An updated version of the San Carlos Below Market Rate Housing Program was adopted by the City Council on February 22, 2010. In summary, the ordinance requires 15% of the units in residential ownership developments to be below market rate units. Developers may also pay a fee in lieu of providing units. The specific levels of affordability are specified in the ordinance. In addition, there is a Partial-Unit Fee for those developments that trigger a partial unit of less than .5. Lastly, there is some flexibility and several concessions offered to those providing on-site below market rate units. Please refer to the entire ordinance in the link below. Residential rental development is subject to an Affordable Housing Impact Fee resolution.
BMR: Chapter 18.200 and 18.204 - Ordinance 1416 (PDF or FlashPaper, 56 K)
Resolution 2010-029 Housing In Lieu Fees (PDF or FlashPaper, 2 MB)
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, 56 K) 