, 13 Mar 2018 14:16:01 -0700

Dear Mayor Ohtaki and Esteemed City Council Members,

We are glad you are studying the Below Market Rate Inclusionary Zoning
policy this evening. Here are some thoughts to consider:

   - With land so scarce, and housing costs so high, we believe it is time
   to incent developers to include affordable units in every development,
   whether ownership or rentals.

   - Move quickly to require more affordable housing. We would like to see
   between 15% and 30% of new rental units in developments of 20 units or more
   be offered at a stepped AMI rate between 30-70% AMI .

   - Our goal is more affordable housing stock. We want actual BMR units
   to be built (rather than fees to accumulate) by setting the in-lieu fees at
   a cost sufficient to pay for development of those same units in a
   comparable alternate location. That is, at construction plus land
   acquisition cost.

   - Make construction of on-site BMR units a pre-condition for applying
   for "bonus level" development agreements.

As a reminder, displacement is happening every day in our city and it is
important for Menlo Park to innovate creative solutions for the greater
housing crisis.

Julie Shanson, Cecilia Taylor and Annielka Perez
Belle Haven Action

Julie Shanson
*Communications Manager*
Received on Tue Mar 13 2018 - 14:18:27 PDT

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