Below Market Rate Housing Program
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 unless an alternative plan is approved.