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HomeMy WebLinkAboutOrd 1283 and Res 2015-27 - Ch 3.47 - Affordable Housing Impact FeeCITY OF PALM DESERT DEPARTMENT OF COMMUNITY DEVELOPMENT STAFF REPORT REQUEST: ADDITION OF CHAPTER 3.47 "AFFORDABLE HOUSING IMPACT FEE" TO THE PALM DESERT MUNICIPAL CODE TO ESTABLISH AN AFFORDABLE HOUSING FEE FOR NEW RESIDENTIAL DEVELOPMENT WITHIN THE CITY OF PALM DESERT SUBMITTED BY: Lauri Aylaian, Director of Community Development APPLICANT: City of Palm Desert 73-510 Fred Waring Drive Palm Desert, CA 92260 DATE: April 23, 2015 CONTENTS: 1. Ordinance No. 1283 2. Resolution No. 2015- 27 3. Exhibit "A": Nexus -Based Affordable Housing Fee Analysis for Rental Housing dated April 2, 2015, by Economic & Planning Systems, Inc. 4. Exhibit "B": Nexus -Based Affordable Housing Fee Analysis for For - Sale Housing dated April 2, 2015, by Economic & Planning Systems, Inc. 5. Exhibit "C": Memorandum dated March 18, 2015, from Darin Smith and Martin Romo, Economic & Planning Systems, Inc., regarding Implementation Considerations for Palm Desert Affordable Housing Impact Fees 6. Estimate of Costs for the City of Palm Desert Affordable Housing Program as Approved in Housing Element Adopted for 2014-2021, dated April 13, 2015 7. Computation of Potential Fee Revenue, 4 pages, undated 8. Legal Notice Recommendation Waive further reading and: 1. Approve and file the Nexus -Based Affordable Housing Fee Analysis for Rental Housing and the Nexus -Based Affordable Housing Fee Staff Report Affordable Housing Impact Fee Page 2 of 9 April 23, 2015 Analysis for For -Sale Housing, both dated April 2, 2015, and by Economic & Planning Systems, Inc., and together the "Nexus Study." 2. Pass Ordinance No. 1283 to second reading approving the addition of Chapter 3.47 "Affordable Housing Impact Fee" to the Palm Desert Municipal Code. 3. Adopt Resolution No. 2015- 27 establishing a fee of $2.00 per gross square foot as the Affordable Housing Impact Fee for new residential development in the City of Palm Desert. Executive Summary Approval of the staff recommendation will implement a new fee on residential development, balancing two long-standing goals of the City of Palm Desert: providing housing that is affordable to the city residents who work in service -industry jobs, and remaining development -friendly to builders in the community. The proposed fee will offset a portion of the revenue stream that was lost when the State eliminated redevelopment tax increment funding, and will lessen the burden that new market -rate residential development imposes on affordable housing in Palm Desert. Background The structure of this report is organized so as to break a relatively complex subject down into components that, together, will describe the need for affordable housing in the Palm Desert, the resources available to meet that need, and the large gap that exists between the two. It will then describe the mechanism —a fee —available to the City to help close the gap between needs and available resources, and how such a fee must be tempered so as to respect the competing interests in the City as a whole. Finally, the report will include an analysis of the magnitude of revenue the fee would generate and how that revenue would be used to most effectively address the original need. The Need The median home sales price in Palm Desert is currently $329,700. To be able to afford a home of this value, an individual or a family would have to have an annual income of approximately $75,000. This income is 30% more than a teacher with a Bachelor of Arts degree earns in Desert Sands Unified School District, even at the highest step in the pay schedule. It's more than a Palm Desert police officer makes until he or she reaches the 9th step in a 13-step salary schedule. And it's over 70% more than a registered nurse earns at Eisenhower Medical Center. \\srv-fil2k3\groups\Planning\Laun Aylaian\Staff Reports\Affordable Housing Impact Fee 4-23-15.doc Staff Report Affordable Housing Impact Fee Page 3 of 9 April 23, 2015 The average rent for a two -bedroom apartment in Palm Desert approaches $1,000 per month, which is affordable to a household earning $40,000 annual —more than the entire salary of two full-time retail clerks or minimum wage workers. This situation is likely part of the reason why the US Census Bureau reports that 9.8% of Palm Desert residents lived below the poverty level in 2009-2013. The numbers and examples given here are for Palm Desert, but they reflect the conditions in a number of the cities in the Coachella Valley. What sets Palm Desert apart from the others are two things: 1) the number of retail and hospitality jobs in Palm Desert is far greater than other Valley cities; and 2) Palm Desert's affordable housing program is far more aggressive and more closely managed than that of other Valley cities. Palm Desert has historically put a strong emphasis on providing a variety of housing options at a range of prices. This is best illustrated by the fact that 1,867 of 37,409 housing units —both single family homes and apartments —in the city have affordability covenants in place to assure that there are affordable homes for those who do not earn enough to buy or rent at the market rate. This equates to 5% of the existing housing stock in the City being designated as affordable housing. Important in consideration of the need for future housing in Palm Desert is the city's expected growth. Current business development activity is focusing on opportunities to grow the hotel and hospitality sectors, as well as higher education opportunities near the university campuses. The targeted hospitality and education sectors both look for a reliable work force, and they both benefit when their workers are engaged and active in their own community. Students who need to work while they attend school need nearby residential options in order to juggle school and jobs simultaneously. And hospitality workers who can visit their children's schools during their lunch break or after their shift are able to participate in athletic and academic events on a regular basis. They don't need to split their loyalties or their dedication between the place where they live and the place where they work. In addition, the build out of the City will add a large number of market -rate dwelling units, including homes, condominiums, and apartments. At projected densities, Palm Desert should see 3,351 to 4,469 more market -rate units constructed, as demonstrated on the vacant land inventory in the Computation of Potential Fee Revenue attached to this staff report. Each of these dwelling units will be occupied by people whose needs will be filled by retail sales clerks, restaurant servers, nurses, teachers, beauticians, gardeners, bank tellers, and a host of others who earn less than is needed to afford to buy or rent an appropriate home in Palm Desert. As such, the development of new market -rate housing in Palm Desert will burden the City beyond what is identified in the Estimate of Costs attached to this report. The quantification of this additional need is the subject of the Nexus Study discussed in detail later in this report. \\srv-fil2k3\groups\Planning\Laun Ay aian\Staff Reports\Affordable Housing Impact Fee 4-23-15.doc Staff Report Affordable Housing Impact Fee Page 4 of 9 April 23, 2015 Available Resources The loss of redevelopment in 2011 has had a significant and adverse impact on the City of Palm Desert's ability to pursue the production of affordable housing. Between 1998 and 2011, the City produced approximately 1,000 affordable housing units, an average of 77 units annually. However, in the four years since the dissolution of redevelopment, the City has produced no new affordable housing. While 20% of the tax increment monies coming into the Redevelopment Agency were allocated to affordable housing, the City is now reduced to relying upon the money in the Housing Mitigation Fee account. This account is funded from a 1 % fee levied on new commercial construction projects in the City; no such fee has ever been levied on residential development. The fee was established in 1990 for "low income housing." The concept behind the fee is that when new commercial projects are built in the City, they bring new employees to fill the jobs they create. Since so much of Palm Desert's commercial development is retail in nature, many of the employees are earning relatively low wages that require subsidy in order for the workers to live in the City. The current balance in this fund is approximately $2,437,700. The Low Income Housing Fee charged to commercial development should generate approximately $5.1 million of revenue to the Housing Mitigation Fee account between the present date and the time, assumed to be 20 years from now, when the City will be built out. The Gap The affordable housing gap springs from two sources, the need that exists today and the need that will occur as the City is built out over the course of the next 20 years. The amount of the gap, then, must be quantified for the current need and for the future need. To quantify the need that will accrue as the City is built out, a nexus -based study was undertaken. That study, which is discussed in greater detail below, determined the cost necessary to fully mitigate the impact that new market -rate housing has on Palm Desert's affordable housing demand. Applying those costs to the lowest end of the possible range of development densities for future growth, and assuming that the future single-family homes developed will have sales prices above $200,000 but less than $600,000 and that future rental units are split 25%, 50%, 25% respectively, between one -bedroom, two -bedroom, and three -bedroom units, yields the following gap: \\srv-fil2k3\groups\Planning\Laura Aylaian\Staff Reports\Affordable Housing Impact Fee 4-23-15.doc Staff Report Affordable Housing Impact Fee Page 5 of 9 April 23, 2015 Dwelling Unit Gap Quantity for Build -Out Total $200K SFH 13,406 270 $3,619,620 $400K SFH 22,940 810 $18,581,400 $600K SFH 33,182 270 $8,959,140 1-BDR APT 14,650 500 $7,325,000 2-BDR APT 15,772 1000 $15,772,000 3-BDR APT 20,969 500 $10,484,500 Total 4 741,660 In addition, the State of California requires that all cities and counties adopt a comprehensive general plan, and that this plan identify the cities' future growth in a number of areas, including housing. In fact, the mandatory Housing Element is the only component of the general plan that is required to be prepared, submitted to the State, reviewed, and approved on a specified interval. Palm Desert's Housing Element was last submitted and approved in 2013; the plan covers the years 2014-2021. In order to quantify the value of today's need for affordable housing in Palm Desert, an estimate of cost was prepared for the goals and programs identified in the Housing Element. This Estimate of Costs for the City of Palm Desert Affordable Housing Program as Approved in Housing Element Adopted for 2014-2021 is appended to this staff report, and totals approximately $112.6 million. A straight summation of the two amounts above —one for the need already identified in the current Housing Element and one for the affordable housing needs that will be incurred during build -out —is a simplistic approach to estimating the money required to meet Palm Desert's affordable housing needs. By its very nature, cost effective affordable housing is opportunistic, and it is especially so when considering a 20-year timeline. For this reason, it is important to be able to provide affordable housing through a variety of mechanisms. As the City is built out, there will be times when one approach to providing affordable housing is less expensive per unit than another, while a few years later the market conditions will yield opposite results. Additionally complicating the prediction of how cost effective affordable housing will be produced during the coming 20 years are the facts that distressed properties are a fundamental building block of affordable housing opportunities, and property owners may be reacting to life conditions rather than to market conditions when they sell. New tax incentives may be introduced that make it less expensive to build than to renovate apartments —or vice versa —or a glut of apartments may suddenly make it least expensive to buy affordability covenants in existing market -rate apartments. For these reasons, meeting Palm Desert's affordable housing needs will be best accomplished by pooling existing resources plus future revenues from the proposed fee, and applying them where they will most effectively yield the greatest impact on the goal of providing affordable housing. This can best be done by applying any available \\srv-fil2k3\groups\Planning\Laun Aylaian\Staff Reports\Affordable Housing Impact Fee 4-23-15.doc Staff Report Affordable Housing Impact Fee Page 6 of 9 April 23, 2015 funding to the affordable housing program as described in the currently adopted City of Palm Desert General Plan Housing Element. As a consequence of the forgoing, there will be a gap of $57,203,960 between the cost of the necessary affordable housing to meet the needs of future market -rate residential development and the revenue available to meet that need. Closing the Gap: A Fee City staff has worked for several years to fill the gap between need and available resources by working collaboratively with residential developers. A variety of non - monetary methods have been employed to encourage developers of market -rate housing to include an affordability component in their projects, all without meaningful results save for the recently approved Millennium master plan, whose affordable apartments won't be constructed for several years. It has become clear that subsidizing dwelling units to an affordable level comes at a price, and for -profit developers will not voluntarily lower their expected returns just to "do the right thing." Accordingly, City staff looked for an appropriate mechanism by which the City could develop a revenue stream that would replace some of the redevelopment tax increment money that was lost, and that would at least offset the burden that will result from the expected build out of the remainder of the market -rate residential development in the City. The resulting concept was the imposition of a fee, called an "affordable housing in -lieu fee" in some communities, which responds to the demand for affordable housing that is a direct result of market -rate housing, and which allows the assessing agency to produce the affordable dwelling units that are needed. Affordable Housing In -Lieu Fees have been established by a number of cities in California, most of which are in northern California and all of which have more expensive housing markets than does Palm Desert. To establish and adopt such a fee, a nexus study must be performed to determine the actual cost per dwelling unit of the impact of market -rate housing on the need for affordable housing; that amount is then set as the maximum amount that the City can charge per market -rate unit developed. The City can adopt any fee less than the maximum amount. Cities in California have adopted fees in amounts up to $29.79 per square foot, with the majority of fees ranging between $15 and $25 per square foot. A list of adopting cities and the amounts of their fees is contained in Exhibit C. The concept behind such a nexus -based fee is that it is possible to determine the income of buyers and renters of market -rate housing by working back from the amount of their loan or rent. From that inferred income amount, one can also calculate the discretionary income of the individuals, and attach that to a detailed spending pattern of persons in that particular income bracket. Once the amount spent on categories such \\srv-fil2k3\groups\Planning\Lauri Aylaian\Staff ReportsMordable Housing Impact Fee 4-23-15.doc Staff Report Affordable Housing Impact Fee Page 7 of 9 April 23, 2015 as dining out, entertainment, clothing, electronics, etc. is established, it can be applied to industry -wide data on the wages of each category of expenditures as a percentage of their gross revenue. This information is then converted into the number of jobs (or portions thereof) required to fill the needs of the buyer of a market -rate home of a certain value. And from there, the number of jobs generated is used to determine the number of new households that will be formed, which is the key to understanding just how many affordable housing units will be required to support a given number of market -rate dwelling units. This number, of course, is directly related to the value of the home or rental apartment. Someone who can afford to buy a million dollar home has a great deal more discretionary income than does the buyer of a $250,000 home, and needs more retail clerks, servers, and landscapers to support them than does the buyer of the less expensive home. Economic & Planning Systems, Inc. of Oakland, California, was retained to perform two nexus studies for the City. One study evaluated the impact of for -sale market -rate housing on the need for affordable dwelling units, while the second evaluated the impact of rental properties (apartments) on the same need. These two studies are attached as Exhibits "A" and "B," respectively, to this staff report and together are referred to as the Nexus Study. The Nexus Study determined that the maximum fee for for -sale units would range from $9.24 per square foot for homes costing $200,000 to $12.38 per square foot for homes selling for $1.2 million, and from $13.97 per square foot for three -bedroom apartments to $20.21 for studio apartments. Tempering the Fee Although a nexus study is necessary for a municipality establishing a new development fee, it is not in and of itself sufficient for establishing a fee. Cities such as Palm Desert are complex entities that have varied interests, policies, priorities, and financial conditions. What might seem reasonable when viewed through the lens of one policy objective could be at odds with actions taken in support of another policy objective. In this instance, it might appear appropriate to adopt a $10 to $15 per square foot fee to assure a supply of housing that is affordable to the many service industry employees who work in Palm Desert, yet doing so would undermine Palm Desert's efforts to bring construction -related jobs to the City, since such a fee could make the City's residential housing market more expensive than similarly built housing in other Valley cities that do not have this fee. Therefore, it is important to temper the findings of the Nexus Study with other considerations. In the weighing of considerations, it is important to acknowledge the interests of the residential developers and single family homebuilders in Palm Desert, all of whom will be opposed to an increase of fees charged for development here. However, it is also important to consider the interests of retailers, hoteliers, restaurant owners, skilled care givers, and businesses that employ clerical and technical workers, all of whom would \\srv-fil2k3\groups\Planning\Lauri Aylaian\Staff Reports\Affordable Housing Impact Fee 4-23-15 doc Staff Report Affordable Housing Impact Fee Page 8 of 9 April 23, 2015 welcome more housing opportunities for their employees in Palm Desert. A balance of interests must be achieved. To find this balance, a summary of considerations for Palm Desert Affordable Housing Impact Fees was prepared by Economic & Planning Systems, Inc.; it is attached to this report as Exhibit "C." This paper addresses a number of considerations, including the fact that Palm Desert is situated among many cities that charge no such fee, and that the housing and land values here are more modest than those found in other California cities that have adopted affordable housing fees. It concludes that a range of fees between $2.50 and $4.00 per square foot would be more appropriate and more financially viable than the fees necessary to fully mitigate the impact of new market -rate development on the need for affordable housing. The paper calculates the total development fees for three sample housing prototypes, and determines the fee expense as a percentage of land value, ultimately recommending an impact fee of only a few dollars per square feet, with the possible exception of the luxury home market, which could support higher fees. Conclusion and Recommendation After consideration of all information provided in the Nexus Study, the Implementation Considerations memo, the cost estimates, other potential revenue, and in light of Palm Desert's desire to be development -friendly by maintaining development fees that are not out -of -line with other cities in the Coachella Valley, staff finds that a fee of $2.00 per square foot is reasonable to impose on new market -rate housing. Because the addition of one or more bedrooms to an existing home increases the residential capacity of the home, which consequently increases the demand for service -industry workers to support the needs of the greater number of residents, the fee should apply to any home renovations or expansions that increase the number of bedrooms in the dwelling unit. Additionally, the fee should not apply to the development of, or addition to, any dwelling units that are subsidized so as to be affordable to families or individuals with restricted incomes. Environmental Review The establishment of an affordable housing impact fee constitutes the creation of a government funding mechanism that involves no commitment to a specific project, and therefore is a non -project in terms of CEQA Fiscal Analysis The estimate of potential revenue for an affordable housing impact fee of $2.00 per square foot applied to residential development through build -out of the City, assumed to be in 20 years, is $14.0 to $24.5 million, depending on the densities of future development and the \\srv-f12k3\groups\Planning\Laura Aylaian\Staff Reports\Affordable Housing Impact Fee 4-23-15.doc Staff Report Affordable Housing Impact Fee Page 9 of 9 April 23, 2015 sizes of dwelling units constructed. As discuss above, the revenue from this fee could be used most effectively to provide affordable housing through a variety of programs, such as those identified in the current Housing Element. These programs include purchasing and renovating existing, blighted housing units; purchasing extensions for affordability covenants that are set to expire in the near future; providing financial assistance to private developers for constructing and operating new multi -family dwelling units; etc. A detailed calculation of this potential revenue is attached to this report. Submitted By: Lauri Aylaian, Director of Community opment Reviewed: gd��M� Paul S. Gibson, Director of Finance M. Wohlmuth, City Manager \\srv-fil2k3\groups\Planning\Lauri Aylaian\Staff Reports\Affordable Housing Impact Fee 4-23-15.doc ORDINANCE NO. 1283 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PALM DESERT, CALIFORNIA, ADDING A CHAPTER TO THE CITY OF PALM DESERT MUNICIPAL CODE TO ESTABLISH AN AFFORDABLE HOUSING FEE FOR ALL NEW RESIDENTIAL DEVELOPMENT WITHIN THE CITY OF PALM DESERT THE CITY COUNCIL OF THE CITY OF PALM DESERT, CALIFORNIA, DOES ORDAIN AS FOLLOWS: WHEREAS, the City Council of the City of Palm Desert, California, held a duly noticed public hearing on the 23rd day of April 2015, to consider an affordable housing impact mitigation fee to be assessed against all new market rate residential development within the City; and WHEREAS, that at said public hearing, upon hearing and considering all testimony and arguments, if any, of all interested persons desiring to be heard, and after considering the staff report and its exhibits, the City Council found the following facts to justify their actions as described below: 1. There exists a shortage of very low, low, and moderate income housing within the city of Palm Desert and surrounding communities. 2. As the city is built out over the next twenty (20) years, the residents who move into the new market rate housing development will require goods and services that are produced, provided, and/or sold by persons who have service industry jobs, which are typically lower -paying jobs that do not compensate their employees highly enough that they can afford to live in market -rate housing in the city of Palm Desert. 3. The city of Palm Desert stands to benefit when there is a balance between jobs offered in the city and the housing provided therein: traffic is lessened when fewer workers need to commute in from other cities; parents work near to where their children attend school and can more easily engage in school -related activities; families can participate in more activities in their communities by virtue of spending less time commuting to and from work; and residents and visitors alike are serviced by people who are proud of Palm Desert, which is their home. 4. The City of Palm Desert understands the importance of continual planning for affordable housing and intends to encourage, in accordance with the approved Housing Element, the integration of affordable housing throughout the community by requiring that market -rate residential development be complemented with affordable dwelling units either within or adjacent to the market -rate units; the City is also prepared to accept payment of a reasonable impact fee in lieu of requiring that all market -rate developers simultaneously construct affordable dwelling units, when such requirement is not consistent with the goals and policies of the General Plan or is otherwise not feasible. ORDINANCE NO. 1283 5. The former City of Palm Desert Redevelopment Agency, which was the primary source of funding for Palm Desert's affordable housing program, was abolished by the State of California in 2011, leaving only nominal funding available through which the City can assist the private sector in the provision of subsidized affordable housing. 6. With sufficient funding, the City of Palm Desert can assist in providing affordable housing by: acquiring blighted housing stock, renovating it, and establishing affordability covenants on it; providing below -market rate interest loans to developers of affordable housing; providing land at reduced or no cost to not -for - profit affordable housing developers; purchasing extensions of affordability covenants on existing affordable units when those covenants are scheduled to expire; purchasing affordability on suitable existing market -rate dwelling units; and other means that will stabilize or increase the inventory of affordable housing stock in the city of Palm Desert. WHEREAS, the City Council considered the "Nexus -Based Affordable Housing Fee Analysis for Rental Housing" and the "Nexus -Based Affordable Housing Fee Analysis for For -Sale Housing," both dated April 2, 2015, and prepared by Economic & Planning Systems, Inc. of Oakland, California, and attached to the staff report as Exhibits "A" and "B," respectively, and referred to collectively as the "Nexus Study," which Nexus Study establishes the nexus between construction of new market rate housing and the need for affordable housing in the community, and which Nexus Study also demonstrates that affordable housing impact fees of $9.24 to $12.38 per square foot for for -sale housing units and $13.50 to over $20.00 per square foot for rental housing units would be needed to fully mitigate the impacts on the need for affordable housing of new market rate units with sales prices between $200,000 and $1.2 million; and WHEREAS, the nexus exists for all new residential construction, including any residential remodel or addition that increases the number of bedrooms, thereby increasing the capacity for residents, whether the new home or addition be a custom home or a tract of homes, and whether the home(s) be single family or multi -family; and WHEREAS, the City Council also considered the Memorandum regarding Implementation Considerations for Palm Desert Affordable Housing Impact Fees dated March 18, 2015, prepared by Economic & Planning Systems, Inc. of Oakland, California, and appended to the staff report as Exhibit "C," which recommends that affordable housing impact fees lower than the maximum permissible fees be adopted; and WHEREAS, the City Council desires to adopt and implement affordable housing impact fees for both residential rental development and residential ownership development, including for residential remodel or addition projects that increase the number of bedrooms in a residence, to mitigate the impact of this market rate development on the need for affordable housing, while ensuring that those market rate developments remain economically feasible; and WHEREAS, the proposed affordable housing impact fee is reasonably related to the impact resulting from the type of development upon which the fee will be imposed and the fees generated and will not exceed the reasonable cost estimate of the housing program. 2 ORDINANCE NO. 1283 The fee rate is projected to generate approximately $14.0 to 24.5 million of the total $112.6 million required to facilitate implementation of the goals and programs described in the currently adopted Housing Element of the City of Palm Desert Comprehensive General Plan, which is only 12.4 to 21.8% of the total program mitigation costs. NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Palm Desert, California, does hereby determine that it is in the public interest that market rate residential development in the City be supplemented by affordable residential development to provide housing opportunities for the workers needed to fill jobs created to service the residents in the new market rate development. BE IT FURTHER ORDAINED AS FOLLOWS: Section 1: Accounting and disbursement of fees: The affordable housing impact fees collected shall be deposited into the City's affordable housing fund to be used only for the provision of affordable housing in accordance with policies and programs identified in the approved Housing Element of the City of Palm Desert General Plan, and Section 2: Chapter 3.47 is hereby added to the City of Palm Desert Municipal Code to read as shown in attached Exhibit "D." PASSED, APPROVED, AND ADOPTED by the City Council of the City of Palm Desert, California, at its regular meeting held on the _ _ day of by the following vote, to wit: AYES: NOES: ABSENT: ABSTAIN: ATTEST: RACHELLE D. KLASSEN, CITY CLERK PALM DESERT, CALIFORNIA APPROVED AS TO FORM: DAVID J. ERWIN, CITY ATTORNEY SUSAN MARIE WEBER, MAYOR 3 ORDINANCE NO.1283 EXHIBIT "D" CHAPTER 3.47 AFFORDABLE HOUSING IMPACT FEE ON NEW MARKET RATE RESIDENTIAL DEVELOPMENT 3.47.10.1 Purpose, Use, and Findings. A. There exists shortage of very low, low, and moderate income housing within the City of Palm Desert and surrounding communities. B. As the City of Palm Desert is built out over the next twenty years, the residents who move into the new market rate housing development will require goods and services that are produced, provided, and/or sold by persons who have service industry jobs, which are typically lower -paying jobs that do not compensate their employees highly enough that they can afford to live in market -rate housing in the city of Palm Desert. C. The City of Palm Desert stands to benefit when there is a balance between jobs offered in the city and the housing provided therein: traffic is lessened when fewer workers need to commute in from other cities; parents work near to where their children attend school and can more easily engage in school -related activities; families can participate in more activities in their communities by virtue of spending less time commuting to and from work; and residents and visitors alike are serviced by people who are proud of Palm Desert, which is their home. D. The City of Palm Desert understands the importance of continual planning for affordable housing and intends to encourage, in accordance with the approved Housing Element, the integration of affordable housing throughout the community by requiring that market -rate residential development be complemented with affordable dwelling units either within or adjacent to the market -rate units; the City is also prepared to accept payment of a reasonable impact fee in lieu of requiring that all market -rate developers simultaneously construct affordable dwelling units, when such requirement is not consistent with the goals and policies of the General Plan or is otherwise not feasible. E. The former City of Palm Desert Redevelopment Agency, which was the primary source of funding for Palm Desert's affordable housing program, was abolished by the State of California in 2011, leaving only nominal funding available through which the City can assist the private sector in the provision of subsidized affordable housing. F. With sufficient funding, the City of Palm Desert can assist in providing affordable housing by: acquiring blighted housing stock, renovating it, and establishing affordability covenants on it; providing below -market rate interest loans to developers of affordable housing; providing land at reduced or no cost to not -for -profit affordable housing developers; purchasing extensions of affordability covenants on existing affordable units when those covenants are scheduled to expire; purchasing affordability covenants on existing, suitable market -rate dwelling units; and other means that will stabilize or increase the inventory of affordable housing stock in the city of Palm Desert. 4 ORDINANCE NO. 1283 G. The City Council considered a nexus -based affordable housing fee analysis for rental housing and a nexus -based affordable housing fee analysis for for -sale housing, collectively referred to as the "Nexus Study," which Nexus Study establishes the nexus between construction of new market rate housing and the need for affordable housing in the community, and which Nexus Study also demonstrated that affordable housing impact fees of $9.24 to $12.38 per square foot for for -sale housing units and $13.50 to over $20.00 per square foot for rental housing units would be needed to fully mitigate the impacts on the need for affordable housing of new market rate units with sales prices between $200,000 and $1.2 million. H. The nexus exists for all new residential construction, including any residential remodel or addition that increases the number of bedrooms, thereby increasing the capacity for residents, whether the new home or addition is a custom home or a tract of homes, and whether the home(s) be single family or multi -family. I. The City Council also studied implementation considerations, including the financial impact of such fees on potential development in the City, and concluded that it was appropriate to adopt affordable housing impact fees lower than the maximum permissible fees. J. The City Council desires to adopt and implement affordable housing impact fees for both residential rental development and residential ownership development, including for residential remodel or addition projects that increase the number of bedrooms in a residence, to mitigate the impact of this market rate development on the need for affordable housing, while ensuring that those market rate developments remain economically feasible. K. The City Council of the City of Palm Desert does hereby determine that it is in the public interest that market rate residential development in the city be supplemented by affordable residential development to provide housing opportunities for the workers needed to fill jobs created to service the residents in the new market -rate development. 3.47.020 Accounting and Disbursement of Fees. The affordable housing impact fees paid pursuant to this chapter shall be deposited into the City's affordable housing fund to be used only for the provision of affordable housing in accordance with policies and programs identified in the Housing Element of the City of Palm Desert General Plan which is approved and adopted at the time of payment of fees. 3.47.030 Calculation and Payment of Fee. A. The affordable housing impact fee paid pursuant to this chapter shall be applied to new market rate residential development. For the purposes of this chapter, "new market - rate residential development' is defined as the construction of any new dwelling unit, including for -sale or rental homes, apartments, time-share units, and condominiums, or the remodel of or addition to any such dwelling unit, which remodel or addition creates one or more new bedrooms. B. Calculation of fee shall be based upon the gross square feet of the dwelling unit or, in the case of a remodel or addition described in 3.47.030 A, upon the gross square feet of the new bedroom(s). 5 ORDINANCE NO. 1283 C. The fee enacted by this chapter shall be paid to the City of Palm Desert prior to issuance of the building permit for the dwelling unit. 3.47.040 Exemptions. The affordable housing impact fee shall not apply to mobile homes, to new dwelling units on which affordability covenants are recorded if those covenants are for a period of thirty (30) years or longer, or to any new single family home that is less than 1,250 square feet in size and situated on an infill lot. 0 RESOLUTION NO. 2015- 27 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM DESERT, CALIFORNIA, ESTABLISHING FEES PURSUANT TO CHAPTER 3.47 OF THE MUNICIPAL CODE OF THE CITY OF PALM DESERT WHEREAS, it is determined that there is a need for affordable housing in Palm Desert, and the State of California has mandated that local governments provide for affordable housing through their zoning and development ordinances, Palm Desert has chosen to use its police power land use planning authority to provide for affordable housing; and WHEREAS, applicable goals, policies and actions of the adopted 2004 City of Palm Desert Comprehensive General Plan, including the Housing Element, demonstrate the need for affordable hosusing in Palm Desert; and WHEREAS, on April 23, 2015, the City Council approved an ordinance creating Chapter 3.47 "Affordable Housing Impact Fee" of the Palm Desert Municipal Code that, among other things, includes establishment of an Affordable Housing Impact Fee to be adopted by the City Council and applicable only to development of new market -rate residnetial for -sale and rental dwelling units, including additions and remodels to existing units when those additions/remodels increase the number of bedrooms in existing dwelling units, that shall be based upon the cost of mitigating the impact of market -rate units on the need for affordable housing in the city, and WHEREAS, the City Council has considered and adopted an ordinance to add Chapter 3.47 to the Municipal Code to also implement goals, policies, and actions of the 2013 Housing Element update; and WHEREAS, on April 23, 2015, the City Council considered the "Nexus -Based Affordable Housing Fee Analysis for Rental Housing" and the "Nexus -Based Affordable Housing Fee Analysis for For -Sale Housing," both dated April 2, 2015, and prepared by Economic & Planning Systems, Inc. of Oakland, California and referred to collectively as the "Nexus Study," which Nexus Study demonstrates that affordable housing impact fees of $9.24 to more than $20.00 per square foot of new market rate development would be needed to fully mitigate the impacts of such development on the need for affordable housing; and WHEREAS, to ensure the economic feasibility of residential development, including new market -rate units and the addition of new bedrooms to existing residential development, the memorandum entitled Implementation Considerations for Palm Desert Affordable Housing Impact Fees dated March 18, 2015, prepared by Economic & Planning Systems, Inc., recommends that affordable housing impact fees lower than the maximum permissible fees be adopted; and WHEREAS, the City Council desires to adopt and implement affordable housing impact fees for market -rate residential development while ensuring that that development remain economically feasible; and RESOLUTION NO. 2015- 27 WHEREAS, affordable housing impact fees collected shall be deposited into the City's Affordable Housing Fund to be used only for the provision of affordable housing consistent with the goals and programs identified in the currently adopted Housing Element of the Palm Desert Comprehensive General Plan so as to provide housing options to persons and families of very low, low, and moderate income; and WHEREAS, at least 10 days prior to the date this resolution is to be considered, data was made available to the public indicating the amount of cost, or estimated cost, required to provide the service for which the fee or service charge is levied and the revenue sources anticipated to provide the service, including general fund revenues in accordance with Government Code Section 66019; and WHEREAS, at least fourteen days prior to the date this resolution is to be considered, notice was mailed to those persons who had requested same in accordance with Government Code Section 66019; and WHEREAS, notice of the hearing on the proposed fees was published twice in the manner set forth in Section 6062a as required by Government Code Section 66018; and WHEREAS, a public hearing was conducted and the public notice and availability of estimated costs were available to the public at least ten days prior to the meeting, all in accordance with Government Code Sections 66018 and 66019. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Palm Desert, California, does hereby approve establishment of an affordable housing impact fee of two dollars ($2.00) per square foot of gross building area for new residential market - rate for -sale and rental dwelling units, including new bedrooms added to existing market - rate dwelling units. PASSED, APPROVED, and ADOPTED by the City Council of the City of Palm Desert, California, at its regular meeting held on the day of , 2015, by the following vote: AYES: NOES: ABSENT: ABSTAIN: ATTEST: RACHELLE D. KLASSEN, CITY CLERK CITY OF PALM DESERT, CALIFORNIA SUSAN MARIE WEBER, MAYOR 2 EXHIBIT "A" Report Nexus -Based Affordable Housing Fee Analysis for Rental Housing Prepared for: City of Palm Desert Prepared by: Economic & Planning Systems, Inc. April 2, 2015 _C:?'G'?:i $ One Xaiser ka_,.. i;;r[e ?•fi.? O,hlantt, ':4 G4612 5 ! 0 84 : 5.9' te! 520'4C12 8'ofJ� EPS #141134 JJKid'kS www.epsys.com Table of Contents EXECUTIVESUMMARY................................................................................ ................... 1 1. AFFORDABILITY GAP ANALYSIS...................................................................................7 ProductType.......................................................................................................... 7 Development Cost Assumptions................................................................................ 9 RevenueAssumptions.............................................................................................. 9 Affordability Gap Results........................................................................................ 10 2. DEMAND -BASED NEXUS FEE CALCULATION................................................................... 11 Market -Rate Household Income Levels..................................................................... 11 Household Expenditures and Job Creation by Income Level ......................................... 11 Demand for Public -Sector Workers.......................................................................... 15 Combined Demand for Income -Qualified Workers ...................................................... 16 FeeCalculation..................................................................................................... 16 APPENDIX A: Household Expenditures and Employment Generation APPENDIX B: Income Levels for Worker Households List of Figures and Tables Figure 1 Illustration of Nexus -Based Housing Fee Methodology ........................................... 2 Table 1 Summary of Housing Impact Fees or Unit Equivalents per Market -Rate Unit ............. 6 Table 2 Financing Gap Analysis -- Rental Product Type .................................................... 8 Table 3 Required Income by Unit Type- Market -Rate Rental Apartments ........................... 12 Table4 HUD Income Limits........................................................................................ 17 Table 5 Maximum Impact Fee Calculations -- Studio ...................................................... 18 Table 6 Maximum Impact Fee Calculations -- 1 Bedroom ................................................ 19 Table 7 Maximum Impact Fee Calculations -- 2 Bedroom ................................................ 20 Table 8 Maximum Impact Fee Calculations -- 3 Bedroom ................................................ 21 EXECUTIVE SUMMARY Economic & Planning Systems, Inc. (EPS) was retained by the City of Palm Desert (City) to conduct a nexus study analyzing the impact that development of market -rate rental housing has on the demand for below -market -rate housing and, based on the results, to determine the defensible nexus -based fee that could be charged to market -rate development. The technical approach used herein quantifies the impacts that the introduction of market -rate rental apartments have on the local economy and the demand for additional affordable housing. As new households are added to the community, local employment also will grow to provide the goods and services required by the new households. To the extent that these new jobs do not pay adequate wages for the employees to afford market -rate housing in the community, the new households' spending is creating a need for affordable housing. A nexus -based affordable housing fee is therefore based on the impact of the new market -rate homes on the demand for affordable housing. The fee calculated in this study represents the maximum fee that may be charged to new market -rate housing units to mitigate their impacts on the affordable housing supply. Such fees are then used by the City to subsidize the production of new affordable units for lower -income households not accommodated by market -rate projects. Calculating the impact of market -rate development in the City on affordable housing needs, and the fees needed to mitigate those impacts, involves three main analytical steps: Step #1. Estimate the typical subsidy required to construct units affordable at various income levels (the "affordability gap"). The analysis focuses on very -low, low-, and median - income households. • Step #2. Determine the market -rate households' demand for goods and services, the jobs created by that demand, and the affordable housing needs of workers in those jobs. Step #3. Combine the affordability gap with the affordable housing demand projections to compute the maximum supportable nexus -based affordable housing fees per market -rate unit. These technical steps are illustrated in Figure 1 and detailed in the body of this Report and the attached Technical Appendices. The findings regarding each of these steps are presented below. Economic & Planning Systems, Inc. Figure 1 Illustration of Nexus -Based Housing Fee Methodology Step #1 Affordability Gap Analysis Affordable (Subsidy Required to Construct Unit Value Affordable Units) by Income minus Development Costs equals F Affordability Gap If negative Subsidy /I Required No Subsidy u positive Required Required Total Workers to Step #2 Market Rate Household Household Provide Goods and Total Demand for Affordable Housing Demand Unit Rents Income Expenditures Services by o Affordable Units for (Generated by Market Rate Housing) Level by Category Expenditure Category Workers Step #3 Affordability multiplied=Demand Maximum Compute Impact Fee equals Supportable Nexus - per Market Rate Unit Gap (Subsrd Requved) by Based Housing Fee Y (per Markel rate unit) Economic & Planning Systems, Inc 2/5/2015 Nexus -Based Affordable Housing Fee Analysis for Rental Housing 04102115 1. The costs to construct affordable housing units affordable to many households exceed those units' values based on the rents or prices that the households can afford to pay. The subsidy required to construct affordable housing units in Palm Desert ranges from roughly $58,000 for a Median Income household to $164,000 for a Very Low Income (VLI) household. Moderate Income households do not appear to require subsidies, as affordable prices for such households appear able to support the costs of construction. An "affordability gap analysis" evaluates whether or not the costs to construct affordable units exceed the values of units that are affordable to lower- and moderate -income households. For each affordable housing income level (Very Low Income [VLI], Low Income [LI], Median Income, and Moderate Income) this analysis estimates the subsidy required to construct affordable housing units. The affordability gap analysis assumes that the average affordable unit for all income levels will be a 2-bedroom unit in a multifamily development. The estimated costs to construct the prototypical affordable unit are based on published data sources (RS Means Cost Estimator) indexed to Coachella Valley labor and materials costs, and have been vetted with developers active in Coachella Valley. The costs of land acquisition are included in these development cost calculations, and have been based on recent appraisals for residential land in Palm Desert. For units that are eligible for non-competitive Low Income Housing Tax Credits (4 percent tax credits), the value of those tax credits is deducted from the development costs. A household's ability to pay is estimated based on standard percentages of income available for housing costs at each household income level. Income available for housing costs is then converted into a monthly affordable rent and a capitalized unit value or an affordable mortgage payment and supportable home price. This unit value is then compared to the costs of development to determine the subsidy, if any, required to make the unit affordable to each income level. 2. The demand for affordable housing generated by the expenditures of new households in Palm Desert increases along with the market -rate rent price (and related renter income). For example, a one -bedroom unit that rents for $1,200 per month is estimated to create demand for 0.109 affordable housing units requiring development subsidy, while a 3-bedroom unit that rents for $1,900 per month creates demand for 0.156 affordable units. A justified nexus fee is based on the total demand for affordable housing units generated by construction of market -rate units. The link (or nexus) between market -rate housing and increased demand for affordable housing is that residents of market -rate units demand goods and services that rely on many wage earners (for example, retail sales clerks) who typically cannot afford market -rate housing and thus require affordable housing. Because more expensive housing units require renters to have higher incomes, and higher income households create more jobs through their spending, the nexus impacts and thus the justified fees for rental units vary according to the rental price range of the market -rate units. Typically, larger apartments (i.e., more bedrooms) command higher rents, so their occupants are required to have higher household incomes than renters of smaller units. Economic & Planning Systems, Inc. Nexus -Based Affordable Housing Fee Analysis for Rental Housing 04102115 Thus, larger units create more jobs as a result of their occupants' spending. Nexus impacts and the justified fees for market -rate rental apartments, therefore, vary based on unit size. This analysis evaluates the demand for affordable housing generated by a range of for -rent unit sizes. For each unit size, the demand -based nexus fee calculation involves the following steps: A. Market -Rate Household Income Levels. The required income levels of households occupying new market -rate housing are derived based on the rental rate, assuming standard housing cost expenses as a proportion of overall household income. For example, a typical household renting a recently constructed market -rate two -bedroom unit for around $1,400 per month would have an annual income of roughly $64,000, if they spent 30 percent of their income on housing costs (rent and utilities). B. Household Expenditures. Based on the household income computed in Step A, Consumer Expenditure Survey data was used to evaluate the spending patterns of the household. This analysis provides an estimate of how much the household spends on specific categories of expenditures, such as "Food at Home." As the households' income increases along with the price and size of the market -rate units, the total spending on goods and services also increases. The Consumer Expenditure Survey also indicates that these relationships are not linear (e.g., a household with twice the income does not necessarily spend twice as much on food). C. Job Creation and Worker Households. Having estimated the households' spending on various items, that spending is then converted into an estimation of jobs created. For each expenditure category, data regarding average worker wages and the ratio between gross business receipts and wages were used to translate these household expenditures into the total number of private -sector workers. For selected public -sector jobs that typically grow in proportion to the local population size (e.g., teachers), the demand for new workers was estimated by relating current levels of employment in such categories to the current population and applying this ratio to future development. Because each new worker does not represent an independent household (Palm Desert has an average of 1.52 workers per working household), the total number of new households created is somewhat less than the number of new jobs created. EPS has further adjusted the household formation rates to reflect the expectation that a certain proportion of workers will not form their own households, particularly those of younger ages.' D. Worker Households by Income Category. Each worker household generated is assigned to an income category —Very Low Income (VLI), Low Income (LI), Median, Moderate, and Above Moderate —based on its estimated gross wages. This provides the total number of households generated at each income level by construction of market - rate units at various price points. The results indicate that residents of lower -priced units generate fewer worker households requiring affordable housing than do residents of higher -priced units. 1 BLS data indicates that 12.5 percent of retail/restaurant workers are age 16-19, but an average of only 1.9 percent of workers in other industries. EPS has assumed that such young workers do not form their own households. Economic & Planning Systems, Inc. Nexus -Based Affordable Housing Fee Analysis for Rental Housing 04102115 These steps of the nexus -based fee calculation provide the total number of income -qualified workers required to meet the needs for goods and services generated by market -rate housing. The number of workers servicing market -rate housing (at each unit size) is then converted to total income qualified households requiring affordable housing subsidy, and each such household is assumed to require one housing unit. 3. This analysis calculates the fees that could be charged to fully mitigate the impact that new market -rate housing has on Palm Desert's affordable housing demand at various representative unit sizes. These fees could range from roughly $12,000 for studio apartments to $21,000 for 3-bedroom apartments. The nexus fee is calculated by applying the number of affordable units needed by income qualified households to the affordability gap for each housing income category. This calculation is made for several different apartment sizes. Table 1 summarizes the maximum nexus -based fees calculated for representative rental unit sizes. The City may also consider whether to allow developers to provide affordable units within their projects, rather than paying the nexus -based fee. Table 1 illustrates the proportions of affordable units that correspond to the fee calculation and demands created by the market -rate units. For instance, a project offering only two -bedroom units would effectively mitigate the demand being created by the market -rate units if it provided 0.117 affordable units (very -low, low, and median income) for each market -rate unit. Please note that these maximum fees are based on the nexus relationship of affordable housing demand created by new market -rate units; EPS recommends that the City consider the feasibility impact of imposing fees while setting any fee on rental housing. Economic & Planning Systems, Inc. Table 1 Summary of Housing Impact Fees or Unit Equivalents per Market -Rate Unit Palm Desert Housing Impact Fee, EPS #141134 Market -Rate Maximum Affordable Units Generated/100 Market -Rate Units Unit Size Impact Fee Total Low (50%) Low (60%) Low (80%) Mad (100%) Studio $12,123 9.2 4.1 1.1 2.6 1.3 1 Bedroom $14,650 10.9 5.2 1.3 3.0 1.4 2 Bedroom $15,772 11.7 5.7 1.4 3.2 1.5 3 Bedroom $20,969 15.6 7.6 1.8 4.2 1.9 Source Economic & Planning Systems, Inc E—c—c d Plannmg Systems, Inc 21WO15 P 1141000s1141134PalmDesemModeA 141134ren1modo/020515 rlsi 1. AFFORDABILITY GAP ANALYSIS For any nexus -based affordable housing fee calculation, it is necessary to estimate the subsidy required to construct affordable housing units. Table 2 shows the subsidy needed to produce multifamily housing that is affordable to very low-, low-, median- and moderate -income households. Product Type This analysis assumes that new lower -income worker households would be housed in multifamily developments in Palm Desert. Developable residential land in Palm Desert is assumed to be approximately $200,000 per acre, based on an appraisal provided to the City by Lidgard and Associates. EPS has assumed that these projects will have an average density of 20 units per acre, and be built in wood -frame buildings of two to three stories with surface parking. In order to determine the average household size of future affordable housing units, EPS used two estimates from the Census Bureau. The American Community Survey indicates that the average household size in Palm Desert is 2.05 people while the average family size is 2.75 people. The household size figure is significantly skewed by the high population of retirement - age people in Palm Desert, where 46.1 percent of all households have one or more members over age 65 (vs. only 24.9 percent statewide). The average family size is considered more representative of worker households in Palm Desert, so the average household size for future workers is assumed to round up to three people and EPS uses this assumption to determine the applicable income limits for the new units. The assumption that the average worker household requires a two -bedroom unit is expected to be conservative, as many working families in the Coachella Valley have more than three members. By assuming an average two -bedroom unit size rather than something larger, the costs of construction and subsidy for affordable housing are expected to be minimized. California State law (California Health and Safety Code Section 50052.5) assumes that a 2- bedroom unit is occupied by a 3-person household, and this assumption is used in this analysis. An affordable 2-bedroom unit in Palm Desert is assumed to have a gross size of about 1,200 square feet (accounting for shared lobbies, hallways, etc.) and a net size of 1,000 square feet — both somewhat smaller than recently constructed market rate units, but similar to recent affordable housing developments. This analysis assumes that all new affordable housing would be rental units, rather than for -sale units. This assumption reflects the fact that many households at lower incomes will not have adequate wealth reserves for down payments on homeownership units, and may have further difficulty absorbing the ongoing costs of homeownership (taxes, repairs, etc.) that they can effectively avoid by renting their homes rather than buying. Economic & Planning Systems, Inc. 7 . 1.1-1.1- . 1.1 -11-.111-1.1-1. Table 2 Financing Gap Analysis - Rental Product Type Palm Desert Housing Impact Fee, EPS 0141134 2 Stories Multifamily With Surface Parking Very Low Low Low Median Moderate Income Income Income Income Income Item (50% All (60% AMI) (80% AMI) (100% All (120% AMI) Development Program Assumptions Density/Acre 20 20 20 20 20 Average Gross Unit Size 1,200 1,200 1,200 1,200 1,200 Average Net Unit Size 1.000 1.000 1.000 1,000 1.000 Average Number of Bedrooms 2 2 2 2 2 Average Number of Persons per Household 3 3 3 3 3 Parking Spaces/Unit 2.0 2.0 2.0 2.0 20 Cost Assumptions [11 Land/Acre [2) $200.000 $200.000 $200,000 $200.000 $200.000 Land/Unit $10.000 $10.000 $10,000 $10.000 S10.000 Direct Construction Costs/Gross SF [31 $150 S150 $115 $115 $115 Direct Construction Costs/Unit $180,000 $180,000 $138,000 $138,000 $1,38.000 Parking Construction Costs/Space $2.500 $2.500 S2,500 $2.500 $2,500 Parking Construction Costs/Unit $5,000 $5.000 $5,000 $5.000 $5,000 Subtotal, Direct Costs/Unit $185.000 $185,000 $143.000 $143.000 $143,000 Indirect Costs as a % of Direct Costs (41 60% 60% 35% 35 % 351/6 Indirect Costs/Unit $111,000 $111,000 $50.050 $50.050 $50.050 Total Cost/Unit $306,000 $306,000 $203.050 $203.050 $203.050 less Value of 4% Tax Credits (5) -$118,400 -$118,400 $0 $0 SO Net Cost/Unit S187.600 $187.600 $203.050 $203.050 $203.050 Maximum Supported Unit Value Household Income (8) $27.350 $32.820 S43.700 $54,700 $65.640 Income Available for Housing Costs/Year (71 $8.205 $9.846 $13.110 $16.410 $19,692 less Utility Allowance [81 $2.400 $2.400 $2,400 $2,400 $2.400 Remaining Income Available for Rent $5.805 $7.446 $10.710 $14.010 $17,292 Operating Expenses per Unib'Year [9) $4,500 $4,500 $6,031 S6,031 $6,031 Net Operating Income $1,305 $2,946 $4.690 $7,990 $11.262 Capitalization Rate 110) 5.59,6 5.5 % 5.5 % 5.5% 5.51/ Total Supportable Unit Value $23.727 $53,564 $85.082 $145.082 S204,755 Financing Gap $163.873 $134,036 $117,968 S57,968 SO (1) Costs for 50-60 % AMI units assume projects are built by non-profit builders. and require prevailing wage. For units at 80.120 % of AMI. EPS has assumed lower development costs consistent with for -profit builders' cost bases, and do not assume prevailing wage. [21 The land costs represent an expected price for developable residential land, per a December 2014 appraisal provided to the City of Palm Desert. (3) Includes costs for labor and materials. 141 Includes Costs for architecture and engineering: entitlement and fees: project management. marketing. commissions. and general administration. financing and charges. insurance. and contingency. Tax credit projects (at or below 60% AMI) are assumed to include developer fee at 14% of eligible basis. (5140,; Tax Credits are assumed to be received for units at 60% AMI or below. Value of tax credits is estimated at 40% of eligible basis. which is all drect and indirect costs but excludes land costs. 16) Based on HCD 2014 income limits for Riverside -San Bernardino -Ontario MSA. (71 Assumes housing cosy to be 30% of gross household income. (81 Based on Housing Authority of Riverside County Allowances for Tenant Furnished Utilities and other Services assuming an apartment using natural gas for heating and cooking. (9) Operating expenses include costs of tenantsutilities. Units for households above 60% AMI are assumed to be built as for -profit projects and thus subject to property tax. 1101 Capitalization rate estimated by EPS based on recent apartment Industry investment standards. Ecn,«.,«,. a damn„, srv«,.,. 11, vs70 15 $ GR�1000 s.t011.7��almOaaMAIMMI'.rH tJlNnlmnnatt;$p5r5 a<. Nexus -Based Affordable Housing Fee Analysis for Rental Housing 04102115 Development Cost Assumptions Affordable housing development costs include land costs, direct costs (e.g. labor and materials), indirect or "soft" costs (e.g., architecture, entitlement, marketing, etc.), and developer profit. For rental projects, operating costs also must be incorporated into the analysis. Data from recent Palm Desert development and recent land transactions have been combined with EPS's information from local housing developers and published data sources to estimate development cost assumptions for a prototypical project in Palm Desert. These cost assumptions are shown on Table 2. Projects offering units affordable to households at or below 60 percent of Area Median Income (AMI) are typically eligible for "4%" Low Income Housing Tax Credits, which yield equity equal to roughly 40 percent of the "eligible basis" of the development (all project costs excluding land acquisition). Such projects are subject to prevailing wage requirements, however, which increase their direct costs substantially. Also, the developer's fee for such projects is included as an indirect cost, and can represent up to 15 percent of the eligible basis.2 These added costs are more than offset by the value of the tax credit, however, so the net cost of development for such units is estimated to be slightly less than the cost of developing units for households at 80 to 120 percent of AMI. Revenue Assumptions To calculate the values of the affordable units, assumptions must be made regarding the applicable income level (moderate, median, LI, and VLI) and the percentage of income spent on housing costs. In addition, translating these assumptions into unit prices and values requires estimates of operating expenses, capital reserves, and capitalization rates. The following assumptions were used in these calculations: • Income Levels —The maximum allowable incomes used in each affordable housing income category are consistent with those set forth by the federal government (U.S. Department of Housing and Urban Development [HUD]): VLI = 50 percent of Area Median Income (AMI), LI 60%= 60 percent of AMI, LI 80%= 80 percent of AMI, Median Income = 100 percent of AMI, and Moderate Income = 120 percent of AMI. Percentage of Gross Household Income Available for Housing Costs—HCD standards on overpaying for rent indicate that households earning less than 80 percent of AMI should pay no more than 30 percent of their gross income on housing costs. For this analysis, EPS has assumed that all income qualified renter households shall spend 30 percent of their gross income on housing costs, including rent and utilities. Other Costs Included for Rental Units —In addition to rent payments, the analysis assumes $200 per month in utility costs based on the Riverside County Housing Authority utility allowance table. This amount is subtracted from the total available housing costs (30 percent of household income) to determine the net amount available for rent payments. 2 Limited by Section 10327(c)(2) of the CA Code of Regulations, Title 4, Division 17, Chapter 1. Economic & Planning Systems, Inc. Nexus -Based Affordable Housing Fee Analysis for Rental Housing 04102115 Operating Costs for Rental Units —The analysis assumes that apartment operators incur annual costs of $4,500 per unit for VLI and LI 60% units and about $6,000 for LI 80%, Median, and Moderate units. EPS has assumed the LI 80%, Median, and Moderate income units would be built by for -profit builders and subject to property taxes. Affordability Gap Results Table 2 shows the subsidies for construction of for -rent apartments for VLI through moderate - income households. The affordability gap ranges from $0 for moderate -income households (i.e., moderate -income households can afford home prices adequate to cover the costs of construction) to roughly $164,000 for VLI households. The affordability gap for VLI households is much higher because these households have significantly less income available for housing costs, while construction costs remain essentially the same. The affordability gaps by income level then were used to calculate the justified nexus -based fees by multiplying this required subsidy by the number of units required to house workers providing goods and services to new market -rate housing development. This methodology is discussed in more detail in the following chapter. Economic & Planning Systems, Inc. 10 ,,...,m,:,,, .,.,:,.. a ...,,,.,.. Z. DEMAND -BASED NEXUS FEE CALCULATION The maximum supportable nexus fees are based on both the affordability gap, calculated in the previous chapter, and the estimated impact that new market -rate units have on the need for affordable units, as reflected in the number of income -qualified local workers required to support the residents of market -rate units and the total subsidy required to construct housing for those workers. This approach is based on the following logic: (a) residents of market -rate housing have disposable incomes and require a variety of goods and services (including private sector goods and services and government services); (b) the provision of those goods and services will require some workers who make moderate or lower incomes and cannot afford market -rate housing; and (c) fees charged to market -rate projects can mitigate the impact of those projects on the increased need for affordable housing. Market -Rate Household Income Levels Households with larger incomes typically spend more on goods and services, therefore creating additional lower income jobs, which in turn generate a greater demand for affordable housing. To assess the impact that market -rate rental units have on the need for affordable housing, EPS determined the minimum income required to rent a market -rate apartment at various bedroom sizes, as shown in Table 3. Average rents for various apartment sizes (studio, and 1, 2, and 3 bedrooms) are based on a survey of rental rates for six of the most recent market -rate multifamily projects developed in Palm Desert. The rents for the most recent apartment projects were used, rather than average rents for all apartments, because these newer apartments best represent the rents that can be expected with new market -rate apartment development. Assuming utility costs for each unit size based on the Riverside County Housing Authority utility allowance table, the minimum household income needed to rent each unit is then computed, predicated on the assumption that a household will spend 30 percent of their income on housing costs (rent and utility payments). As shown, required household incomes range from approximately $46,000 for a studio apartment to roughly $85,000 for a 3-bedroom apartment. Household Expenditures and Job Creation by income Level Having established the income requirements for renting apartments of various sizes, the fee calculation then requires an analysis of the household spending patterns at those required income levels. Consistent with nexus fee calculations and impact analysis for schools, parks, roads, etc., this analysis also assumes that all households renting new market -rate units in Palm Desert are "net new" households to the City. To assume otherwise —for instance, that only those buyers or renters of new housing units relocating from outside Palm Desert should be counted in the impact analysis —would require assuming that the homes left by those households Economic & Planning Systems, Inc. 11 Table 3 Required Income by Unit Type- Market -Rate Rental Apartments Palm Desert Housing Impact Fee, EPS #141134 Apartment Size Average Rent [1] Utility Allowance [21 Required Income by Unit Type Annual Rent Subtotal Rent and Utility and Utilities Expenditures Minimum Annual Household Income Required [31 Formula A B C= A-B D=C'12 E= D/30% Studio $975 $165 $1,140 $13,680 $45,600 1-Bedroom $1,200 $175 $1,375 S16,500 $55,000 2-Bedroom $1,400 $200 $1,600 $19,200 $64,000 3-Bedroom $1,900 $229 $2,129 $25,548 $85,160 [1] Based on average rents for available multifamily rentals in each unit size in early January 2015 within the City of Palm Desert Properties include The Vineyards. Canterra, Mirabella, Ariana, The Regent, and The Enclave. [2] Based on Housing Authority of Riverside County Allowances for Tenant Furnished Utilities and other Services assuming an apartment using natural gas for heating and cooking 131 Assumes that a maximum of 30 % of annual household income is dedicated to utility and rent expenditures. Sources ForRent com, U S Department of Housing and Urban Development, Economic & Planning Systems, Inc Economic B Planning Systems. Inc 2152015 P 041000s', 141134PalmDeserllModeP141134renfmodel020515 xlsx Nexus -Based Affordable Housing Fee Analysis for Rental Housing 04102115 relocating within Palm Desert would be demolished or left vacant in perpetuity. This would only be the case were the City experiencing a significant loss of population and housing inventory, as has occurred, for instance, in Detroit. Palm Desert has not experienced such declines. The Consumer Expenditure Survey from the United States Bureau of Labor Statistics provides data for households at a variety of income levels, detailing the amounts that typical households spend on things like "Food at Home," "Apparel and Services," and "Vehicle Maintenance and Repairs." Interestingly, household expenditures by category are not uniformly proportional to household income levels. For example, households earning around $55,000 (adequate to rent a new one -bedroom apartment) spend roughly 12.3 percent of their income on food and drink (at home and eating out), while households earning $85,000 who can afford to rent a new three - bedroom apartment spend only about 10.5 percent of their income on these items. Because of these and other differences in proportionate spending, the expenditure profile varies at different income levels. The household's typical expenditures were converted to the number of jobs created by their spending. The first step in this process is to determine how much of an industry's gross receipts are used to pay wages and employee compensation. EPS relied on data from the Economic Census,3 which provides employment, gross sales, and payroll data by industry for Riverside County. In certain instances, Riverside County data was not available for every Economic Census industry —in those cases, EPS relied on statewide Economic Census data for that industry. To link the Economic Census data and the Consumer Expenditure Survey data, EPS made determinations as to the industries involved with expenditures in various categories. For example, purchases in the Consumer Expenditure Survey's "Food at Home" category would likely involve the Economic Census's "Food & Beverage Stores" industry, where gross receipts were nearly 10 times the employees' wages. By contrast, purchases in the Consumer Expenditure Survey's "Entertainment Fees and Admissions" category were attributed to the Economic Census' "Arts, Entertainment, and Recreation" industry, where gross receipts are only about 4 times the employees' wages. Where more than one Economic Census category was attributable to a Consumer Expenditure Survey category, EPS estimated the proportion of expenditures associated with each Economic Census category. After determining the amount of the household's expenditures that were used for employee wages, an estimation of the number of employees those aggregate wages represent is required. EPS calculated the number of workers supported by that spending using the average wage per worker (also from the 2007 Economic Census). These wages ranged from a low of roughly 3 Note that the Consumer Expenditure Survey data is based on information current as of 2013 and data from the Economic Census was published in 2007, the most recent year for which comprehensive regional data is available at the time of this publication. Because the data sources were from different years, EPS converted the 2013 expenditures to 2007 dollars using the Consumer Price Index (CPI) for the Riverside -San Bernardino -Ontario Statistical Area (MSA) from the Bureau of Labor Statistics. Economic & Planning Systems, Inc. 13 ..m ..-,-..,,,,,ow,.,,.. 1".. Nexus -Based Affordable Housing Fee Analysis for Rental Housing 04102115 $14,000 per year for workers in the food services industry to a high of roughly $85,000 average salary for legal services.° This methodology recognizes that a range of occupations and incomes exist in a given industry sector. For instance, the methodology used to generate Tables A-1 to A-4 in Appendix A distinguishes between the typical incomes of workers in different types of retail stores (e.g., "food and beverage stores" versus "general merchandise stores"), rather than assuming all retail sector workers earn the same income. However, the average wage is used for each sub- category of industry employment and represents a reasonable proxy for the range of incomes in that group: while some employees will have higher wages and require lower subsidies, others will have lower incomes and require higher subsidies. Using the average approximates the total housing subsidy needed by workers in that industry. To calculate the number of households supported by the expenditures of market -rate housing units, EPS estimated the employees' household formation rates. Importantly, employees generated from the increase in housing units do not all form households; some employees, in the retail and food services industries in particular, are young workers and do not form households. Data from the Bureau of Labor Statistics indicates that 12.5 percent of retail/restaurant workers are age 16-19, but an average of only 1.9 percent of workers in other industries. EPS applied these discounts to household formation to get a more accurate calculation of households formed by the employees and the average total incomes of those households. To get the overall households' income rather than the individual workers', the wages of workers forming households were multiplied by the average of approximately 1.52 workers per working household in Palm Desert.5 This assumption implies the workers in a given household will have roughly equivalent pay per hour. While certainly there will often be some variation in wages per employee within a household, on average this assumption is reasonable because it implies comparable levels of education and training among all workers in a household. The average household incomes then are allocated to various income categories to estimate the number of affordable housing units demanded in each income category (VLI, LI, Median, and moderate - income). 4 Note that the average salary reported for legal services reflects the full range of workers employed by that industry sector, including administrative staff and entry-level employees, as well as the attorneys. 5 Workers per working household based on American Community Survey (ACS) Census data current as of January 2015. The average workers per working household estimate is calculated by taking the total number of people in the labor force and dividing it by the number of households with earnings. This methodology seeks to provide a conservative estimate of household formation by excluding households without workers or earnings (such as those with retired persons). Economic & Planning Systems, Inc. 14 ..,.,o.�,.,,,...,m,.,, Nexus -Based Affordable Housing Fee Analysis for Rental Housing 04102115 A simplified example of these calculations follows: A. Number of Households (prototype project) B. Average Household Income (in the project) C. Aggregate Household Income (A x B) D. Average Income Spent on Retail (Consumer Expenditure Survey) E. Aggregate Retail Spending (A x D) F. Retail Gross Receipts: Payroll Ratio (Economic Census) G. Estimated Retail Payroll (E _ F) H. Average Retail Wage (Economic Census) I. Estimated Total Retail Jobs (G _ H) J. Percent Age 20+ (Bureau of Labor Statistics) K. Total Retail Workers Forming Households J. Average Workers/Household (Census Data) K. Estimated Households Created (I _ J) L. Average Household Income (H x J) M. Income Category (HCD Income Standards) 1,000 $75,000 $75 million $20,000 $20 million 10:1 $2 million $20,000 100 87.5% 88 1.52 58 $30,400 LI 60% In this simplified example, 1,000 new market -rate apartments rented to households earning $75,000 per year would create demand for 58 housing units for retail workers' households typically earning less than 60 percent of AMI. Actual calculations and impact distinctions by type of household expenditure for various rental unit sizes are shown in the series of tables presented in Appendix A. Demand for Public -Sector Workers In addition to the jobs created by the spending of the new market -rate households, this analysis also aims to evaluate the number of public -sector employees generated by the public service demands of new market -rate households. Rather than a comprehensive computation of public - sector employment, the analysis aims to be conservative by sampling only certain public -sector jobs (e.g., teachers and transportation providers) that are expected to grow in proportionate measure to household growth. Data from the 2013 Occupational Employment Survey for the Riverside -San Bernardino -Ontario MSA was used to determine the number of these public -sector employees needed to serve new market -rate development, and the average annual wage among each selected public -sector job type. EPS reviewed the data and sampled occupations that were public sector -related, as shown in Table A-5 in Appendix A. Based on the ratio of the selected public -sector jobs to the total households in the MSA, EPS estimates that approximately 62 government jobs or 41 households with a government employee are required per 1,000 total households. These figures are conservative (i.e., low) because numerous types of public -sector jobs are not included in this analysis (such as federal postal workers, County health and human services workers, etc.). Also, please note that EPS has no basis to distinguish differences in the number of public -sector workers demanded by households based on different income levels or in different sizes of units, so the same numbers of public -sector jobs are assumed to be generated by units of all sizes and prices. Economic & Planning Systems, Inc. 15 Nexus -Based Affordable Housing Fee Analysis for Rental Housing 04102115 Combined Demand for Income -Qualified Workers The total number of income -qualified households required to support the expenditure and public - sector service needs of new market -rate units were determined based on the affordable housing income limits from HUD for a 3-person household. Table 4 summarizes the HUD income limits used to compute the total number of income -qualified households generated by construction of market -rate units.6 The numbers of income -qualified households required to provide goods and services to new housing units are detailed in Appendix B. The nexus methodology used herein computes the total number of income -qualified households generated by market -rate units and calculates the impact fee based on the estimated cost to subsidize the production of units to meet that affordable housing demand. This methodology does not suggest that all lower income service workers serving City residents reside in the City, but it does assume that new development should mitigate for the new affordable housing demand it creates. Fee Calculation The affordability gap analysis quantifies the subsidy required to construct affordable housing at various income levels (VLI, LI, Median, etc.). Analysis of consumer expenditures that rely on lower wage workers provides an estimate of the total number of income -qualified households generated by new for -rent units. Then for each category of market -rate units, the nexus -based fee is calculated by applying the total number of income -qualified households generated to the affordability gap computed for each affordable household income level. The analysis provides the maximum supportable nexus -based fees for new housing development in the City of Palm Desert. Tables 5 through 8 show the impact fee calculation by number of bedrooms for rental units. The total impact fees required for a representative project of 100 units is calculated by multiplying the number of affordable units required per income level by the cost of subsidizing such housing. All income -qualified households are assumed to be housed in multifamily units and the subsidies needed are calculated as the affordability gaps shown in Table 2. The resulting maximum impact fee for market -rate rental units ranges from approximately $12,000 for a studio apartment to roughly $21,000 for a 3-bedroom apartment. 6 To correspond to the available data regarding employee wages, the 2007 Riverside County affordable housing income limits from HUD and HCD were used to determine the number of income - qualified households, based on household expenditures, while 2013 income limits were used for public -sector employment. Economic & Planning Systems, Inc. 16 Table 4 HUD Income Limits Palm Desert Housing Impact Fee, EPS #141134 2007 2013 2014 Percentage of Max Income Threshold Max Income Threshold Max Income Threshold Affordability Category County Median 3-person household 3-person household 3-person household Very Low Income (LI) - 50% 31 % - 50% $26,650 $28.700 $27,350 Low Income (LI) - 60% 51 % - 60% $31,980 $34,440 $32.820 Low Income (LI) - 80% 61 % - 80% $42.600 $45.900 $43,700 Median Income (Med) 81 % - 100% $53,300 $57,400 $54,700 Moderate Income (Mod) 101 % - 120% $63,960 $68.880 $65,640 Above Moderate Income (Above Mod) 120%+ 'Note. Data for Riverside -San Bernardino- Ontario, CA MSA Sources US Department of Housing and Urban Development, California Department of Housing and Community Development. Economic 8 Planning Systems. Inc Ecmom,c d Plwn,nq Syvoms, Inc 21-W015 P1141000si 141134PalmDowrAModcl114/13*oaf dd020515 xi= Table 5 Maximum Impact Fee Calculations — Studio Palm Desert Housing Impact Fee, EPS #141134 Item Affordable Units Required Per 100 Market -Rate Units (A) Total In -Lieu Fee Required Financing Gap per Per 100 Market -Rate Per Market Rate Unit Affordable Unit [1] Units (B) (C = A - B) (D = C / 100) Affordable Units - Very Low Income (50%) 4.1 $163.873 $678,298 Affordable Units - Low Income (60%) 1.1 $134,036 $153.471 Affordable Units - Low Income (80%) 2.6 $117,968 $306,101 Affordable Units - Median Income 1_3 $57,968 $74,445 Total 9.2 $1,212,314 m (1] Subsidies are based on financing gap for rental units, as shown on Table 2. Source. Economic 8 Planning Systems, Inc. $12,123 Economc 6 Planning Systems. Inc 2/6,7015 P110000sV11134P.ImDe-,tYMocf r.1U131ren1mndeI020515 .ts. Table 6 Maximum Impact Fee Calculations — 1 Bedroom Palm Desert Housing Impact Fee, EPS #141134 Item Affordable Units Required Per 100 Market -Rate Units (A) Total In -Lieu Fee Required Financing Gap per Per 100 Market -Rate Per Market Rate Unit Affordable Unit [1] Units (B) (C=A-B) (D=C/100) Affordable Units - Very Low Income (50%) 5.2 $163,873 $854,638 Affordable Units - Low Income (60%) 1.3 $134,036 S176,458 Affordable Units - Low Income (80%) 3.0 $117,968 $351,532 Affordable Units - Median Income 1_4 $57,968 $82,409 Total 10.9 $1,465, 036 [1] Subsidies are based on financing gap for rental units, as shown on Table 2 Source Economic 8 Planning Systems, Inc $14,650 Ecnno 6 Pl-r g $y,1e . Inc 2/812015 P 1141000s�. 141134Pu1mDe r iM.W 141134,-1—da1020515 415r Table 7 Maximum Impact Fee Calculations — 2 Bedroom Palm Desert dousing Impact Fee, EPS #141134 Item Affordable Units Required Per 100 Market -Rate Units (A) Total In -Lieu Fee Required Financing Gap per Per 100 Market -Rate Per Market Rate Unit Affordable Unit [1] Units (B) (C=A-B) (D=C/100) Affordable Units - Very Low Income (50%) 5.7 $163,673 $931,400 Affordable Units - Low Income (60%) 1.4 $134,036 $185,351 Affordable Units - Low Income (80%) 3.2 $117.968 $373,284 Affordable Units - Median Income 1_5 $57,968 $87.202 Total 11.7 $1,577,237 o (11 Subsidies are based on financing gap for rental units. as shown on Table 2. Source. Economic 8 Planning Systems, Inc. $15,772 Econooec 6 Plam—g Systems. Inc 21WO15 P 1141000sN41134PaImDesed'•ModeA141134rentmodol020515 +Isr Table 8 Maximum Impact Fee Calculations — 3 Bedroom Palm Desert Housing Impact Fee, EPS #141134 Total In -Lieu Fee Required Affordable Units Financing Gap per Per 100 Market -Rate Per Market Rate Unit Required Per 100 Affordable Unit [1] Units Item Market -Rate Units (A) (B) (C = A - B) (D = C / 100) Affordable Units - Very Low Income (50%) 7.6 $163,873 $1,240,652 Affordable Units - Low Income (60%) 1.8 $134,036 $246,633 Affordable Units - Low Income (80%) 4.2 $117,968 $496,701 Affordable Units - Median Income 1_9 S57,968 $112,944 Total 15.6 $2,096,930 $20,969 ti [1] Subsidies are based on financing gap for rental units, as shown on Table 2 Source. Economic & Planning Systems, Inc. Econom¢ & Plammng Systems. Inc 2WO 15 P 1141000s114I 134Pa/mDesvrAModeAI 41134,ent—de1020515 rls, APPENDICES: Appendix A: Household Expenditures and Employment Generation Appendix B: Income Levels for Worker Households APPENDIX A: Household Expenditures and Employment Generation Table A-1 Estimated Average Annual Household Expenditures and Associated Employment Generation - Studio .......................A-1 Table A-2 Estimated Average Annual Household Expenditures and Associated Employment Generation - 1 Bedroom .................A-2 Table A-3 Estimated Average Annual Household Expenditures and Associated Employment Generation - 2 Bedroom .................A-3 r Table A-4 Estimated Average Annual Household Expenditures and Associated Employment Generation - 3 Bedroom .................A-4 Table A-5 Representative Government Employment and Wages, 2013..............................................................................A-5 TaWi A-1 EsCmMrd Avrwpa A-1 Hmmhdd E,;,I s ilurar and Associaeed Employmald G mention - Shadis palm o.rrt Housing Impact Fra. 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Pan. of ma UVlilaa. Fuca. aIM PUBIn S•rwwi u1.9ay wM1tl, .Iw mdu0ea u1u1i Ilea. MaclnatY a,O IM•pnone wvaaa NY✓.: Iiu aaanuty •M tdea6aa selvlus rat ed�maled Oar up 0•b was ro!.n�laye it Va 2W) Emrrornc canwt I>7 Rlvrzae Covlly au rot awlaae from 200) Ern,an'a Cpwa Gmas ncW ota to r.I2ea and 200) avenge waB. Dart Na.d on ablewtle d 151 Nde teal ..an9a pl.ry npwt•d Ia aI<Nledun arynee.1ry.11d -lad MUY1a1 n0M3 n1e fu0 range of lin, o eea w.the ma Muatn, roe tdaY bole•vanY arM IeWvui Ile Saece 20!3 Coewmr E,,O-tun Sul.ay_ U S 13- a I Sbtne- 2007 E-Cenwa U S C .,, B.- C•-2010 Ealamc a PIa••urro SY -, i2 A-4 Table A-5 Representative Government Employment and Wages, 2013 [1] Palm Desert Housing Impact Fee, EPS #141134 Item 2013 Govt. Employment [2] 2013 MSA Total HH [3] Govt. Empl/ 1,000 County HH Govt. Employee 2013 Avg. HH [4] Wage [2] Govt. Employee HH Income [4] 2013 Income Category [5] Protective Service Occupations 33,990 1.297.675 26 17.3 $49,516 $83.715 Above Mod Preschool Teachers, Except Special Education 3.170 1,297.675 2 1.6 530,837 552,135 Med Kindergarten Teachers, Except Special Education 2,250 1.297,675 2 1 1 $68.240 $115,372 Above Mod Elementary School Teachers, Except Special Education 17.170 1.297,675 13 8.7 $73.835 $124,831 Above Mod Middle School Teachers. Except Speaa and Vocational Education 5.170 1,297,675 4 2.6 $75.221 $127,174 Above Mod Secondary School Teachers, Except Special and Vocational Education 6.370 1.297.675 5 3.2 $70,952 $119,957 Above Mod D Special Education Teachers, Preschool, v, Kindergarten, and Elementary School 2.280 1,297.675 2 1.2 $79,187 $133.879 Above Mod Special Education Teachers, Middle School 640 1.297.675 0 0.3 $69.495 $11.7,493 Above Mod Special Education Teachers. Secondary Scholl 930 1,297,675 1 0.5 $68.281 $115.441 Above Mod Teachers and Instructors, All Other 2.610 1.297.675 2 1.3 $58,528 $98.952 Above Mod Bus Divers, Transit and Intercity 1.020 1.297.675 1 0.5 $39,593 $66.939 Mod Bus Drivers. School 4.710 1,297.675 4 2.4 $34,959 $59.104 Mod Total 62 40.8 (1] Not a comprehensive list of government employment. Rather a sampling of government lobs for which employment is likely to be directly affected by increases in local population. (2] Government employment and wages based on 2013 Occupational Employment Statistics data for Riverside -San Bemardino-Ontano MSA. (3) Riverside -San Bemardino-Ontano MSA figure from 2013 ACS Census data [4] Assumes 1.52 workers per working household per 2009-2013 Census data (5] See Table 4 Sources 2013 Occupational Employment Statistics. CA Employment Development Department, US Census. Economic d Planning Systems, Inc Ecavvm6P°­�Sy ,e - 2•r•20a v.:.:op..1. APPENDIX B: Income Levels for Worker Households Table B-1 Household Generation per 1,000 Market Rate Units - Studio............................................................................B-1 Table B-2 Household Generation per 1,000 Market Rate Units - 1 Bedroom...................................................................... B-2 Table B-3 Household Generation per 1,000 Market Rate Units - 2 Bedroom...................................................................... B-3 Table B-4 Household Generation per 1,000 Market Rate Units - 3 Bedroom......................................................................B-4 Table B-1 Household Generation per 1,000 Market Rate Units - Studio Palm Desert Housing Impact Fee, EPS #141134 Total Industry Employees HH [11 Very Low Low (60%) Low (80%) Med Mod Above Mod Retail Unspecified Retail 2 1 0 1 0 0 0 0 Food & Beverage Stores 17 10 0 0 10 0 0 0 Food Services and Drinking Places 49 29 29 0 0 0 0 0 Health and Personal Care Stores 3 2 0 0 0 2 0 0 General Merchandise 4 2 0 2 0 0 0 0 Furniture and Home Furnishings Stores 2 1 0 0 0 1 0 0 Building Material and Garden Equipment and Supplies Dealer 2 1 0 0 0 1 0 0 Electronics and Appliance Stores 7 4 0 4 0 0 0 0 Clothing and Clothing Accessories Stores 4 2 2 0 0 0 0 0 Motor Vehicle and Parts Dealers 6 3 0 0 0 0 0 3 Gasoline Stations 4 2 0 2 0 0 0 0 Sporting Goods, Hobby, and Musical Instrument Stores 3 2 2 0 0 0 0 0 Miscellaneous Store Retailers 4 2 0 2 0 0 0 0 Nonstore Retailers 0 0 0 0 0 0 0 0 Arts, Entertainment, & Recreation 3 2 0 0 2 0 0 0 MedicallHeahh Ambulatory Health Care Services 2 1 0 0 0 0 0 1 General Medical and Surgical Hospitals 1 1 0 0 0 0 0 1 Nursing and Residential Care Facilities 4 3 0 0 3 0 0 0 Social Assistance 2 1 0 0 1 0 0 0 Services Personal and Household Goods Repair and Maintenance 6 4 0 0 4 0 0 0 Services to Buildings and Dwellings 9 6 0 0 6 0 0 0 Waste Management and Remediation Services 2 2 0 0 0 0 0 2 Real Estate and Rental and Leasing 1 0 0 0 0 0 0 0 Personal Care Services 5 3 3 0 0 0 0 0 Dry Cleaning and Laundry Services 1 0 0 0 0 0 0 0 Auto Repair and Maintenance 7 5 0 0 0 5 0 0 Veterinary Services 1 1 0 0 0 1 0 0 Photographic Services 0 0 0 0 0 0 0 0 Educational Services 9 5 5 0 0 0 0 0 Accounting 2 1 0 0 0 1 0 0 Architectural Engineering. and Related 1 0 0 0 0 0 0 0 Specialized Design Services 1 0 0 0 0 0 0 0 Death Care Services 1 1 0 0 0 0 0 1 Legal Services 0 0 0 0 0 0 0 0 Government U 41 4 4 9 Z M Total HH Generated Per 1,000 Market -Rate Units 226 139 41 11 26 13 3 45 % o/ Total Affordable Households 1 0 0 0 0 0 Total Income -Qualified HH Generated Per 100 Market -Rate Units 12: 4.1 1.1 26 1.3 0.3 0.0 (1 ] Assumes 1 69 workers per wdrker household based on the 2010 Census Includes a 12 5% discount for retail and 1 9% discount for other ,ndustnes to account for workers under age 20 [2] Exdudes above moderate -income households because these incomes are adequate to acquire market -rate housing Spume Economic 8 Planninq Systems lrL Ecu,nm��6 Purn.p5ryemf art L�YZf!'S P'.:�r(xAJa r1!!JIPymGe�MNWn''�: rJ4erNm Mro'JX)515 a�u Table B-2 Household Generation per 1,000 Market Rate Units - 1 Bedroom Palm Desert Housing Impact Fee, EPS 0141134 Industry Total Employees HH [1] Very Low Low (60%) Low (80%) Med Mod Above Med Retail Unspecified Retail 2 1 0 1 0 0 0 0 Food 8 Beverage Stores 18 11 0 0 11 0 0 0 Food Services and Drinking Places 59 35 35 0 0 0 0 0 Health and Personal Care Stores 3 2 0 0 0 2 0 0 Genera! Merchandise 4 2 0 2 0 0 0 0 Furniture and Home Furnishings Stores 3 2 0 0 0 2 0 0 Building Material and Garden Equipment and Supplies Dealer 2 1 0 0 0 1 0 0 Electronics and Appliance Stores 8 5 0 5 0 0 0 0 Clothing and Clothing Accessories Stores 4 2 2 0 0 0 0 0 Motor Vehicle and Parts Dealers 6 4 0 0 0 0 0 0 Gasoline Stations 4 2 0 2 0 0 0 0 Sporting Goods. Hobby, and Musical Instrument Stores 5 3 3 0 0 0 0 0 Miscellaneous Store Retailers 5 3 0 3 0 0 0 0 Nonstlre Retailers 1 0 0 0 0 0 0 0 Arts, Entertainment, 3 Recreation 4 3 0 0 3 0 0 0 Medical/Health Ambulatory Health Care Services 3 2 0 0 0 0 0 0 General Medical and Surgical Hospitals 2 1 0 0 0 0 0 0 Nursing and Residential Care Facilities 6 4 0 0 4 0 0 0 Social Assistance 2 1 0 0 1 0 0 0 Services Personal and Household Goods Repair and Maintenance 5 3 0 0 3 0 0 0 Services t0 Buildings and Dwellings 11 7 0 0 7 0 0 0 Waste Management and Remediation Services 2 2 0 0 0 0 0 0 Real Estate and Rental and Leasing 1 0 0 0 0 0 0 0 Personal Care Services 6 4 4 0 0 0 0 0 Dry Cleaning and Laundry Services 1 1 0 0 1 0 0 0 Auto Repair and Maintenance 8 5 0 0 0 5 0 0 Veterinary Services 1 1 0 0 0 1 0 0 Photographic Services 0 0 0 0 0 0 0 0 Educational Services 15 9 9 0 0 0 0 0 Accounting 2 1 0 0 0 1 0 0 Architectural. Engineering, and Related 1 0 0 0 0 0 0 0 Specialized Design Services 1 0 0 0 0 0 0 0 Death Care Services 1 1 0 0 0 0 0 0 Legal Services 0 0 0 0 0 0 0 0 Government 62 41 Q 0 Q 2 26 Total HH Generated Per 1,000 Market -Rate Units 258 158 52 13 30 14 3 36 Total Income -Qualified HH Generated Per 100 Market -Rate Units [2] 5 1 3 1 0 0 I' I Assumes 1 56 workers per worker household bawd on the 2011 ACS Census Includes a 12 5% discount for retad and 1 9% discount for other ,nduvnes to account for workers under age 20 (2) Excludes above moderale income householdsbecausetheso incomes are 9dequateto acquire market rate housing 5otime Economc 3 Planning Systems. Inc Etonn+•r[PO�.nO Sr•Nma •�• )/510i5 v,r�/WOsi�ri:MPewOrrwrMr,rM r�rrN.mOnmNi:fl�tl rk. Table B-3 Household Generation per 1,000 Market Rate Units - 2 Bedroom Palm Desert Housing Impact Fee, EPS k141134 Total Industry Employees HH [1] Very Low Low (60%) Low (80%) Mod Mod Above Med Retail Unspecified Retail 2 1 0 1 0 0 0 0 Food& Beverage Stores 18 10 0 0 10 0 0 0 Food Services and Drinking Places 62 36 36 0 0 0 0 0 Health and Personal Care Stores 3 2 0 0 0 2 0 0 General Merchandise 5 3 0 3 0 0 0 0 Furniture and Home Furnishings Stores 3 2 0 0 0 2 0 0 Building Material and Garden Equipment and Supplies Dealer 3 2 0 0 0 2 0 0 Electronics and Appliance Stores 8 5 0 5 0 0 0 0 Clothing and Clothing Accessories Stores 5 3 3 0 0 0 0 0 Motor Vehicle and Parts Dealers 7 4 0 0 0 0 0 0 Gasoline Stations 4 2 0 2 0 0 0 0 Sporting Goods. Hobby. and Musical Instrument Stores 5 3 3 0 0 0 0 0 Miscellaneous Store Retailers 5 3 0 3 0 0 0 0 Nonstore Retailers 1 0 0 0 0 0 0 0 Arts, Entertainment, & Recreation 5 3 0 0 3 0 0 0 Medical/Health Ambulatory Health Care Services 3 2 0 0 0 0 0 0 General Medicai and Surgical Hospitals 2 1 0 0 0 0 0 0 Nursing and Residential Care Facilities 7 4 0 0 4 0 0 0 Social Assistance 3 2 0 0 2 0 0 0 Services Personal and Household Goods Repair and Maintenance 7 4 0 0 4 0 0 0 Services to Buildings and Dwellings 11 7 0 0 7 0 0 0 Waste Management and Remediation Services 2 2 0 0 0 0 0 0 Real Estate and Rental and Leasing 1 0 0 0 0 0 0 0 Personal Care Services 6 4 4 0 0 0 0 0 Dry Cleaning and Laundry Services 1 1 0 0 1 0 0 0 Auto Repair and Maintenance 8 5 0 0 0 5 0 0 Veterinary Services 2 1 0 0 0 1 0 0 Photographic Services 0 0 0 0 0 0 0 0 Educational Services 18 11 11 0 0 0 0 0 Accounting 2 1 0 0 0 1 0 0 Architectural, Engineering. and Related 1 0 0 0 0 0 0 0 Specialized Design Services 1 0 0 0 0 0 0 0 Death Care Services 1 1 0 0 0 0 0 0 Legal Services 1 0 0 0 0 0 0 0 Government §a 41 2 4 9 2 3 2� Total HH Generated Per 1,000 Market -Rate Units 272 167 57 14 32 15 3 36 Total Income -Qualified HH Generated Per 100 Market -Rate Units [2] 6 1 3 2 0 0 11) Assumes 1 69 workers per worker household bawd on the 2010 Census Includes a 12 5% discount for retail and 1 9 % discount for other indusries to account for workers under age 20 121 Excludesabove moderate-inwme householdsbecausethese ,ncomes are adequateto acquire market rate housing Source Economc a Planning Systems. Inc Er,s�v.�.6 PYnnnp SvaMma mr :N1Gi3 P iafpppa:I��itaP�arb�a�n4•.per/iairJ�i�nmM�9:05 rS.m� Table B-4 Household Generation per 1,000 Market Rate Units - 3 Bedroom Palm Desert Housing Impact Fee, EPS #141134 Total Industry Employees HH [1) Very Low Low (60%) Low (80%) Med Mod Above Med Retail Unspecified Retail 3 2 0 2 0 0 0 0 Food 8 Beverage Stores 24 14 0 0 14 0 0 0 Food Services and Drinking Places 83 48 48 0 0 0 0 0 Health and Personal Care Stores 4 2 0 0 0 2 0 0 General Merchandise 6 4 0 4 0 0 0 0 Furniture and Home Furnishings Stores 4 3 0 0 0 3 0 0 Building Material and Garden Equipment and Supplies Dealer 4 2 0 0 0 2 0 0 Electronics and Appliance Stores 10 6 0 6 0 0 0 0 Clothing and Clothing Accessories Stores 7 4 4 0 o 0 0 0 Motor Vehicle and Parts Dealers 9 5 0 0 0 0 0 0 Gasoline Stations 6 3 0 3 0 0 0 0 Sporting Goods. Hobby, and Musical Instrument Stores 7 4 4 0 0 0 0 0 Miscellaneous Store Retailers 7 4 0 4 0 0 0 0 Nonstore Retailers 1 0 0 0 0 0 0 0 Arts. Entertainment, & Recreation 7 4 0 0 4 0 0 0 MedicallHeahh Ambulatory Health Care Services 3 2 0 0 0 0 0 0 General Medical and Surgical Hospitals 2 1 0 0 0 0 0 0 Nursing and Residential Care Facilities 9 6 0 0 6 0 0 0 Social Assistance 4 2 0 0 2 0 0 0 Services Personal and Household Goods Repair and Maintenance 9 6 0 0 6 0 0 0 Services to Buildings and Dwellings 14 9 0 0 9 0 0 0 Waste Management and Remediation Services 3 2 0 0 0 0 0 0 Real Estate and Rental and Leasing 1 1 0 0 0 1 0 0 Personal Care Services 8 5 5 0 0 0 0 0 Dry Cleaning and Laundry Services 1 1 0 0 1 0 0 0 Auto Repair and Maintenance 11 7 0 0 0 7 0 0 Veterinary Services 2 1 0 0 0 1 0 0 Photographic Services 1 0 0 0 0 0 0 0 Educational Services 24 14 14 0 0 0 0 0 Accounting 3 2 0 0 0 2 0 0 Architectural, Engineering, and Related 1 1 0 0 0 0 0 0 Specialized Design Services 1 1 0 0 0 0 0 0 Death Care Services 1 1 0 0 0 0 0 0 Legal Services 1 0 0 0 0 0 0 0 Government �2 41 0 Q Q 2 Q x Total HH Generated Per 1,000 Market -Rate Units 342 209 76 18 42 19 3 36 Total Income -Qualified HH Generated Per 100 Market -Rate Units [2: 8 2 4 2 0 0 (1 f Assumes 1 69 workers per worker household based on the 2010 Census Includes a 12 5% discount for retail and 1 9% discount for other industries to account for workers under age 20 (2) Excludes above mocerate-mcome households because these incomes are adequate to acquire market -rate housing Soume Economic d Planning Systems Inc Ecm.m��t Py,wySyre,ns irc HY)f)r] Pr�r(YIUn���r rJ,PnrnrDew.r�Mubl''.r�r r.Warym mb/tliV]r!./a. EXHIBIT "B" Report Nexus -Based Affordable Housing Fee Analysis for For -Sale Housing Prepared for: City of Palm Desert Prepared by: Economic & Planning Systems, Inc. April 2, 2015 �C J'JG"t;i Q,,? i'a";rr Plaza, >Jrte i i:0 Onni�nJ, LA 94612 510 6'41 c 19_" te' 510 "10 2080 Ll � EPS # 141134 0oi9j ',c Sd: r'd'ner- b Los oie'I_'s www.epsys.com Table of Contents EXECUTIVESUMMARY......................................................................................................1 1. AFFORDABILITY GAP ANALYSIS...................................................................................7 ProductType.......................................................................................................... 7 Development Cost Assumptions................................................................................ 9 RevenueAssumptions.............................................................................................. 9 Affordability Gap Results........................................................................................ 10 2. DEMAND -BASED NEXUS FEE CALCULATION................................................................... 11 Market -Rate Household Income Levels..................................................................... 11 Household Expenditures and Job Creation by Income Level ......................................... 11 Demand for Public -Sector Workers.......................................................................... 15 Combined Demand for Income -Qualified Workers ...................................................... 16 FeeCalculation..................................................................................................... 16 APPENDIX A: Household Expenditures and Employment Generation APPENDIX B: Income Levels for Worker Households List of Figures and Tables Figure 1 Illustration of Nexus -Based Housing Fee Methodology ........................................... 2 Table 1 Summary of Housing Impact Fees or Unit Equivalents per Market -Rate Unit ............. 6 Table 2 Financing Gap Analysis -- Rental Product Type .................................................... 8 Table 3 Income Required to Purchase Homes at Various Prices ........................................ 12 Table 4 HUD Income Limits.................................................................. Table 5 Maximum Impact Fee Calculations -- $200,000 Unit ........................................... 18 Table 6 Maximum Impact Fee Calculations -- $400,000 Unit ........................................... 19 Table 7 Maximum Impact Fee Calculations -- $600,000 Unit ........................................... 20 Table 8 Maximum Impact Fee Calculations -- $800,000 Unit ........................................... 21 Table 9 Maximum Impact Fee Calculations -- $1,000,000 Unit ........................................ 22 Table 10 Maximum Impact Fee Calculations -- $1,200,000 Unit ........................................ 23 EXECUTIVE SUMMARY Economic & Planning Systems, Inc. (EPS) was retained by the City of Palm Desert (City) to conduct a nexus study analyzing the impact that development of market -rate for -sale housing has on the demand for below -market -rate housing and, based on the results, to determine the defensible nexus -based fee that could be charged to market -rate development. The technical approach used herein quantifies the impacts that the introduction of market -rate homes have on the local economy and the demand for additional affordable housing. As new households are added to the community, local employment also will grow to provide the goods and services required by the new households. To the extent that these new jobs do not pay adequate wages for the employees to afford market -rate housing in the community, the new households' spending is creating a need for affordable housing. A nexus -based affordable housing fee is therefore based on the impact of the new market -rate homes on the demand for affordable housing. The fee calculated in this study represents the maximum fee that may be charged to new market -rate housing units to mitigate their impacts on the affordable housing supply. Such fees are then used by the City to subsidize the production of new affordable units for lower -income households not accommodated by market -rate projects. Calculating the impact of market -rate development in the City on affordable housing needs, and the fees needed to mitigate those impacts, involves three main analytical steps: Step #1. Estimate the typical subsidy required to construct units affordable at various income levels (the "affordability gap"). The analysis focuses on very -low, low-, and median - income households. Step #2. Determine the market -rate households' demand for goods and services, the jobs created by that demand, and the affordable housing needs of workers in those jobs. Step #3. Combine the affordability gap with the affordable housing demand projections to compute the maximum supportable nexus -based affordable housing fees per market -rate unit. These technical steps are illustrated in Figure 1 and detailed in the body of this Report and the attached Technical Appendices. The findings regarding each of these steps are presented below. Economic & Planning Systems, Inc. Figure 1 Illustration of Nexus -Based Housing Fee Methodology If negative Subsidy Required Step #1 Affordability Gap Analysis Affordable Develo ment (Subsidy Required to Construct Unit Value minus p equals Affordability affordable Units) by Income Costs Gap No Subsidy If positive Required Required Total Workers to Step #2 Market Rate Household Household Provide Goods and Total Demand for Affordable Housing Demand g Home Price Income Expenditures by Category Services by Affordable Units for Workers (Generated by Market Rate Housing) Level Expenditure Category Step #3 Affordabilit Demand for Maximum Compute Impact Fee y multiplied Affordable Units for equals Supportable Nexus - Gap p Gap by Workers Based Housing Fee per Market Rate Unit (Subsidy Required) (per market rate unit) (per market rate unit) Economic B Planning Systems. Inc 2/5/2015 P .1d10005 141134Pe11nyesert MWItlei f3e!orseremcaei0205' 5.Is+ Nexus -Based Affordable Housing Fee Analysis for For -Sale Housing 04102115 1. The costs to construct affordable housing units affordable to many households exceed those units' values based on the rents or prices that the households can afford to pay. The subsidy required to construct affordable housing units in Palm Desert ranges from roughly $58,000 for a Median Income household to $164,000 for a Very Low Income (VLI) household. Moderate Income households do not appear to require subsidies, as affordable prices for such households appear able to support the costs of construction. An "affordability gap analysis" evaluates whether or not the costs to construct affordable units exceed the values of units that are affordable to lower- and moderate -income households. For each affordable housing income level (Very Low Income [VLI], Low Income [LI], Median Income, and Moderate Income) this analysis estimates the subsidy required to construct affordable housing units. The affordability gap analysis assumes that the average affordable unit for all income levels will be a 2-bedroom unit in a multifamily development. The estimated costs to construct the prototypical affordable unit are based on published data sources (RS Means Cost Estimator) indexed to Coachella Valley labor and materials costs, and have been vetted with developers active in Coachella Valley. The costs of land acquisition are included in these development cost calculations, and have been based on recent appraisals for residential land in Palm Desert. For units that are eligible for non-competitive Low Income Housing Tax Credits (4 percent tax credits), the value of those tax credits is deducted from the development costs. A household's ability to pay is estimated based on standard percentages of income available for housing costs at each household income level. Income available for housing costs is then converted into a monthly affordable rent and a capitalized unit value or an affordable mortgage payment and supportable home price. This unit value is then compared to the costs of development to determine the subsidy, if any, required to make the unit affordable to each income level. 2. The demand for affordable housing generated by the expenditures of new households in Palm Desert increases along with the market -rate home price (and related buyer income). For example, a home that sells for $200,000 is estimated to create demand for 0.1 affordable housing units requiring development subsidy, while a unit that sells for $1.0 million creates demand for 0.356 affordable units. A justified nexus fee is based on the total demand for affordable housing units generated by construction of market -rate units. The link (or nexus) between market -rate housing and increased demand for affordable housing is that residents of market -rate units demand goods and services that rely on many wage earners (for example, retail sales clerks) who typically cannot afford market -rate housing and thus require affordable housing. Because more expensive housing units require buyers to have higher incomes, and higher income households create more jobs through their spending, the nexus impacts and thus the justified fees for for -sale units vary according to the price range of the market -rate units. Nexus impacts and the justified fees for market -rate homes, therefore, vary based on home price. Economic & Planning Systems, Inc. Nexus -Based Affordable Housing Fee Analysis for For -Sale Housing 04102115 This analysis evaluates the demand for affordable housing generated by a range of home prices. For each unit price, the demand -based nexus fee calculation involves the following steps: A. Market -Rate Household Income Levels. The required income levels of households occupying new market -rate housing are derived based on the home price, assuming standard housing cost expenses as a proportion of overall household income. For example, a typical household buying a recently constructed market -rate unit for around $400,000 would have an annual income of roughly $93,000, if they spent 30 percent of their income on housing costs (mortgage, taxes, insurance, and HOA expenses). B. Household Expenditures. Based on the household income computed in Step A, Consumer Expenditure Survey data was used to evaluate the spending patterns of the household. This analysis provides an estimate of how much the household spends on specific categories of expenditures, such as "Food at Home." As the households' income increases along with the price of the market -rate units, the total spending on goods and services also increases. The Consumer Expenditure Survey also indicates that these relationships are not linear (e.g., a household with twice the income does not necessarily spend twice as much on food). C. Job Creation and Worker Households. Having estimated the households' spending on various items, that spending is then converted into an estimation of jobs created. For each expenditure category, data regarding average worker wages and the ratio between gross business receipts and wages were used to translate these household expenditures into the total number of private -sector workers. For selected public -sector jobs that typically grow in proportion to the local population size (e.g., teachers), the demand for new workers was estimated by relating current levels of employment in such categories to the current population and applying this ratio to future development. Because each new worker does not represent an independent household (Palm Desert has an average of 1.52 workers per working household), the total number of new households created is somewhat less than the number of new jobs created. EPS has further adjusted the household formation rates to reflect the expectation that a certain proportion of workers will not form their own households, particularly those of younger ages.' D. Worker Households by Income Category. Each worker household generated is assigned to an income category —Very Low Income (VLI), Low Income (LI), Median, Moderate, and Above Moderate —based on its estimated gross wages. This provides the total number of households generated at each income level by construction of market - rate units at various price points. The results indicate that residents of lower -priced units generate fewer worker households requiring affordable housing than do residents of higher -priced units. 1 BLS data indicates that 12.5 percent of retail/restaurant workers are age 16-19, but an average of only 1.9 percent of workers in other industries. EPS has assumed that such young workers do not form their own households. Economic & Planning Systems, Inc. 4 Nexus -Based Affordable Housing Fee Analysis for For -Sale Housing 04102115 These steps of the nexus -based fee calculation provide the total number of income -qualified workers required to meet the needs for goods and services generated by market -rate housing. The number of workers servicing market -rate housing (at each unit size) is then converted to total income qualified households requiring affordable housing subsidy, and each such household is assumed to require one housing unit. 3. This analysis calculates the fees that could be charged to fully mitigate the impact that new market -rate housing has on Palm Desert's affordable housing demand at various representative unit sizes. These fees could range from roughly $13,400 for units sold at $200,000 to $58,400 for units sold at $1.2 million. The nexus fee is calculated by applying the number of affordable units needed by income qualified households to the affordability gap for each housing income category. This calculation is made for several different market -rate home prices. Table 1 summarizes the maximum nexus -based fees calculated for representative home prices. The City may also consider whether to allow developers to provide affordable units within their projects, rather than paying the nexus -based fee. Table 1 illustrates the proportions of affordable units that correspond to the fee calculation and demands created by the market -rate units. For instance, a project offering new homes in the $400,000 range would effectively mitigate the demand being created by the market -rate units if it provided 0.17 affordable units (very -low, low, and median income) for each market -rate unit. Please note that these maximum fees are based on the nexus relationship of affordable housing demand created by new market - rate units; EPS recommends that the City consider the feasibility impact of imposing fees while setting any fee on new housing. Economic & Planning Systems, Inc. Table 1 Summary of Housing Impact Fees or Unit Equivalents per Market -Rate Unit Palm Desert Housing Impact Fee, EPS #141134 Market -Rate Unit Price Maximum Impact Fee Percent of Price Total Affordable Units Low (50%) Generated/100 Market -Rate Units Low (60%) Low (80%) Med (100%) $200.000 $13,406 6.7% 10.0 4.8 1.2 2.7 1.3 $400,000 $22,950 5.7% 17.0 8.3 2.0 4.6 2.1 $600,000 $33,182 5.5% 24.4 12.3 2.5 6.8 2.8 $800,000 S39,551 4.9% 28.8 15.0 2.7 8.2 2.9 $1,000,000 $48,945 4.9% 35.6 18.6 3.3 10.2 3.6 S1,200,000 $58,390 4.9% 42.5 22.2 3.9 12.2 4.3 Source Economic 8 Planning Systems, Inc Econ-c 6 Planning Systems, lnc 2/52015 1. AFFORDABILITY GAP ANALYSIS For any nexus -based affordable housing fee calculation, it is necessary to estimate the subsidy required to construct affordable housing units. Table 2 shows the subsidy needed to produce multifamily housing that is affordable to very low-, low-, median- and moderate -income households. Product Type This analysis assumes that new lower -income worker households would be housed in multifamily developments in Palm Desert. Developable residential land in Palm Desert is assumed to be approximately $200,000 per acre, based on an appraisal provided to the City by Lidgard and Associates. EPS has assumed that these projects will have an average density of 20 units per acre, and be built in wood -frame buildings of two to three stories with surface parking. In order to determine the average household size of future affordable housing units, EPS used two estimates from the Census Bureau. The American Community Survey indicates that the average household size in Palm Desert is 2.05 people while the average family size is 2.75 people. The household size figure is significantly skewed by the high population of retirement - age people in Palm Desert, where 46.1 percent of all households have one or more members over age 65 (vs. only 24.9 percent statewide). The average family size is considered more representative of worker households in Palm Desert, so the average household size for future workers is assumed to round up to three people and EPS uses this assumption to determine the applicable income limits for the new units. The assumption that the average worker household requires a two -bedroom unit is expected to be conservative, as many working families in the Coachella Valley have more than three members. By assuming an average two -bedroom unit size rather than something larger, the costs of construction and subsidy for affordable housing are expected to be minimized. California State law (California Health and Safety Code Section 50052.5) assumes that a 2- bedroom unit is occupied by a 3-person household, and this assumption is used in this analysis. An affordable 2-bedroom unit in Palm Desert is assumed to have a gross size of about 1,200 square feet (accounting for shared lobbies, hallways, etc.) and a net size of 1,000 square feet — both somewhat smaller than recently constructed market rate units, but similar to recent affordable housing developments. This analysis assumes that all new affordable housing would be rental units, rather than for -sale units. This assumption reflects the fact that many households at lower incomes will not have adequate wealth reserves for down payments on homeownership units, and may have further difficulty absorbing the ongoing costs of homeownership (taxes, repairs, etc.) that they can effectively avoid by renting their homes rather than buying. Economic & Planning Systems, Inc. 7 . 1 m�....... ......� Table 2 Financing Gap Analysis - Rental Product Type Palm Desert Housing Impact Fee, EPS #141134 Item Very Low Income (50% AMI) 2 Stories Multifamily With Surface Parkin ow Low a Ian Income Income Income (60% AMI) (80% AMI) (100% AMI) Moderate Income (120 % AMI) Development Program Assumptions Density/Acre 20 20 20 20 20 Average Gross Unit Size 1.200 1.200 1.200 1,200 1,200 Average Net Unit Size 1,000 1.000 1.000 1.000 1.000 Average Number of Bedrooms 2 2 2 2 2 Average Number of Persons per Household 3 3 3 3 3 Parking Spaces/Unit 2.0 2.0 2.0 2.0 2.0 Cost Assumptions [1] Land/Acre (21 $200,000 $200.000 $200.000 $200.000 $200.000 Land%Unit $10,000 $10.000 $10,000 $10.000 $10,000 Direct Construction Costs/Gross SF (31 $150 $150 $115 $115 $115 Direct Construction Costs/Unit $180,000 $180.000 $138.000 S138.000 $138,000 Parking Construction Costs/Space $2,500 $2.500 S2,500 $2,500 $2.500 Parking Construction Costs/Unit S5,000 $5,000 S5.000 $5,000 $5.000 Subtotal, Direct Costs/Unit S185,000 $185.000 $143.000 S143.000 $143.000 Indirect Costs as a % of Direct Costs (41 60% 60% 35 % 35% 3 5 %6 Indirect Costs/Unit S111,000 $111,000 $50,050 $50,050 $50,050 Total Cost'Unit $306.000 $306.000 $203,050 S203.050 $203.050 less Value of 4% Tax Credits (5] -$118.400 -$118.400 $0 $0 $0 Net Cost/Unit $187.600 $187.600 $203,050 $203.050 $203.050 Maximum Supported Unit Value Household Income (6] $27.350 $32.820 S43,700 $54.700 $65,640 Income Available for Housing Costs/Year [71 S8.205 $9.846 $13.110 $16.410 $19,692 less Utility Allowance [8] $2.400 $2.400 $2,400 $2,400 $2.400 Remaining Income Available for Rent $5.805 $7.446 $10.710 $14,010 $17,292 Operating Expenses per Unit/Year (91 $4,500 $4.500 $6,031 $6.031 $6.031 Net Operating Income $1.305 $2.946 S4,680 $7,980 $11.262 Capitalization Rate [10) 5.5% 5.5% 5.5% 5.5% 5.5% Total Supportable Unit Value $23.727 $53.564 $85.082 $1.45.082 $204,755 Financing Gap $163,873 $134.036 $117,968 $57.968 $0 [1) Costs for 50-60 % AMI units assume protects are built by non-profit builders. and require prevailing wage. For units at 80-120% of AMI. EPS has assumed lower development costs consistent with for -profit builders' cost bases, and do not assume prevailing wage. 121 The land costs represent an expected price for developable residential land, per a December 2014 appraisal provided to the City of Palm Desert. 131 Includes costs for labor and materials. (4] Includes costs for architecture and engineering: entNement and fees: project management. marketing, commissions. and general administration: financing and charges. insurance. and contingency. Tax credit projects (at or below 60% AMI) are assumed to include developer fee at 14% of eligible basis. (5) 4 % Tax Credits are assumed t1 be received for units at 60% AMI or below Value of tax credits is estimated at 40% of eligible basis, which is all direct and indirect costs but excludes land (6] Based on HCD 2014 income limits for Riverside -San Bernardino -Ontario MSA. (7) Assumes housing costs to be 30% of gross household income. (8) Based on Housing Authority of Riverside County Allowances for Tenant Furnished Utlities and other Services assuming an apartment using natural gas for heating and cooking 191 Operating expenses include costs of tenants' utilities. Units for households above 60% AMI are assumed t7 be built as for -profit protects and thus subject to property tax (10] Capitalization rate estimated by EPS based on recent apartment industry investment standards. Econp 6Plr,nrnry 5,We Inc 2'STC 15 8 P- 141000s'.141174P:dm,D,, l'Moan"1411341nsalenxx 1020515r11, Nexus -Based Affordable Housing Fee Analysis for For -Sale Housing 04102115 Development Cost Assumptions Affordable housing development costs include land costs, direct costs (e.g. labor and materials), indirect or "soft" costs (e.g., architecture, entitlement, marketing, etc.), and developer profit. For rental projects, operating costs also must be incorporated into the analysis. Data from recent Palm Desert development and recent land transactions have been combined with EPS's information from local housing developers and published data sources to estimate development cost assumptions for a prototypical project in Palm Desert. These cost assumptions are shown on Table 2. Projects offering units affordable to households at or below 60 percent of Area Median Income (AMI) are typically eligible for "4%" Low Income Housing Tax Credits, which yield equity equal to roughly 40 percent of the "eligible basis" of the development (all project costs excluding land acquisition). Such projects are subject to prevailing wage requirements, however, which increase their direct costs substantially. Also, the developer's fee for such projects is included as an indirect cost, and can represent up to 15 percent of the eligible basis.2 These added costs are more than offset by the value of the tax credit, however, so the net cost of development for such units is estimated to be slightly less than the cost of developing units for households at 80 to 120 percent of AMI. Revenue Assumptions To calculate the values of the affordable units, assumptions must be made regarding the applicable income level (moderate, median, LI, and VLI) and the percentage of income spent on housing costs. In addition, translating these assumptions into unit prices and values requires estimates of operating expenses, capital reserves, and capitalization rates. The following assumptions were used in these calculations: Income Levels —The maximum allowable incomes used in each affordable housing income category are consistent with those set forth by the federal government (U.S. Department of Housing and Urban Development [HUD]): VLI = 50 percent of Area Median Income (AMI), LI 60% = 60 percent of AMI, LI 80% = 80 percent of AMI, Median Income = 100 percent of AMI, and Moderate Income = 120 percent of AMI. Percentage of Gross Household Income Available for Housing Costs—HCD standards on overpaying for rent indicate that households earning less than 80 percent of AMI should pay no more than 30 percent of their gross income on housing costs. For this analysis, EPS has assumed that all income qualified renter households shall spend 30 percent of their gross income on housing costs, including rent and utilities. • Other Costs Included for Rental Units —In addition to rent payments, the analysis assumes $200 per month in utility costs based on the Riverside County Housing Authority utility allowance table. This amount is subtracted from the total available housing costs (30 percent of household income) to determine the net amount available for rent payments. 2 Limited by Section 10327(c)(2) of the CA Code of Regulations, Title 4, Division 17, Chapter 1. Economic & Planning Systems, Inc. 9 > .,.,a.,%,,,,,. m—. ".a.�.,.,.111..1�,o. ",... . Nexus -Based Affordable Housing Fee Analysis for For -Sale Housing 04102115 Operating Costs for Rental Units —The analysis assumes that apartment operators incur annual costs of $4,500 per unit for VLI and LI 60% units and about $6,000 for LI 80%, Median, and Moderate units. EPS has assumed the LI 80%, Median, and Moderate income units would be built by for -profit builders and subject to property taxes. Affordability Gap Results Table 2 shows the subsidies for construction of for -rent apartments for VLI through moderate - income households. The affordability gap ranges from $0 for moderate -income households (i.e., moderate -income households can afford home prices adequate to cover the costs of construction) to roughly $164,000 for VLI households. The affordability gap for VLI households is much higher because these households have significantly less income available for housing costs, while construction costs remain essentially the same. The affordability gaps by income level then were used to calculate the justified nexus -based fees by multiplying this required subsidy by the number of units required to house workers providing goods and services to new market -rate housing development. This methodology is discussed in more detail in the following chapter. Economic & Planning Systems, Inc. 10 .-1-1., "...—. 2. DEMAND -BASED NEXUS FEE CALCULATION The maximum supportable nexus fees are based on both the affordability gap, calculated in the previous chapter, and the estimated impact that new market -rate units have on the need for affordable units, as reflected in the number of income -qualified local workers required to support the residents of market -rate units and the total subsidy required to construct housing for those workers. This approach is based on the following logic: (a) residents of market -rate housing have disposable incomes and require a variety of goods and services (including private sector goods and services and government services); (b) the provision of those goods and services will require some workers who make moderate or lower incomes and cannot afford market -rate housing; and (c) fees charged to market -rate projects can mitigate the impact of those projects on the increased need for affordable housing. Market -Rate Household Income Levels Households with larger incomes typically spend more on goods and services, therefore creating additional lower income jobs, which in turn generate a greater demand for affordable housing. To assess the impact that market -rate homes have on the need for affordable housing, EPS determined the minimum income required to purchase a newly constructed home at various prices, as shown in Table 3. These calculations are predicated on the assumption that a household will spend 30 percent of their income on housing costs (mortgage principal and interest, taxes, insurance, and homeowner association dues). As shown, required household incomes range from approximately $50,000 for a $200,000 unit to roughly $265,000 for a $1.2 million home. Household Expenditures and Job Creation by Income Level Having established the income requirements for renting apartments of various sizes, the fee calculation then requires an analysis of the household spending patterns at those required income levels. Consistent with nexus fee calculations and impact analysis for schools, parks, roads, etc., this analysis also assumes that all households renting new market -rate units in Palm Desert are "net new" households to the City. To assume otherwise —for instance, that only those buyers or renters of new housing units relocating from outside Palm Desert should be counted in the impact analysis —would require assuming that the homes left by those households Economic & Planning Systems, Inc. 11 0-il. m...rt%.-;"",.-. ..,,l,,..-,. Table 3 Income Required to Purchase Homes at Various Prices Palm Desert Housing Impact Fee, EPS #141134 Annual Annual Annual Total Required Assumed Down Beginning Mortgage Taxes HOA+ Annual Household Base Payment at Mortgage Payment at 1.25% Insurance Housing Income Price 20% Principal [1] [2] Fees [3] Costs [4] S200,000 $40,000 $160.000 $10,408 $2,500 $2,184 $15,092 $50,300 $400,000 $80,000 $320,000 $20,816 $5.000 $2,184 $28,000 S93,300 S600,000 $120,000 $480,000 $31.225 $7,500 $2,184 $40.909 $136,400 $800,000 $160,000 $640,000 S41,633 $10.000 $2,184 $53,817 $179.400 $1,000,000 S200,000 $800,000 $52,041 $12,500 $2,184 $66,725 $222,400 $1,200,000 $240.000 $960,000 S62,449 $15,000 $2,184 $79,633 $265,400 [1] Assumes 5.0 % interest for 30 years, reflecting higher than current rates but well below historical averages. [2] Tax rate allows for some special assessments above 1 00 % basic tax rate [31 A Redfin com survey of Palm Desert homes for sale on January 19, 2015 indicates an average HOA fee of $182/month for units listed at $550,000 or less. Some of these projects may include insurance costs in the HOA fees, while others may not. To be conservative, EPS has assumed that the average HOA fee does include insurance 141 Assumes households spend 30 % of total household income on total annual housing costs. Source: Economic & Planning Systems, Inc. Ecwom,c 6 Plammng Systems, Inc 21SQ015 P 114f000s,14ll34PalmDesertVModeAI41134rorxalemodo1020515 rlsr Nexus -Based Affordable Housing Fee Analysis for For -Sale Housing 04102115 relocating within Palm Desert would be demolished or left vacant in perpetuity. This would only be the case were the City experiencing a significant loss of population and housing inventory, as has occurred, for instance, in Detroit. Palm Desert has not experienced such declines. The Consumer Expenditure Survey from the United States Bureau of Labor Statistics provides data for households at a variety of income levels, detailing the amounts that typical households spend on things like "Food at Home," "Apparel and Services," and "Vehicle Maintenance and Repairs." Interestingly, household expenditures by category are not uniformly proportional to household income levels. For example, households earning around $50,000 (adequate to purchase a new $200,000 home) spend roughly 12.3 percent of their income on food and drink (at home and eating out), while households earning $222,000 who can afford to buy a new $1.0 million home spend only about 7.0 percent of their income on these items. Because of these and other differences in proportionate spending, the expenditure profile varies at different income levels. The household's typical expenditures were converted to the number of jobs created by their spending. The first step in this process is to determine how much of an industry's gross receipts are used to pay wages and employee compensation. EPS relied on data from the Economic Census,3 which provides employment, gross sales, and payroll data by industry for Riverside County. In certain instances, Riverside County data was not available for every Economic Census industry —in those cases, EPS relied on statewide Economic Census data for that industry. To link the Economic Census data and the Consumer Expenditure Survey data, EPS made determinations as to the industries involved with expenditures in various categories. For example, purchases in the Consumer Expenditure Survey's "Food at Home" category would likely involve the Economic Census's "Food & Beverage Stores" industry, where gross receipts were nearly 10 times the employees' wages. By contrast, purchases in the Consumer Expenditure Survey's "Entertainment Fees and Admissions" category were attributed to the Economic Census' "Arts, Entertainment, and Recreation" industry, where gross receipts are only about four times the employees' wages. Where more than one Economic Census category was attributable to a Consumer Expenditure Survey category, EPS estimated the proportion of expenditures associated with each Economic Census category. After determining the amount of the household's expenditures that were used for employee wages, an estimation of the number of employees those aggregate wages represent is required. EPS calculated the number of workers supported by that spending using the average wage per worker (also from the 2007 Economic Census). These wages ranged from a low of roughly 3 Note that the Consumer Expenditure Survey data is based on information current as of 2013 and data from the Economic Census was published in 2007, the most recent year for which comprehensive regional data is available at the time of this publication. Because the data sources were from different years, EPS converted the 2013 expenditures to 2007 dollars using the Consumer Price Index (CPI) for the Riverside -San Bernardino -Ontario Statistical Area (MSA) from the Bureau of Labor Statistics. Economic & Planning Systems, Inc. 13 Nexus -Based Affordable Housing Fee Analysis for For -Sale Housing 04102115 $14,000 per year for workers in the food services industry to a high of roughly $85,000 average salary for legal services.4 This methodology recognizes that a range of occupations and incomes exist in a given industry sector. For instance, the methodology used to generate Tables A-1 to A-6 in Appendix A distinguishes between the typical incomes of workers in different types of retail stores (e.g., "food and beverage stores" versus "general merchandise stores"), rather than assuming all retail sector workers earn the same income. However, the average wage is used for each sub- category of industry employment and represents a reasonable proxy for the range of incomes in that group: while some employees will have higher wages and require lower subsidies, others will have lower incomes and require higher subsidies. Using the average approximates the total housing subsidy needed by workers in that industry. To calculate the number of households supported by the expenditures of market -rate housing units, EPS estimated the employees' household formation rates. Importantly, employees generated from the increase in housing units do not all form households; some employees, in the retail and food services industries in particular, are young workers and do not form households. Data from the Bureau of Labor Statistics indicates that 12.5 percent of retail/restaurant workers are age 16-19, but an average of only 1.9 percent of workers in other industries. EPS applied these discounts to household formation to get a more accurate calculation of households formed by the employees and the average total incomes of those households. To get the overall households' income rather than the individual workers', the wages of workers forming households were multiplied by the average of approximately 1.52 workers per working household in Palm Desert.5 This assumption implies the workers in a given household will have roughly equivalent pay per hour. While certainly there will often be some variation in wages per employee within a household, on average this assumption is reasonable because it implies comparable levels of education and training among all workers in a household. The average household incomes then are allocated to various income categories to estimate the number of affordable housing units demanded in each income category (VLI, LI, Median, and moderate - income). 4 Note that the average salary reported for legal services reflects the full range of workers employed by that industry sector, including administrative staff and entry-level employees, as well as the attorneys. 5 Workers per working household based on American Community Survey (ACS) Census data current as of January 2015. The average workers per working household estimate is calculated by taking the total number of people in the labor force and dividing it by the number of households with earnings. This methodology seeks to provide a conservative estimate of household formation by excluding households without workers or earnings (such as those with retired persons). Economic & Planning Systems, Inc. 14 Nexus -Based Affordable Housing Fee Analysis for For -Sale Housing 04102115 A simplified example of these calculations follows: A. Number of Households (prototype project) 1,000 B. Average Household Income (in the project) $75,000 C. Aggregate Household Income (A x B) $75 million D. Average Income Spent on Retail (Consumer Expenditure Survey) $20,000 E. Aggregate Retail Spending (A x D) $20 million F. Retail Gross Receipts: Payroll Ratio (Economic Census) 10:1 G. Estimated Retail Payroll (E _ F) $2 million H. Average Retail Wage (Economic Census) $20,000 I. Estimated Total Retail Jobs (G _ H) 100 J. Percent Age 20+ (Bureau of Labor Statistics) 87.5% K. Total Retail Workers Forming Households 88 J. Average Workers/Household (Census Data) 1.52 K. Estimated Households Created (I _ J) 58 L. Average Household Income (H x J) $30,400 M. Income Category (HCD Income Standards) LI 60% In this simplified example, 1,000 new market -rate homes sold to households earning $75,000 per year would create demand for 58 housing units for retail workers' households typically earning less than 60 percent of AMI. Actual calculations and impact distinctions by type of household expenditure for various home prices are shown in the series of tables presented in Appendix A. Demand for Public -Sector Workers In addition to the jobs created by the spending of the new market -rate households, this analysis also aims to evaluate the number of public -sector employees generated by the public service demands of new market -rate households. Rather than a comprehensive computation of public - sector employment, the analysis aims to be conservative by sampling only certain public -sector jobs (e.g., teachers and transportation providers) that are expected to grow in proportionate measure to household growth. Data from the 2013 Occupational Employment Survey for the Riverside -San Bernardino -Ontario MSA was used to determine the number of these public -sector employees needed to serve new market -rate development, and the average annual wage among each selected public -sector job type. EPS reviewed the data and sampled occupations that were public sector -related, as shown in Table A-5 in Appendix A. Based on the ratio of the selected public -sector jobs to the total households in the MSA, EPS estimates that approximately 62 government jobs or 41 households with a government employee are required per 1,000 total households. These figures are conservative (i.e., low) because numerous types of public -sector jobs are not included in this analysis (such as federal postal workers, County health and human services workers, etc.). Also, please note that EPS has no basis to distinguish differences in the number of public -sector workers demanded by households based on different income levels, so the same numbers of public -sector jobs are assumed to be generated by units of all prices. Economic & Planning Systems, Inc. 15 Nexus -Based Affordable Housing Fee Analysis for For -Sale Housing 04102115 Combined Demand for Income -Qualified Workers The total number of income -qualified households required to support the expenditure and public - sector service needs of new market -rate units were determined based on the affordable housing income limits from HUD for a 3-person household. Table 4 summarizes the HUD income limits used to compute the total number of income -qualified households generated by construction of market -rate units.6 The numbers of income -qualified households required to provide goods and services to new housing units at various prices are detailed in Appendix B. The nexus methodology used herein computes the total number of income -qualified households generated by market -rate units and calculates the impact fee based on the estimated cost to subsidize the production of units to meet that affordable housing demand. This methodology does not suggest that all lower income service workers serving City residents reside in the City, but it does assume that new development should mitigate for the new affordable housing demand it creates. Fee Calculation The affordability gap analysis quantifies the subsidy required to construct affordable housing at various income levels (VLI, LI, Median, etc.). Analysis of consumer expenditures that rely on lower wage workers provides an estimate of the total number of income -qualified households generated by new for -sale units. Then for each category of market -rate units, the nexus -based fee is calculated by applying the total number of income -qualified households generated to the affordability gap computed for each affordable household income level. The analysis provides the maximum supportable nexus -based fees for new housing development in the City of Palm Desert. Tables 5 through 10 show the impact fee calculation for different prices of homes. The total impact fees required for a representative project of 100 units is calculated by multiplying the number of affordable units required per income level by the cost of subsidizing such housing. All income -qualified households are assumed to be housed in multifamily units and the subsidies needed are calculated as the affordability gaps shown in Table 2. The resulting maximum impact fee for market -rate rental units ranges from approximately $13,400 for homes sold at $200,000 to roughly $58,400 for homes sold at $1.2 million. 6 To correspond to the available data regarding employee wages, the 2007 Riverside County affordable housing income limits from HUD and HCD were used to determine the number of income - qualified households, based on household expenditures, while 2013 income limits were used for public -sector employment. Economic & Planning Systems, Inc. 16 o...,e�,.,.,:,...;ma,. •w �.,.,:, w„o.:,.,.gym.. Table 4 HUD Income Limits Palm Desert Housing Impact Fee, EPS #141134 2007 2013 2014 Percentage of Max Income Threshold Max Income Threshold Max Income Threshold Affordability Category County Median 3-person household 3-person household 3-person household Very Low Income (LI) - 50% 31 % - 50% $26,650 $28,700 $27,350 Low Income (LI) - 60% 51 % - 60% $31,980 $34,440 $32.820 Low Income (LI) - 80% 61 % - 80% $42.600 $45,900 $43,700 Median Income (Med) 81%- 100% $53,300 $57,400 $54,700 Moderate Income (Mod) 101 % - 120% $63,960 $68.880 $65,640 Above Moderate Income (Above Mod) 120%+ 'NoteData for Riverside -San Bernardino -Ontario, CA MSA Sources US Department of Housing and Urban Development. California Department of Housing and Community Development, Economic 8 Planning Systems, Inc. Ec—c d Pi—gq Sysemc. lnc 2/5'2015 P11410001141134Pa1mOeserfM.d.Af41f341a-le,,AgO2Obl5:I- Table 5 Maximum Impact Fee Calculations — $200,000 Unit Palm Desert Housing Impact Fee, EPS #141134 Item Affordable Units Required Per 100 Market -Rate Units (A) Total Impact Fee Required Financing Gap per Per 100 Market -Rate Per Market Rate Unit Affordable Unit [1] Units (B) (C=A-B) (D=C/100) Affordable Units - Very Low Income (50%) 4.8 $163,873 $781,605 Affordable Units - Low Income (60%) 1.2 $134,036 $161,379 Affordable Units - Low Income (80%) 2.7 $117,968 $321,492 Affordable Units - Median Income 1_3 $57,968 $76,165 Total 10.0 S 1.340,640 m [1) Subsidies are based on financing gap for rental units, as shown on Table 2. Source: Economic & Planning Systems, Inc $13,406 Econw d PI--g Systems, Inc 2/84015 P 1141000sl 1e 1134Pa1mDes fr Modet.. 1411341ws 1l de1020515 x/sx Table 6 Maximum Impact Fee Calculations — $400,000 Unit Palm Desert Housing Impact Fee, EPS #141134 Item Affordable Units Required Per 100 Market -Rate Units (A) Total Impact Fee Required Financing Gap per Per 100 Market -Rate Per Market Rate Unit Affordable Unit [1] Units (B) (C=A-B) (D=C/100) Affordable Units - Very Low Income (50%) 8.3 $163,873 $1,357,807 Affordable Units - Low Income (60%) 2.0 $134,036 $270,207 Affordable Units - Low Income (80%) 4.6 $117,968 $544,178 Affordable Units - Median Income 2_1 $57,968 $122,847 Total 17.0 $2, 295, 039 [11 Subsidies are based on financing gap for rental units, as shown on Table 2. Source Economic & Planning Systems, Inc $22,950 Econom,c & Plnm,ng Systems. Inc 21WO 15 P 1141000s' 141134PelmDeserllM.d.AY41134/orselemode1020515 Is. Table 7 Maximum Impact Fee Calculations — $600,000 Unit Palm Desert Housing Impact Fee, EPS #141134 Item Affordable Units Required Per 100 Market -Rate Units (A) Total Impact Fee Required Financing Gap per Per 100 Market -Rate Per Market Rate Unit Affordable Unit [1] Units (B) (C=A-B) (D=C/100) Affordable Units - Very Low Income (50%) 12.3 $163,873 $2,015.437 Affordable Units - Low Income (60%) 2.5 $134.036 $340,053 Affordable Units - Low Income (80%) 6.8 $117,968 $802,698 Affordable Units - Median Income 2_8 $57,968 $160,058 Total 24.4 S3,318,246 N O [1] Subsidies are based on financing gap for rental units, as shown on Table 2. Source. Economic & Planning Systems, Inc $33,182 Economm & PI —mg Systems. Inc 21WO15 P-!141000s;141/34PalmDese,f•ModeE1d1134lorselon od,1020515 rlsr Table 8 Maximum Impact Fee Calculations — $800,000 Unit Palm Desert Housing Impact Fee, EPS #141134 Item Affordable Units Required Per 100 Market -Rate Units (A) Total Impact Fee Required Financing Gap per Per 100 Market -Rate Per Market Rate Unit Affordable Unit [1] Units (B) (C=A-B) (D=C/100) Affordable Units - Very Low Income (50%) 15.0 $163,873 $2,456,571 Affordable Units - Low Income (60%) 2.7 $134,036 $357,010 Affordable Units - Low Income (80%) 8.2 $117,968 $971,179 Affordable Units - Median Income 2_9 $57,968 $170,312 Total 28.8 $3, 955.072 1J [1] Subsidies are based on financing gap for rental units, as shown on Table 2 Source Economic & Planning Systems, Inc $39,551 Econom,c & PI-nn,g Systems, Inc 2/d2015 P 1141000s1141134PaImDeseH Made5141134/ws Il de1020515 rlsr Table 9 Maximum Impact Fee Calculations — $1,000,000 Unit Palm Desert Housing Impact Fee, EPS #141134 Item Affordable Units Required Per 100 Market -Rate Units (A) Total Impact Fee Required Financing Gap per Per 100 Market -Rate Per Market Rate Unit Affordable Unit [1] Units (B) (C=A-B) (D=C/100) Affordable Units - Very Low Income (50%) 18.6 $163,873 $3,045,381 Affordable Units - Low Income (60%) 3.3 $134.036 $436,264 Affordable Units - Low Income (80%) 10.2 $117,968 $1,203.958 Affordable Units - Median Income 3_6 $57,968 $208,894 Total 35.6 $4.894,497 N N [1] Subsidies are based on financing gap for rental units. as shown on Table 2. Source. Economic 8 Planning Systems, Inc. $48,945 Ec000mc 6 Planning Systems, Inc 2/0/2015 P 1141000s!.141134PalmOesertlModeA..1411341asalemode1020515 xlsx Table 10 Maximum Impact Fee Calculations — $1,200,000 Unit Palm Desert Housing Impact Fee, EPS #141134 Item Affordable Units Required Per 100 Market -Rate Units (A) Total Impact Fee Required Financing Gap per Per 100 Market -Rate Per Market Rate Unit Affordable Unit [1] Units (B) (C=A-B) (D=C/100) Affordable Units - Very Low Income (50%) 22.2 $163.873 $3,634,191 Affordable Units - Low Income (60%) 3.9 $134,036 $520,613 Affordable Units - Low Income (80%) 12.2 $117,968 $1.436,738 Affordable Units - Median Income 4_3 $57,968 $247,477 Total 42.5 $5,839,019 N W [1 ] Subsidies are based on financing gap for rental units, as shown on Table 2. Source. Economic 8 Planning Systems, Inc $58,390 Econo 6 Pl—n g Systems. Inc 2/6/2015 P 114 lOOOsll4l l34PalmDeserf$Mode111411341wwlem de1020515 xlsx APPENDICES: Appendix A: Household Expenditures and Employment Generation Appendix B: Income Levels for Worker Households APPENDIX A: Household Expenditures and Employment Generation Table A-1 Estimated Average Annual Household Expenditures and Associated Employment Generation - $200,000 Unit ............A-1 Table A-2 Estimated Average Annual Household Expenditures and Associated Employment Generation - $400,000 Unit ............A-2 Table A-3 Estimated Average Annual Household Expenditures and Associated Employment Generation - $600,000 Unit ............A-3 Table A-4 Estimated Average Annual Household Expenditures and Associated Employment Generation - $800,000 Unit ............A-4 Table A-5 Estimated Average Annual Household Expenditures and Associated Employment Generation - $1,000,000 Unit .......... 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' " "=" =� ". `~ ...~ .~ ~~ .~ ~ ~.~ `. �~ �~ ....—.~... ~~~~~ . ~ , �~ ^. "~ .~ . . ~ ' "— "°° �� ' ^~ � ' `'~ L w% St.,° ,� . .t ". = ~~ ~ Si,~ ~~ , ~" ~^~~ ~` ^~ `~ "� '~ IN ^~~ ~ .—. ~^ `~~ '^~ ' ''" ~ ~~ "=` -d�� "~ `'~ I '�^' ~~ ' ~` .. ~ �" ` �'��� ' "_~~°° .` .` . =. ~~~~ ^^ ~ ^ ~ ~~ . `��-������ ~ —, ._' ^' .—~ 1.m1 . .` .. °_ ~. .~. ^^~ .. "~~ ..~ .~ ,~ ~.` .` ~ ~ .~ ~ ~ .. ..� ..~. ~~ .~ "~ .~ ~� .~- ~~ . .^ . ^`^.� VLI ~^ ^� ~~ ~ ." `~^ ~ ,` ~ ,~~ �.� .. ~~ `~~ .. ~� �~ , .. . .` ~ .~ . ~~� � ' ~~ "°~ �� .` �. � S. � 1� ~~ .~ `. � � '~ .. �� °.� .~.^ .� ,.� .� ..�I .. ~.. `~~ . .� , .. . .` . I — . �. ��D . N� VL: ' 1 ~ Id `tlo "~,~ "~ ~ ~ It � ^^~ .~~ ..~ .~ ..~ ". .. ~ .. . ' ~~ VU . ., ~ =~ .~. .. .. =�~~ . ., .. .` .. ^~ ,.~ ,.. .^� `�~.` `~~ '~ ..~� ~~ ^ .. " �. . — ' ~� .~ ^ ,.~~~"~ ,'~�~~.~~~^~�~— ,.~.^.~.—."-~...^.~...~.~.~~_.`~._��~~~.~ 2— F :11'�������:�:�^^—~~~~~~�~~~~~~~~'-~~~'--�~ Table A-7 Representative Government Employment and Wages, 2010 [1] Palm Desert Housing Impact Fee, EPS #141134 Item 2013 Govt. Employment [2] 2013 MSA Total HH [3] Govt. Empli 1,000 County HH Govt. Govt. Employee Employee 2013 Avg. HH Income HH [4] Wage [2] [4] 2013 Income Category [5] Protective Service Occupations 33.990 1.297.675 26 17.3 $49,516 $83.715 Above Mod Preschool Teachers. Except Special Education 3.170 1.297,675 2 1.6 $30.837 $52,135 Med Kindergarten Teachers, Except Special Education 2,250 1.297.675 2 1.1 $68,240 $115.372 Above Mod Elementary Schooi Teaches, Except Specal Education 17,170 1.297.675 13 8.7 $73,835 $124.831 Above Mod Middle School Teachers, Except Special and Vocational Education 5,170 1.297.675 4 2.6 575.221 $127.174 Above Mod Secondary School Teachers, Except Special and Vocational Education 6,370 1.297.675 5 32 $70,952 $119.957 Above Mod Spec,ai Education Teachers. Preschool, Kindergarten, and Elementary School 2.280 1.297,675 2 1.2 $79.187 $133.879 Above Mod Special Education Teachers, Middle School 640 1.297.675 0 03 $69.495 $117,493 Above Mod Special Education Teachers, Secondary School 930 1,297.675 1 0.5 $68,281 $115,441 Above Mod Teachers and Instructors. All Other 2.610 1,297.675 2 1.3 $58.528 $98.952 Above Mod Bus Dnvers, Transit and Intercity 1,020 1,297,675 1 0.5 $39.593 $66.939 Mod Bus Drivers, School 4,710 1,297.675 4 2A $34,959 $59.104 Mod Total 62 40.8 [1 ] Not a comprehensive list of government employment. Rather a sampling of government jobs for which employment is likely to be directly affected by increases in local population. [2] Government employment and wages based on 2013 Occupational Employment Statistics data for Riverside -San Bemardino-0ntano MSA. [3] Riverside -San Bemardino-0ntano MSA figure from 2013 ACS Census data. [4] Assumes 1 52 workers per working household per 2009-2013 Census data [5] See Table 4. Sources 2013 Occupational Employment Statistics, CA Employment Development Department. US Census. Economic 6 Planning Systems, Inc E­ "a"..—"Srs1a' ,a i'si 5 1.111b i­., —Jn..,n'Y ' r­ u1-1-10Y1^• — APPENDIX B : Income Levels for Worker Households Table B-1 Household Generation per 1,000 Market Rate Units - $200,000 Unit................................................................. B-1 Table B-2 Household Generation per 1,000 Market Rate Units - $400,000 Unit.................................................................B-2 Table B-3 Household Generation per 1,000 Market Rate Units - $600,000 Unit................................................................. B-3 Table B-4 Household Generation per 1,000 Market Rate Units - $800,000 Unit.................................................................B-4 Table B-5 Household Generation per 1,000 Market Rate Units - $1,000,000 Unit..............................................................B-5 Table B-6 Household Generation per 1,000 Market Rate Units - $1,200,000 Unit..............................................................B-6 Table B-1 Household Generation per 1,000 Market Rate Units - $200,000 Unit Palm Desert Housing Impact Fee, EPS #141134 Total Above Industry Employees HH [1j Very Low Low (60 % )Low (80 % J Med Mod Mod Retail Unspecified Retail 2 1 0 1 0 0 0 0 Food & Beverage Stores 17 10 0 0 10 0 0 0 Food Services and Drinking Places 54 32 32 0 0 0 0 0 Health and Personal Care Stores 2 2 0 0 0 2 0 0 General Merchandise 3 2 0 2 0 0 0 0 Furniture and Home Furnishings Stores 3 2 0 0 0 2 0 0 Building Material and Garden Equipment and Supplies Dealer 2 1 0 0 0 1 0 0 Electronics and Appliance Stores 7 4 0 4 0 0 0 0 Clothing and Clothing Accessories Stores 4 2 2 0 0 0 0 0 Motor Vehicle and Parts Dealers 6 3 0 0 0 0 3 0 Gasoline Stations 4 2 0 2 0 0 0 0 Sporting Goods, Hobby, and Musical Instrument Stores 4 2 2 0 0 0 0 0 Miscellaneous Store Retailers 4 2 0 2 0 0 0 0 Nonstore Retailers 1 0 0 0 0 0 0 0 Arts, Entertainment, & Recreation 4 2 0 0 2 0 0 0 Medical/Health Ambulatory Health Care Services 2 2 0 0 0 0 0 2 General Medical and Surgical Hospitals 2 1 0 0 0 0 0 1 Nursing and Residential Care Facilities 6 4 0 0 4 0 0 0 Social Assistance 2 1 0 0 1 0 0 0 Services Personal and Household Goods Repair and Maintenance 5 3 0 0 3 0 0 0 Services to Buildings and Dwellings 10 7 0 0 7 0 0 0 Waste Management and Remediation Services 2 1 0 0 0 0 0 1 Real Estate and Rental and Leasing 1 0 0 0 0 0 0 0 Personal Care Services 5 3 3 0 0 0 0 0 Dry Cleaning and Laundry Services 1 0 0 0 0 0 0 0 Auto Repair and Maintenance 7 5 0 0 0 5 0 0 Veterinary Services 1 1 0 0 0 1 0 0 Photographic Services 0 0 0 0 0 0 0 0 Educational Services 14 8 8 0 0 0 0 0 Accounting 2 1 0 0 0 1 0 0 Architectural, Engineering, and Related 1 0 0 0 0 0 0 0 Specialized Design Services 1 0 0 0 0 0 0 0 Death Care Services 1 1 0 0 0 0 1 0 Legal Services 0 0 0 0 0 0 0 0 Government �2 41 0 0 0 2 36 Total HH Generated Per 1,000 Market -Rate Units 241 148 48 12 27 13 7 41 Total Income -Qualified HH Generated Per 100 Market -Rate Units 4.8 1 3 1 1 4 [1 ] Assumes 1.69 workers per worker household based on the 2010 Census Includes a 12 5 % discount for retail and 1.9 % discount for other industries to account for workers under age 20. (2] Excludes above moderate -income households because these incomes are adequate to acquire market -rate housing Source. Economic & Planning Systems. Inc. e'cmamc&%e gsystems 1n 21,2015 B-1 v.141000s 141134�aimDe n!Wn f N 1134ro.sWo..,od.ic205 f-vs, Table B-2 Household Generation per 1,000 Market Rate Units - E400,000 Unit Palm Desert Housing Impact Fee, EPS #141134 Industry Total Employees HH[1) Very Low Low (60Y)Low(80%) Med Mod Above Mod Retail Unspecified Retail 3 2 0 2 0 0 0 0 Food & Beverage Stores 26 15 0 0 15 0 0 0 Food Services and Drinking Places 91 53 53 0 0 0 0 0 Health and Personal Care Stores 4 2 0 0 0 2 0 0 General Merchandise 7 4 0 4 0 0 0 0 Furniture and Home Furnishings Stores 5 3 0 0 0 3 0 0 Building Material and Garden Equipment and Supplies Dealer 4 2 0 0 0 2 0 0 Electronics and Appliance Stores 11 7 0 7 0 0 0 0 Clothing and Clothing Accessories Stores 7 4 4 0 0 0 0 0 Motor Vehicle and Parts Dealers 10 6 0 0 0 0 6 0 Gasoline Stations 5 3 0 3 0 0 0 0 Sporting Goods. Hobby, and Musical Instrument Stores 7 4 4 0 0 0 0 0 Miscellaneous Store Retailers 8 5 0 5 0 0 0 0 Nonstore Retailers 1 0 0 0 0 0 0 0 Arts, Entertainment, & Recreation 7 4 0 0 4 0 0 0 Medical/Health Ambulatory Health Care Services 4 2 0 0 0 0 0 2 General Medical and Surgical Hospitals 2 2 0 0 0 0 0 2 Nursing and Residential Care Facilities 10 6 0 0 6 0 0 0 Social Assistance 4 3 0 0 3 0 0 0 Services Personal and Household Goods Repair and Maintenance 10 6 0 0 6 0 0 0 Services to Buildings and Dwellings 16 10 0 0 10 0 0 0 Waste Management and Remediation Services 4 2 0 0 0 0 0 2 Real Estate and Rental and Leasing 1 1 0 0 0 1 0 0 Personal Care Services 9 6 6 0 0 0 0 0 Dry Cleaning and Laundry Services 2 1 0 0 1 0 0 0 Auto Repair and Maintenance 12 8 0 0 0 8 0 0 Veterinary Services 2 1 0 0 0 1 0 0 Photographic Services 1 0 0 0 0 0 0 0 Educational Services 27 15 15 0 0 0 0 0 Accounting 3 2 0 0 0 2 0 0 Architectural, Engineering, and Related 1 1 0 0 0 0 0 1 Specialized Design Services 1 1 0 0 0 0 0 1 Death Care Services 2 1 0 0 0 0 1 0 Legal Services 1 1 0 0 0 0 0 1 Government 62 41 0 0 0 2 3 3366 Total HH Generated Per 1,000 Market -Rate Units 369 224 83 20 46 21 10 44 Total Income -Qualified HH Generated Per 100 Market -Rate Units 8 2 5 2 1 4 (1) Assumes 1.69 workers per worker household based on the 201 0 Census. Includes a 12.5 % discount for retail and 1.9 % discount for other industries to account for workers under age 20 (2) Excludes above moderate -income households because these incomes are adequate to acquire market -rate housing Source. Economic & Planning Systems, Inc. F.cv.o & P—N Syetema. Inc VS2015 B-2 P1141000x'.141134PYmDeseMM/ ,f141134fosdemode1020515 U, Table B-3 Household Generation per 1,000 Market Rate Units - $600,000 Unit Palm Desert Housing Impact Fee, EPS #141134 Total Above Industry Employees HH [1] Very Low Low (60%) Low (80%) Med Mod Mod Retail Unspecified Retail 5 3 0 3 0 0 0 0 Food & Beverage Stores 33 19 0 0 19 0 0 0 Food Services and Drinking Places 130 76 76 0 0 0 0 0 Health and Personal Care Stores 5 3 0 0 0 3 0 0 General Merchandise 9 5 0 5 0 0 0 0 Furniture and Home Furnishings Stores 7 4 0 0 0 4 0 0 Building Material and Garden Equipment and Supplies Dealer 5 3 0 0 0 3 0 0 Electronics and Appliance Stares 15 9 0 9 0 0 0 0 Clothing and Clothing Accessories Stores 9 5 5 0 0 0 0 0 Motor Vehicle and Parts Dealers 15 9 0 0 0 0 9 0 Gasoline Stations 6 4 0 4 0 0 0 0 Sporting Goods, Hobby, and Musical Instrument Stores 10 6 6 0 0 0 0 0 Miscellaneous Store Retailers 9 5 0 5 0 0 0 0 Nonstore Retailers 1 1 0 0 0 1 0 0 Arts, Entertainment, & Recreation 16 9 0 0 9 0 0 0 Medical/Health Ambulatory Health Care Services 5 3 0 0 0 0 0 3 General Medical and Surgical Hospitals 3 2 0 0 0 0 0 2 Nursing and Residential Care Facilities 15 10 0 0 10 0 0 0 Social Assistance 8 5 0 0 5 0 0 0 Services Personal and Household Goods Repair and Maintenance 14 9 0 0 9 0 0 0 Services to Buildings and Dwellings 22 14 0 0 14 0 0 0 Waste Management and Remediation Services 4 3 0 0 0 0 0 3 Real Estate and Rental and Leasing 2 1 0 0 0 1 0 0 Personal Care Services 13 9 9 0 0 0 0 0 Dry Cleaning and Laundry Services 2 1 0 0 1 0 0 0 Auto Repair and Maintenance 16 11 0 0 0 11 0 0 Veterinary Services 2 1 0 0 0 1 0 0 Photographic Services 1 1 0 0 1 0 0 0 Educational Services 47 27 27 0 0 0 0 0 Accounting 4 3 0 0 0 3 0 0 Architectural, Engineering, and Related 1 1 0 0 0 0 0 1 Specialized Design Services 1 1 0 0 0 0 0 1 Death Care Services 2 1 0 0 0 0 1 0 Legal Services 1 1 0 0 0 0 0 1 Government ¢2 41 0 0 Q 2 3 36 Total HH Generated Per 1,000 Market -Rate Units 501 304 123 25 68 28 13 47 Total Income -Qualified HH Generated Per 100 Market -Rate Units 12 3 7 3 1 5 [1 ] Assumes 1.69 workers per worker household based on the 2010 Census Includes a 12 5 % discount for retail and 1.9 % discount for other industries to account for workers under age 20. [2] Excludes above moderate -income households because these incomes are adequate to acquire market -rate housing. Source Economic & Planning Systems, Inc. Econom,c&Plan gS1Sm 1m 21S20!5 B_3 P 141000s-14113aP.-O-1lbde/N!134f.sv-e1020515 x(.. Table B-4 Household Generation per 1,000 Market Rate Units - $800,000 Unit Palm Desert Housing Impact Fee, EPS #141134 Industry Total Employees HH [11 Very Low Low (60 % )Low (80%) Med Mod Above Mod Retail Unspecified Retail 4 3 0 3 0 0 0 0 Food 8 Beve rage Stores 31 18 0 0 18 0 0 0 Food Services and Drinking Places 136 79 79 0 0 0 0 0 Health and Personal Care Stores 5 3 0 0 0 3 0 0 General Merchandise 10 6 0 6 0 0 0 0 Furniture and Horn a Furnishings Stores 8 5 0 0 0 5 0 0 Building Material and Garden Equipment and Supplies Dealer 6 3 0 0 0 3 0 0 Electronics and Appliance Stores 16 9 0 9 0 0 0 0 Clothing an d Clothing Accessories Stores 10 6 6 0 0 0 0 0 Motor Vehicle and Parts Dealers 1s 8 0 0 0 0 8 0 Gasoline Stations 5 3 0 3 0 0 0 0 Sporting Goods. Hobby, and Musical Instrument Stores 15 9 9 0 0 0 0 0 Miscellaneous Store Retailers 11 6 0 6 0 0 0 0 Nonstore Retailers 1 1 0 0 0 1 0 0 Arts, Entertainment, 8 Recreation 22 12 0 0 12 0 0 0 M edica ltHea Ith Ambulatory Health Care Services 5 3 0 0 0 0 0 3 General Medical and Surgical Hospitals 3 2 0 0 0 0 0 2 Nursing and Residential Care Facilities 18 12 0 0 12 0 0 0 Social Assistance 12 8 0 0 8 0 0 0 Service s Personal and Household Goods Repair and Maintenance 14 9 0 0 9 0 0 0 Services to Buildings and Dwellings 32 21 0 0 21 0 0 0 Waste Management and Remediation Services 4 3 0 0 0 0 0 3 Real Estate and Rental and Leasing 2 1 0 0 0 1 0 0 Personal Care Services 13 8 8 0 0 0 0 0 Dry Cleaning and Laundry Services 2 1 0 0 1 0 0 0 Auto Repair and Maintenance 16 11 0 0 0 11 0 0 Veterinary Services 2 2 0 0 0 2 0 0 Photographic Services 2 1 0 0 1 0 0 0 Educational Services 83 48 48 0 0 0 0 0 Accounting 5 3 0 0 0 3 0 0 Architectural, Engineering, and Related 1 1 0 0 0 0 0 1 Specialized Design Services 2 1 0 0 0 0 0 1 Death Care Services 2 2 0 0 0 0 2 0 Legal Services 1 1 0 0 0 0 0 1 Government U 41 0 0 0 2 3 36 Total HH Generated Per 1,000 Market -Rate Units 576 348 150 27 82 29 13 47 Total Income -Qualified HH Generated Per 100 Market -Rate Units 15 3 8 3 1 5 (1] Assumes 1.69 workers per worker household based on the 2010 Census. Includes a 12.5% discount for retail and 1 9% discount for other industries to account for workers under age 20 (21 Excludes above moderate -income households because these incomes are adequate to acquire market -rate housing Source. Economic 8 Planning Systems. Inc F,wn c d P1­V Sete Ine 2/S^015 B_4 P 04100OV141134PamDeWe LMOder.1411341asai mWO(020515 visa Table B-5 Household Generation per 1,000 Market Rate Units - $1,000,000 Unit Palm Desert Housing Impact Fee, EPS #141134 Total Industry Employees HH [11 Very Low Low (60 k) Low (80%) Med Mod Above Mod Retail Unspecified Retail 5 3 0 3 0 0 0 0 Food & Beverage Stores 38 22 0 0 22 0 0 0 Food Services and Drinking Places 168 98 98 0 0 0 0 0 Health and Persona! Care Stores 6 3 0 0 0 3 0 0 General Merchandise 12 7 0 7 0 0 0 0 Furniture and Home Furnishings Stores 10 6 0 0 0 6 0 0 Building Material and Garden Equipment and Supplies Dealer 7 4 0 0 0 4 0 0 Electronics and Appliance Stores 19 11 0 11 0 0 0 0 Clothing and Clothing Accessories Stores 12 7 7 0 0 0 0 0 Motor Vehicle and Parts Dealers 18 10 0 0 0 0 10 0 Gasoline Stations 7 4 0 4 0 0 0 0 Sporting Goods, Hobby, and Musical Instrument Stores 18 11 11 0 0 0 0 0 Miscellaneous Store Retailers 13 7 0 7 0 0 0 0 Nonstore Retailers 2 1 0 0 0 1 0 0 Arts, Entertainment, & Recreation 27 15 0 0 15 0 0 0 Medical/Health Ambulatory Health Care Services 6 4 0 0 0 0 0 4 General Medical and Surgical Hospitals 4 3 0 0 0 0 0 3 Nursing and Resident:al Care Facilities 22 14 0 0 14 0 0 0 Social Assistance 15 10 0 0 10 0 0 0 Services Personal and Household Goods Repair and Maintenance 18 11 0 0 11 0 0 0 Services to Builcings and Dwellings 40 26 0 0 26 0 0 0 Waste Management and Remediation Services 5 3 0 0 0 0 0 3 Real Estate and Rental and Leasing 2 1 0 0 0 1 0 0 Personal Care Services 16 10 10 0 0 0 0 0 Dry Cleaning and Laundry Services 3 2 0 0 2 0 0 0 Auto Repair and Maintenance 20 13 0 0 0 13 0 0 Vetennary Services 3 2 0 0 0 2 0 0 Photographic Services 2 2 0 0 2 0 0 0 Educational Services 103 60 60 0 0 0 0 0 Accounting 6 4 0 0 0 4 0 0 Architectural, Engineering, and Related 2 1 0 0 0 0 0 1 Specialized Design Services 2 1 0 0 0 0 0 1 Death Care Services 3 2 0 0 0 0 2 0 Legal Services 2 1 0 0 0 0 0 1 Government 62 41 0 0 0 2 3 36 Total HH Generated Per 1,000 Market -Rate Units 698 421 186 33 102 36 15 50 Total Income -Qualified HH Generated Per 100 Markel -Rate Units 19 3 10 4 2 5 (1 1 Assumes 1.69 workers per worker household based on the 2010 Census. Includes a 12.5 % discount for retail and 1.9 % discount for other industries to account for workers under age 20 (2] Excludes above moderate -income households because these incomes are adequate to acquire market -rate housing. Source Economic & Plannng Systems, Inc E::--:aor:,,, ,vsnn.,.,.. r„, J'S 015 B-5 ar000rurruvasn�e.nxmnr.rarrw�.. �nacxsrs,rs. Table B-6 Household Generation per 1,000 Market Rate Units - $1,200,000 Unit Palm Desert Housing Impact Fee, EPS 9141134 Total Industry Employees HH [11 Very Low Low (60%) Low (80%) Med Mod Above Mod Retail Unspecified Retail 7 4 0 4 0 0 0 0 Food & Beverage Stores 45 26 0 0 26 0 0 0 Food Services and Drinking Places 201 117 117 0 0 0 0 0 Health and Personal Care Stores 7 4 0 0 0 4 0 0 General Merchandise 15 8 0 8 0 0 0 0 Furniture and Home Furnishings Stores 12 7 0 0 0 7 0 0 Building Material and Garden Equipment and Supplies Dealer 8 5 0 0 0 5 0 0 Electronics and Appliance Stones 23 13 0 13 0 0 0 0 Clothing and Clothing Accessories Stores 14 8 8 0 0 0 0 0 Motor Vehicle and Parts Dealers 22 12 0 0 0 0 12 0 Gasoline Stations 8 5 0 5 0 0 0 0 Sporting Goods, Hobby, and Musical Instrument Stores 22 13 13 0 0 0 0 0 Miscellaneous Store Retailers 15 9 0 9 0 0 0 0 Nonstore Retailers 2 1 0 0 0 1 0 0 Arts, Entertainment, 3 Recreation 32 18 0 0 18 0 0 0 Medical/Health Ambulatory Health Care Services 7 5 0 0 0 0 0 5 General Medical and Surgical Hospitals 5 3 0 0 0 0 0 3 Nursing and Residential Care Facilities 27 17 0 0 17 0 0 0 Social Assistance 18 12 0 0 12 0 0 0 Services Personal and Household Goods Repair and Maintenance 21 14 0 0 14 0 0 0 Services to Buildings and Dwellings 47 31 0 0 31 0 0 0 Waste Management and Remediation Services 6 4 0 0 0 0 0 4 Real Estate and Rental and Leasing 2 2 0 0 0 2 0 0 Personal Care Services 19 12 12 0 0 0 0 0 Dry Cleaning and Laundry Services 3 2 0 0 2 0 0 0 Auto Repair and Maintenance 24 16 0 0 0 16 0 0 Veterinary Services 4 2 0 0 0 2 0 0 Photographic Services 3 2 0 0 2 0 0 0 Educational Services 124 71 71 0 0 0 0 0 Accounting 7 4 0 0 0 4 0 0 Architectural, Engineering, and Related 2 1 0 0 0 0 0 1 Specialized Design Services 2 1 0 0 0 0 0 1 Death Care Services 4 2 0 0 0 0 2 0 Legal Services 2 3 0 0 0 0 0 3 Government 62 41 0 0 0 2 3 36 Total HH Generated Per 1,000 Market -Rate Units 821 496 222 39 122 43 18 54 Total Income -Qualified HH Generated Per 100 Market -Rate Units 22 4 12 4 2 5 [11 Assumes 1.69 workers per worker household based on the 2010 Census. Includes a 12 5 % discount for retail and 1.9 % discount for other indusine: to account for workers under age 20. (21 Excludes above moderate -income households because these incomes are adequate to acquire market -rate housing. Source Economic & Planrtng Systems. Inc Er.-6P6i SysI- 1n 2/5,2015 B-6 P II1000a.lIf1JlPnlnbsffrn•M,w'W f�ffy,fp�yy,n.Hlw0i05f5+Is. MIBIT "C" MEMORANDUM To: Lauri Aylaian, City of Palm Desert From: Darin Smith and Martin Romo Date: March 18, 2015 Subject: Implementation Considerations for Palm Desert Affordable Housing Impact Fees; EPS # 141134 Economic & Planning Systems, Inc. (EPS) has been retained by the City of Palm Desert to prepare nexus studies demonstrating the impact that new market -rate housing production has on demand for affordable �.` housing. The nexus studies have been provided under separate cover to the City. This memorandum is intended to document some of the issues the City may wish to consider in adopting a nexus -based impact fee on new residential development. Summary of Findings This analysis has led EPS to the following findings: 1. Nexus -based affordable housing impact fees are uncommon in the competitive market area surrounding Palm Desert. None of the other cities in the Coachella Valley has a City-wide impact fee program or even more traditional inclusionary zoning program to address affordable housing needs. Only Palm Springs has any such program at all —a fee that it applies only in a section of the City. Similarly, affordable housing impact fees and inclusionary zoning are uncommon throughout most of Riverside and San Bernardino Counties. California jurisdictions that have adopted nexus -based impact fees to date tend to be coastal cities or those in significantly more costly housing markets, like the Bay Area. 2. The maximum impact fees calculated in the nexus studies ..,._ would represent a significant financial burden on new O^cr.as Plaza, sw:, '4!0 housing construction. The maximum fees equate to $10 or greater per square foot of housing development, while market -rate prices for 9C ter most homes in Palm Desert have been roughly $217 per square foot. Thus, the maximum fees represent about 5 percent or more of value c'k^d for most units in the City —a cost burden that likely would either drive land values significantly downward or reduce developers' interest and ability to finance and sell new housing in Palm Desert. www.epsys.com Memorandum March 18, 2015 Palm Desert Affordable Housing Fee Considerations Page 2 3. A fee between $2.00 and $4.00 per square foot would be more feasible in Palm Desert. Fees at this level would represent a smaller impact on overall housing development costs and a smaller reduction of land values and/or developer profit margins. Many other jurisdictions have adopted fees well below the maximum levels calculated in the nexus studies, and Palm Desert could take a similar approach. 4. Palm Desert could adopt a fee that varies according to the size of the new housing unit. The affordable housing impact fees adopted in Sonoma County and Santa Rosa in recent years are scaled to have a lower impact on smaller, less expensive units, and a higher but still nexus -supported fee level for larger, more expensive units. Of the 13 jurisdictions whose affordable housing impact fees EPS has reviewed for this assignment, Palm Desert's housing market is most like those in Sonoma County and Santa Rosa (many modestly priced homes but some luxury development as well), and Palm Desert may consider a graduated fee schedule similar to those in Sonoma County and Santa Rosa. EPS believes that a fee set at roughly 1 percent of unit value —which varies by unit size —would represent a marginal change to local development economics and would not be disruptive to development activity. Survey of Other Jurisdictions In February 2015, EPS contacted each of the nine cities in the Coachella Valley to discuss their current practices requiring new housing development to either provide income -restricted affordable units within otherwise market -rate developments (traditional "inclusionary zoning") or to pay either a fee in -lieu of inclusionary units or an impact fee based on a nexus study such as that EPS has prepared for Palm Desert. None of the other jurisdictions currently has such requirements Citywide. Only Palm Springs has any such program, whereby new housing developments in the South Palm Canyon section of the City are required to pay a fee of $3,120 per unit that is then used to augment affordable housing subsidies in the City. EPS also contacted several major jurisdictions elsewhere in Riverside and San Bernardino Counties and found similar results —no standard practice of requiring affordable housing units or fees from market -rate development. The results of this regional survey are shown on Table 1. P: U 41000s U 4l l34PalTDesert�ReOoa 1141134_ /easmemo_ 031815. do Memorandum Palm Desert Affordable Housing Fee Considerations Table 1 Affordable Housing Impact Fees in Region March 18, 2015 Page 3 Jurisdiction Fee Level Riverside County Coachella Valley Cathedral City No Affordable/Inclusionary Housing Fee Listed on Fee Schedule Coachella No Affordable/Inclusionary Housing Fee Listed on Fee Schedule Desert Hot Springs No Affordable/Inclusionary Housing Fee Listed on Fee Schedule Indian Wells No Affordable/Inclusionary Housing Fee Listed on Fee Schedule Indio No Affordable/Inclusionary Housing Fee Listed on Fee Schedule La Quinta No Affordable/Inclusionary Housing Fee Listed on Fee Schedule Palm Desert No Affordable/Inclusionary Housing Fee Listed on Fee Schedule Palm Springs Single Family homes built in the South Palm Canyon pay $3,120/unit. Rancho Mirage No Affordable/Inclusionary Housing Fee Listed on Fee Schedule Other Cities in County Riverside No Affordable/Inclusionary Housing Fee Listed on Fee Schedule Moreno Valley No Affordable/Inclusionary Housing Fee Listed on Fee Schedule Perris No Affordable/Inclusionary Housing Fee Listed on Fee Schedule San Bernardino County San Bernardino No Affordable/Inclusionary Housing Fee Listed on Fee Schedule Ontario No Affordable/Inclusionary Housing Fee Listed on Fee Schedule Rancho Cucamonga No Affordable/Inclusionary Housing Fee Listed on Fee Schedule Fontana No Affordable/Inclusionary Housing Fee Listed on Fee Schedule Sources City website and staff: EPS However, there are a number of California jurisdictions in which affordable housing impact fees have been adopted in recent years. As shown on Table 2, these jurisdictions tend to be in higher -priced markets such as coastal cities or in the San Francisco Bay Area. Inclusionary zoning has been even more prevalent throughout California, with some 150 jurisdictions requiring affordable units or in -lieu payments in a poll conducted in 2009.1 1 http://www.calruralhousing.orq/#!inclusionary-housing-database/clhn6 P:�141000s1141134PalinDesertlRepor[1141134, /easmemo. 031815.docx Memorandum March 18, 2015 Palm Desert Affordable Housing Fee Considerations Page 4 Table 2 Summary of Nexus -Based Affordable Impact Fees in California Cities City Amount (/SF) Avg. Home Price' Santa Rosa $1.00 - $6.55 $450,800 Sonoma County $2.16 - $7.45 $492,500 San Carlos $2.38 - $28.57 $1,354,200 Cupertino2 $3.00 $1,613,600 West Hollywood $11.97 - $25.67 $663,500 Walnut Creek $15.00 $715,900 Mountain View $17.00 $1,181,500 San Jose $17.00 $744,100 Fremont $19.50 $752,300 Carlsbad $20.00 $699,800 Solana Beach $25.28 $1,109,900 Berkeley $28.00 $869,900 Santa Monica $29.79 $1,139,300 Palm Desert TBD $329, 800 (1) Data from Zillow.com, 2/27/15 (2) A nexus study is in progress to update fee. (3) This figure represents the City's current in -lieu fee; a nexus - based impact fee is being studied for adoption. Source: City websites and Staff; EPS This survey reveals that Palm Desert would be unique in its competitive housing market area in requiring affordable housing payments from market -rate development. It also reveals that, in general, the level of the adopted impact fee is much higher in places with high housing costs than in places with lower home values. Palm Desert's recent average housing prices have been lower than any of those other jurisdictions that have implemented nexus -based impact fees. Feasibility Considerations The creation of a new fee of any sort is appropriately viewed against the prevailing market conditions and development cost structure to determine whether such a fee can be absorbed by development without having deleterious effects. If the fee is too high, the overall cost of construction increases without necessarily having a positive impact on home sales prices or rent rates. When costs increase but values stay constant, the result may be some combination of reduced land values for landowners and/or reduced profit margins for developers. In either case, the profit incentive to develop new market -rate housing may be diminished, and the overall production of such housing can decrease. Below, EPS has evaluated the impact that impact fees at various levels may have on overall development feasibility. P:\1410005\141134Pd1mDesert\Repoli"141134_/easmemo 031815.docr Memorandum Palm Desert Affordable Housing Fee Considerations Maximum Nexus Based Fees March 18, 2015 Page 5 EPS's nexus studies have calculated the maximum fee levels associated with for -sale homes at various prices and rental units of various types (1 BR, 2 BR, etc.). Some jurisdictions apply the impact fees as a percentage of unit price or value, while others convert the fees to an amount per square foot for more consistency with their practices regarding other fees (such as for parks or transportation). Because EPS's maximum fees were based on unit pricing directly rather than assumptions regarding unit square footages, it is appropriate to translate those maximum fees into fees per square foot for easier comparison to some other jurisdictions. EPS has reviewed the pricing of 132 newer homes (built after 1999) that have been sold in Palm Desert between August 2014 and February 2015. The data demonstrate that home prices have averaged $217 per square foot, but that the larger the units, the higher the average price per square foot. $600 $500 $400 $300 $200 $100 Average Home Price/SF for Palm Desert Units Built after 1999 and Sold Aug. 2014-Feb. 2015 Source: Redfin.com $217 $169 $545 $179 $187 $192 $256 _ ■ Avg $/SF i Similarly, the data show that the average newer unit sold in Palm Desert was 2,263 square feet, but that the lowest priced units averaged 1,452 square feet and the most expensive averaged nearly 4,000 square feet. 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 Average Home SF by Price Range for Palm Desert Units Built after 1999 and Sold Aug. 2014-Feb. 2015 Source: Redfin.com 21263 1,452 2,287 2,784 All Units $100-300K $300-500K $500-700K $700-900K 5900K+ P. `,141000sV 41134PalorDesea�Report� 141134- feasmemo- 031 R 15. oocr Memorandum Palm Desert Affordable Housing Fee Considerations March 18, 2015 Page 6 Using these data representing pricing and sizes of Palm Desert's newer housing stock, EPS has estimated the typical sale value for various sizes of units, and the maximum nexus -based fee that would correspond to those unit sizes. Table 3 demonstrates that the maximum fees would range from $9.24 to $12.38 per square foot for for -sale units. Table 3 Maximum For -Sale Housing Impact Fees per Square Foot Market -Rate Maximum Assumed Max Fee Unit Price Impact Fee Sq. Ft. [1] per Sq. Ft $200,000 $13,406 1,452 $9.24 $400,000 $22,950 2,287 $10.03 $600,000 $33,182 2,784 $11.92 $800,000 $39,551 3,208 $12.33 $1,000,000+ $48,945 3,952 $12.38 [1] Square footages based on recent home sales in Palm Desert Sources: Redfin.com; Economic & Planning Systems, Inc. For rental units, the maximum rental fees per square foot are even slightly higher, ranging from $13.59 to over $20. Table 4 shows these calculations based on prevailing unit sizes for market - rate apartments in several Palm Desert properties. Table 4 Maximum Rental Housing Impact Fees per Square Foot Market -Rate Maximum Assumed Max. Fee Unit Size Impact Fee Sq. Ft. [1] per Sq. Ft. Studio $12,123 600 $20.21 1 Bedroom $14,650 805 $18.20 2 Bedroom $15,772 1,161 $13.59 3 Bedroom $20,969 1,501 $13.97 [1] Based on average unitsizes in Palm Desert apartments including: The Vineyards, Canterra, Mirabella, Ariana, The Regent, and The Enclave Source: Economic & Planning Systems, Inc. Applying these maximum fee levels to potential housing prototypes suggests that development feasibility would be significantly and negatively affected. As one measure of such impacts, EPS has estimated the reduction in land value that would occur at these fee levels. As another measure, EPS has compared the new affordable housing impact fees to the existing fee burden for new development in Palm Desert. These comparisons are shown on Table S. P-k141000.sk14ll34PalmDesertlReponkl41134 /ea.smemo 031815do Memorandum March 18, 2015 Palm Desert Affordable Housing Fee Considerations Page 7 Table 5 Feasibility Impact of Maximum Fee Levels Housing Prototypes Item Low -Density Single Family Moderate Density Single Family Multifamily Development Program Assumptions Total Units 35 60 260 Total Acres 10 10 13 Density/Acre 3.5 6.0 20.0 Average Gross Unit Size 2,500 2,500 1,200 Average Net Unit Size 2,500 2,500 1,000 Land Values Land/Acre [1] $200,000 $200,000 $200,000 Total Land Cost $2,000,000 $2,000,000 $2,600,000 Other Development Fees Fees/Unit [2] $39,038 $36,686 $6,069 Total Fee Expense $1,366,330 $2,201,160 $1,577.940 Potential Affordable Housing Impact Fees Assumed Fee Level per Sq. Ft. [3] $10.03 $10.03 $13.59 Total Fee Expense $877,893 $1,504,960 $3,532,834 as % of Land Value 44% 75% 136% as % of Other Fees 64% 68% 224% per a December 2014 appraisal provided to the [2] Fees/Unit for single-family projects are based on a November2014 surveybythe Desert Valley Builders Association. Fees/ multifam ily unit are based on an accounting of actual fees paid bythe most recent project in Palm Desert. [3] Assumed housing fee based on maxmum fee for unitsizes most comparable to those assumed forthis analysis. Sources: DVBA; City of Palm Desert; EPS As demonstrated, affordable housing impact fees set at the maximum nexus -supported levels would have a significant effect on development economics. For example, assuming that a low - density single-family project of 35 units paid fees at $10.03 per square foot and that market -rate home prices would not increase to absorb that added cost, the amount the developer could pay for land would be reduced by an estimated 44 percent. Many landowners would likely resist selling their property at this steep discount compared to currently achievable prices, and developers and investors would likely seek opportunities in areas with higher potential profit margins, so overall housing production in the City may diminish. Similarly, the new housing impact fee would increase overall fees paid by the development by roughly 64 percent —certainly not a marginal or negligible increase compared to current fee levels. The impacts are most dramatic for multifamily development, where the maximum fee would effectively eliminate all land value for that product type and the total fee burden would more than triple from current circumstances. P:\141OOOsW41134P4/mDescrt�Repott\141134. fe—nemo 031615.Oocx Memorandum Palm Desert Affordable Housing Fee Considerations March 18, 2015 Page 8 EPS concludes that the maximum fee levels calculated in the nexus study would represent an infeasible outcome for new housing development in Palm Desert. Other Potential Fee Levels The maximum fees calculated in the nexus studies represent the upper limit that the City could charge to new housing development. However, in many communities, the fees adopted have represented only a fraction of the maximum nexus -based fees. Given that Palm Desert is situated among many communities that charge no such fees and that housing and land values are more modest than those found in other California cities that have adopted fees, it is appropriate to consider lower levels of fees for adoption. Table 6 follows the same format as Table 5, but presumes lower fee levels that the City might consider. As shown, the fees' impact varies by product type, such that a $2.50 fee on single family homes would have a less negative impact than a fee on multifamily at $2.00 per square foot. Also, fees much above these levels appear to have a significant impact on key feasibility metrics, such as residual land value. Based on this feasibility analysis, EPS believes it would be prudent for the City of Palm Desert to adopt a modest affordable housing impact fee of only a few dollars per square foot for most new residential development. However, it is noteworthy that Palm Desert does have a luxury housing market in which prices per square foot can be more than double those of the general housing stock. These units tend to be much larger, and are shown in the nexus study to create a greater impact on affordable housing demand and subsidy requirements. As such, it may be appropriate for the City to create a scaled fee schedule that requires lower fees for smaller, less expensive units, and higher fees per square foot for larger, more expensive units. As shown on Table 2, the City of Santa Rosa and the County of Sonoma have such graduated fee schedules, requiring as little as $1.00 per square foot for units around 1,000 square feet (with total exemptions for still -smaller units), and up to $7.00 or so for the largest, luxury units. EPS believes such a schedule may be appropriate for Palm Desert, with the top end being roughly $5.50 per square foot - roughly 1 percent of the home values for large luxury units, and just under half of the maximum supportable fees calculated in the nexus studies. Indeed, a fee for all home sizes and prices set around 1 percent of unit value may be worth considering, as this fee level is indeed marginal to overall home values and should not materially disrupt development activity in Palm Desert. P.kl41000s114ll34P41mDesert�Report1141134Jeasrnerno 031815.docx Memorandum March 18, 2015 Palm Desert Affordable Housing Fee Considerations Page 9 Table 6 Feasibility Impact of Alternative Fee Levels Housing Prototypes Low -Density Moderate Density Item Single Family Single Family Multifamily Development Program Assumptions Total Units 35 60 260 Total Acres 10 10 13 Density/Acre 3.5 6.0 20.0 Average Gross Unit Size 2,500 2,500 1,200 Average Net Unit Size 2,500 2,500 1,000 Land Values Land/Acre [1] $200,000 $200,000 $200,000 Total Land Cost 52,000,000 $2.000,000 $2,600,000 Other Development Fees Fees/Unit [2] $39,038 $36,686 $6,069 Total Fee Expense $1,366,330 $2,201,160 $1,577,940 Potential Affordable Housing Impact Fees Assumed Fee Level per Sq. Ft. $2.50 $2.50 $2.00 Total Fee Expense $218,750 $375,000 5520,000 as % of Land Value 11 % 190/0 20% as % of Other Fees 16% 17% 33% Assumed Fee Level per Sq. Ft. $4.00 $4.00 $3.00 Total Fee Expense $350,000 $600,000 $780,000 as % of Land Value 18010 30% 30% as % of Other Fees 26% 27% 49% j1 ] Expected price for developable residential land, per a December 2014 appraisal provided to the City of Palm Desert. [2] Fees/Unit for sing le-familyprojects are based on a November2014 survey by the Des ertVaIley Builders Association. Fees/multifamily unit are based on an accounting of actual fees paid by the most recent project in Palm Desert. Sources: DVBA; City of Palm Desert; EPS P-1141000s'',141134Palm Desert\Repon%141134_ f—memo_ 031815. docx ESTIMATE OF COSTS FOR THE CITY OF PALM DESERT AFFORDABLE HOUSING PROGRAM AS APPROVED IN HOUSING ELEMENT ADOPTED FOR 2014 — 2021 City of Palm Desert — Affordable Housing Impact Fee This estimate is prepared in anticipation of the Palm Desert City Council's consideration of adopting an affordable housing impact fee for new residential development. It is a quantification of the costs that the City of Palm Desert will incur during the next twenty years (2015 — 2035) implementing the goals, policies, and programs identified in the Housing Element of the City of Palm Desert Comprehensive General Plan. In order to systematically approach this estimate, each goal, policy, and procedure has been addressed independently in the order in which it appears in the Housing Element. A total is provided at the end of the estimate, as is an accounting of the other monies that the City has available to apply to the same needs The new information, including the estimate of cost, is provided in bold italic font, the remainder of the text comes directly from the Housing Element. Note that, since the time that the Housing Element was adopted, the City of Palm Desert Redevelopment Agency was dismantled according to State directive. Ownership of assets and allocation of funds and obligations have changed as a result. To simplify "tatters for this estimate, the term "City" is used generically to encompass the City of Palm Desert, the Successor Agency to the Palm Desert Redevelopment Agency, and the City of Palm Desert Housing Authority. And, finally, it is anticipated that the city will be "built out, "meaning that 95% or more of all vacant residential parcels will have been developed, in twenty years. Therefore, no revenue front the proposed fee is anticipated after the end of the build out period, and no costs expected past that same time window are included in the cost estimates provided below. GOALS, POLICIES AND PROGRAMS Goal 1 A variety of housing types that meet all of the housing needs for all income groups within the City. No hard (capital) costs assignable to this goal. Goal 2 The preservation and maintenance of the high quality of the City's affordable housing supply. No hard costs assignable to this goal. Affordable Housing Estimate of Costs - 4/13/2015 Page 1 Policy 1 New affordable housing projects shall be encouraged in all areas of the City. Special attention will be made to distributing the units so that large concentrations of affordable housing in any one area are avoided. No hard costs assignable to this policy. Program LA The Agency shall implement the following affordable housing projects for extremely low, very low, low and moderate income households during the planning period: • 31 units at Canterra Phase II • 21 units at Emerald Brook • 200 units at Dinah Shore and Portola • 72 units at Carlos Ortega Villas • 16 units at Sagecrest Apartments Carlos Ortega Villas are currently under construction, and the cost of that project is already secured from fund sources independent of the proposed fee. The Sagecrest Apartments and the units at Dinah Shore and Portola will be built on land that the City currently owns, either itself or through its housing authority. No firm decision has been made as to whether the City will construct and operate these units itself, or will select a private developer to build the apartments and manage them thereafter. Experience with developing affordable housing projects in the past indicates that private developers can produce multi family housing projects at a lower cost per unit than tali the City. Therefore, for the sake of determining the cost of the programs and policies of the currently adopted Housing Element, the most conservative estimate of cost will be as if the City contributes the land to a private (either for profit or not -for -profit) developer, who builds the housing and records affordability covenants on the units. According to the Table 2 on Page 8 of the Nexus -Based Affordable Housing Fee Analysis for Rental Housing, by Economic & Planning Systems dated 2 April 2015, the financing gap for private -sector development of two-story multi family apartments with surface parking is: Very Low Income $163,873 including land $153,873 w/o land Low Income $134,036 including land $124,036 w/o land Low Income $117,968 including land $107,968 w/o land This means that the City needs to assist a private developer in the amount of $117,968 (minimum) per unit to provide affordable multi family housing on land that the developer owns, or $107,968 (minimum) per unit if the City also provides the land. Affordable Housing Estimate of Costs - 4/13/2015 Page 2 Consequently, the minimum cost of Program LA for Sagecrest Apartments and the City - owned land at Dinah Shore and Portola is: Dinah Shore and Portola: $107,968 X 200 units = $21,593,600 SagecrestApartments: $107,968 X 16 units = $1,727,488 And the cost for Program LA at Phase If of Canterra and for Emerald Brooks is: Canterra, Phase II. - Emerald Brooks: TOTAL COST FOR PROGRAM LA: Program 1.13 by developer — no added cost to City $117,968 X 21 units = $2,477,328 $ 25, 798,416 The Agency shall pursue the planning and implementation of the following projects for extremely low, very low, low and moderate income households during the planning period: • 520 units that will include single family for -sale and multi -family for rent units at Gerald Ford Drive and Portola • an additional 51 units at the Vineyards The cost per dwelling unit of providing single family homes is greater than: for multi family homes. Therefore, to be conservative, the cost estimate of Program I.B will assume that all dwelling units are multi family units. Similarly, the conservative assumption is made that 50% of the units are for low income households, while 50% are for moderate income households. To include very low and extremely low income households would significantly increase the estimated cost of this program. According to the Nexus -Based Affordable Housing Fee Analysis for Rental Housing, Table 2 on Page 8, by Economic & Planning Systems dated 2 April 2015, the financing gap for private -sector development of two-story multi fancily apartments with surface parking is: Moderate Income no financinggap Low Income $117,968 including land $107,968 w/o land This means that the City needs to assist a private developer in the amount of $117,968 (minimum) per unit to provide affordable multi family housing on land that the developer owns, or $107,968 (minimum) per unit if the City also provides the land. In the case of moderate income households, a private developer can produce affordable housing without any financial assistance from the City or from other third parties. Affordable Housing Estimate of Costs - 4/13/2015 Page 3 Consequently, the cost of Program LB for the 520 units at Gerald Ford and Portola, the Successor Agency to the Palm Desert Redevelopment Agency owns the land, and half of the units (for moderate income households) would need no financial assistance. Therefore, the cost estimate for Program 1.B is: 260 units at Gerald Ford and Portola Vineyards Apartm eats: TOTAL COST FOR PROGRAM]. B: Program 1.0 $107,968 X 260 units = $28,071,680 $117,968 X 51 units = $ 6,016,368 $ 34, 088, 048 The City shall encourage and facilitate the development by private parties of the following projects for extremely low, very low, low and moderate income units: • 432 units at Key Largo • 194 units at Frank Sinatra and Cook Street • Approximately 302 units at Dinah Shore and 35t' Avenue (southeast corner) • 52 units at Frank Sinatra and Cook Street ("The Vineyards" / northwest corner) The City shall annually contact the owners/developers of these lands and review with them the City and Agency incentives, and financing options available through the Redevelopment Agency, State and federal loan and grant programs, and local non-profit agencies to assure that all potential financial mechanisms are being considered for the project(s). There are no quantifiable hard costs associated with this program. The assumption is made here that the "City and Agency incentives" mentioned in this program do not include providing grants or subsidizing the development. Program 1.D The Agency shall continue to implement the Self Help Housing program, and shall identify 15 households to be assisted by the program in this planning period. The City already owns the properties on which these homes will be constructed. No new hard costs are assignable to this program. Program 1.E The City shall maintain its inventory of sites zoned for PR-7 and R-3, and shall encourage the incorporation of extremely low, very low, low and moderate income housing units into these projects as they are brought forward. No hard costs assignable to this program. Affordable blousing Estimate of Costs - 4/ 13/2015 Page 4 Program 1.F In order to assure that sufficient lands are available for affordable housing projects described in Programs LA and 1.13, the City shall undertake or shall process private party Changes of Zone on the following parcels to provide zoning that is consistent with the General Plan and supportive of residential uses. Where necessary, General Plan amendments will also be undertaken: • The east side of Monterey, at the western City limits • 20 acres of land at the southeast corner of Gerald Ford and Portola • 10 acres of land at the northeast corner of Dinah Shore and Portola • 19.6 acres of land at the southwest corner of University Park Drive and Cook • 34 acres of land at the southwest corner of 35t' Avenue and Dinah Shore 19 acres of land at the southeast corner of 35`h Avenue and Dinah Shore • The south side of Fred Waring Drive on the east side of San Pablo Avenue and on the west side of San Pablo north of Santa Rosa. This work has been completed; no estimated costs to the City remain. Program 1.G The City will encourage further land divisions resulting in parcel sizes that facilitate multifamily development affordable to lower income households in light of state, federal and local financing programs (i.e. 50-100 units) as development proposals are brought forward. The City will also, as part of the rezoning process or other outreach by 2012, meet with property owners to discuss incentives available for land divisions (e.g., 2-5 acres) encouraging the development of housing affordable to lower income households. The City will offer incentives for land division encouraging the development of affordable housing including, but not limited to: priority to processing subdivision maps that include affordable housing units, expedited review for the subdivision of larger sites into buildable lots where the development application can be found consistent with the Specific Plan, financial assistance (based on availability of federal, state, local foundations, and private housing funds). This work has been ongoing; there are no estimated hard costs to the City. It is assumed that other agencies (.state, federal, private foundations, etc.) will provide the financial assistance. Program 1.H Properties described in Program 1.F will be designated R-3 pursuant to Government Code Section 65583.2 (h) and (i) and permit a minimum of 16 units per site at a minimum density of 20 units per acre. At least 50% of the need will be accommodated on sites allowing exclusively residential uses by right. The City's zoning standards currently permit multifamily uses without a CUP or other discretionary permit. This work has been completed, no estimated costs to the City remain. Affordable Housing Estimate of Costs - 4/13/2015 Page 5 Policy 2 The City shall encourage the rehabilitation of existing housing units through a variety of programs. This work is ongoing and has no estimated hard costs associated with it. Program 2.A The Agency shall annually fund an Acquisition, Rehabilitation, and Resale Program for 10 blighted homes each year. This program buys, rehabilitates, and resells homes for the amount of investment in the homes that the City has. The net cost to the City is only the amount of subsidy that is provided to the buyer, which is typically $75,000 to $100,000 per home. Therefore, the conservative cost estimate for the program for twentyyears would be: (10 homes) X ($75,000 subsidy per home) X (20 years) = $15,000,000 However, it is unlikely that the City could ever acquire, rehabilitate, and resell this many homes for this long of a period. A more conservative assumption would be that five homes per year could be rehabilitated if funding were available. Therefore, the cost estimate used for this calculation will be: (5 homes) X ($75,000 subsidy per home) X (20 years) = $7,500,000 Program 2.B The Agency shall annually fund the Single Family Rehabilitation Program and Housing Improvement Program, for 20 households each year. Historically, this program: has been funded at $250,000 per year. However, it is unusual for the total amount to be spent due to low application rates and staffing limitations. With an adequate funding stream, this program: would likely cost the following amount over a twenty year period. (10 homes) X ($15,000 per home) X (20 years) = $3,000,000 Program 2.0 The Agency shall pursue and utilize Neighborhood Stabilization Program (NSP) funding to the greatest extent possible, and shall use that funding to assist homeowners in the purchase and rehabilitation of blighted single family homes for up to four homes per NSP funding cycle. The Neighborhood Stabilization Program: is accomplished with grant funding. No hard costs are incurred by the City. Affordable Housing Estimate of Costs - 4/13/2015 Page 6 Policy3 The City shall preserve existing affordable housing units. The preservation of existing affordable housing is accomplished by buying extensions for affordability covenants that are set to expire. The attached spreadsheet entitled "Developer Projects" shows the affordable housing in the city, the number of units in each, the level of subsidy, and the dates on which the affordability covenants expire. If no action is taken within the twenty-year period during which build -out of the city is anticipated, 181 affordable units will have lost their affordability restrictions. The cost of extending the affordability restrictions is calculated by summing for all of the units: (# of months between the expiration date and the end of the twenty-year period) X (monthly subsidy needed for that particular unit). The amount of subsidy needed varies depending on the income of the individual or family occupying the unit. In order to estimate the cost of extending the covenants on these 120 units, recent income and market rental rates have been used for typical residents in the City's affordable housing program. Specifically, the data used is: Average Monthly Market Rate Income Level Subsidized Subsidy for 2-Bdr Unit Rent Needed Extremely Low 987 298 689 Very Low 987 552 435 Low 987 937 50 Moderate 987 987 -0- From this information, the cost to the City of Policy 3 is estimated to be as follows: Shadow Hills Estates —16 units for 240 months @ moderate income: No cost The Regent Palm Desert —103 units for 228 months @ low income: 51,174,200 Santa Rosa Way Property —1 unit for 240 months glow income: S 12,000 Canterra Phase I — 61 units for 20 months @ low income: S 61,000 TOTAL 51,247,200 Program 3.A The Agency shall continue to subsidize existing affordable housing units in the City, including apartment units it owns now and in the future. The City strives to offset the cost of this subsidy by the revenue generated by operation of the City -owned units. Therefore, no new hard costs are anticipated to be paid for by the proposed fee. Affordable Housing Estimate of Costs - 4/13/2015 Page 7 Program IB The Agency shall maintain the existing resale restrictions and other subsidies on its 303 ownership units. There is no direct hard cost to the Cityfor this program. Program IC The Agency shall maintain ownership of its 1,111 existing rental housing units in order to assure long term affordability for these projects. The City's affordable rental units are generally operated such that the expenses are offset by rental revenue. Therefore, no direct hard costs to the Cityfor this program are included in the cost estimate. Program ID The Agency shall continue its program of acquiring market rate apartment projects for rehabilitation and conversion to affordable units, with the goal of converting 350 through the planning period. Efforts shall be focused on blighted properties in Palma Village, Redevelopment Project Area 4, and south of Highway 111 between Portola Avenue and Deep Canyon Road. In past years, the City has purchased blighted multi family housing properties and rehabilitated the units in order to provide decent, safe, and sanitary affordable housing stock. The cost of these projects varies widely based upon the acquisition: costs and the degree of blight present. Because of the dissolution of redevelopment, it is unlikely that they City would be able to accomplish this goal during the planning period (2014 — 2021 for the Housing Element), regardless of the adoption of an affordable housing impact fee. However, if funding is available, it is not unreasonable to believe that the goal could be net during the twenty-year build nut period for which this fee is contemplated. To estimate this cost, two assumptions are made: that the City would select a private developer to do the work if doing so would be more cost effective than having the City do it, and that such a rehabilitation project would only be undertakes: if it were less expensive than demolishing the blighted units and building anew. According to the Nexus -Based Affordable Housing Fee Analysis for Rental Housing cited above under Program LA, the cost of constructing new multi family affordable housing units, including land and assuming 4% tax credits are available, is $187,600 per unit. As noted above, the renovation would only be done if doing so is less expensive than building anew, so the conservative assumption is made that the renovation costs would be 60% of new construction. Thus, the estimated cost for this program is: (350 units) X ($187,600 per unit) X (60%) = $39,396,000 Affordable Housing Estimate of Costs - 4/13/2015 Page 8 Program IE The City shall encourage the preservation of existing mobile home parks by non-profit agencies or organizations, in order to preserve their affordability. The City will directly contact CVHC, DACE and others should a mobile home park be put up for sale, and assist through permit streamlining in its sale, if possible. There is no direct hard cost to the Cityfor this program. Program IF The Agency shall coordinate between affordable housing developers and social service agencies when new projects are developed to encourage the integration of services such as child care, job training, vocational education, and similar programs into new affordable housing projects through direct contact with both parties. For on -site child care, the Agency shall consider allocation of the City's Childcare Mitigation Fee to new projects which provide the service. There is no direct hard cost to the City for this program, other than for child care facilities which are funded through a separate mechanism. Policy 4 The City shall continue to strive to meet the State -mandated special shelter needs of large families, female headed households, single parent families, senior citizens, and disabled individuals and families, and shall consider including units for such households in its projects. There is no direct hard cost to the Cityfor this program. Program 4.A The City shall continue to enforce the provisions of the Federal Fair Housing Act. The City shall continue its referral program to the County Fair Housing Office, and shall maintain information at City Hall and the Agency's affordable housing complexes. There is no direct hard cost to the Cityfor this program. Program 4.B The City shall work with the Senior Center and other appropriate agencies in assisting whenever possible in the housing of disabled residents, through participation by the Redevelopment Agency. There is no direct hard cost to the Cityfor this program. Program 4.0 The City shall meet with non-profit developers and other stakeholders annually, beginning in 2011, to establish and implement a strategy to continue to provide housing affordable to extremely low-income households. The City shall also consider prioritizing local financial resources and applying for State and federal funding specifically targeted for the development of housing affordable to extremely low-income households, such as CDBG, HOME, Local Housing Affordable Housing Estimate of Costs - 4/13/2015 Page 9 Trust Fund program and Proposition 1-C funds. The City shall continue to consider incentives, such as increased densities, modifications to development standards, priority processing and fee deferrals as part of the financing package for projects which include extremely low income units. There is no direct hard cost to the Cityfor this program. Policy 5 The City shall strive to provide shelter for the homeless. The costs for achieving this goal are contained in the programs described below. Program 5.A The City shall continue to work with CVAG on a regional solution for homelessness, including the Multi -Service Center in North Palm Springs, and the beds and services it will provide. The City contributes annually to Roy'.s Resource Center, which is tl:e Valley -wide shelter for homeless persons. The contribution for the current fiscal year is $105,000. Assuming that the City's contribution averages 75% of the current contribution over the twenty-year period of consideration, the total cost will be: (75%) X (20 years) X ($105,000) = $1,575,000 Program 5.13 The City shall amend the Zoning Ordinance as follows: a. Allow emergency shelters by right in the Industrial zone and only subject to the same development and management standards that apply to other allowed uses within the Industrial zone. Approval shall be through a non -discretionary design review process. b. Transitional and supportive housing shall be subject to only those restrictions that apply to other residential uses of the same type in the same zone c. Define Single Room Occupancy facilities. d. Amend the definition of "Family" to be consistent with current federal standards. e. Allow group homes of 7 or more in the R-1 and R-2 zones, in addition to the R-3 zone. f. Allow Single Room Occupancy facilities in the Industrial zone, subject to approval of a conditional use permit. The Zoning Ordinance shall be clarified to state that handicapped ramps are permitted in the front, side or rear yard setback of any residential structure. A reasonable accommodation procedure shall be established to provide exception in zoning and land use for persons with disabilities. These modifications to the zoning ordinance have been made. There should be no additional direct hard cost to the Cityfor this program. Program 5.0 The City shall encourage local organizations, such as the Coachella Valley Rescue Mission, Martha's Village and Catholic Charities, to apply to the City for the assignment of CDBG funds for homeless services. Affordable Housing Estimate of Costs - 4/13/2015 Page 10 (Program 5.C, continued) This program is ongoing. Grant monies are used for capital costs resulting from the applications for funding that are received. Policy 6 The City shall continue to utilize restrictions, applicant screenings, and other appropriate mechanisms established as conditions of approval in order to preserve affordable for sale housing units for the long term. This policy is ongoing and has no associated capital costs. Program 6.A The City shall keep in regular contact with the Riverside County Housing Authority to ensure that Section 8 housing assistance within the City is actively pursued. At least 30 households should be assisted every year. There are no hard costs to the Cityfor this Program. Program 6.13 The Agency shall work with affordable housing organizations to preserve the affordability of the Regent Palm Desert project (formerly known as Sevilla or Saint Tropez), which is currently at risk of losing its affordability restrictions in 2016. The Agency may consider financial assistance or purchase, assistance in preparing applications for funding through state and federal programs for third party ownership, and other means to assure the long term affordability of the project. See the discussion and cost estimate under Policy 3, above. Policy 7 The Redevelopment Agency shall annually allocate funds to eligible projects for review and consideration, in conformance with its Five Year Implementation Plan. The Redevelopment Agency has been dismantled at the direction of the State, and no longer prepares a five year implementation: plan. Policy 8 The City Council shall consider, as an additional incentive, the reduction, subsidizing or deferring of development fees to facilitate the development of affordable housing. There are no direct hard costs to the Cityfor implementing this policy. Policy 9 The City shall continue to address the needs of the senior population in development of housing. There are no direct hard costs to the Cityfor implementing this policy. Affordable Hoasing Estimate of Costs - 4/13/2015 Page 1 I Program 9.A The City shall maintain the Senior Housing Overlay District and the Second Unit Housing standards in the Zoning Ordinance. There are no direct hard costs to the Cityfor implementing this policy. Program 9.B The City shall continue to encourage the development of assisted living facilities for seniors. This ongoing program produces outstanding results, and involves no direct hard costs to the City. Policy 10 The City shall implement the State's density bonus law. This work has been completed. No hard costs will be incurred by the City. Policy 11 The City shall maintain the Rental Subsidy Program, the Mortgage Subsidy Program and the First Time Homebuyers Program. The rental subsidy program is accomplished through the City -owned affordable housing apartments wherein the rental revenue offsets the operations and maintenance costs. Therefore, no capital costs are included in this estimate. The first time home -buyers program uses repayments and interest to replenish the down payment assistance, so no hard costs are included in this estimate. The mortgage subsidy program is trot currently active. Policy 12 Promote the jobs/housing balance through the development of housing with convenient access to commercial land uses, schools, available public transport and employment centers. There are no hard costs to the City associated with this policy. Policy 13 Encourage energy conservation through the implementation of new technologies, passive solar site planning and enforcement of building codes. Implementing this ongoing policy requires no capital expenditures by the City. Program 13.A The City shall maintain an Energy Conservation Ordinance which mandates conservation in new construction beyond the requirements of the California Building Code. Implementing this ongoing policy requires no capital expenditures by the City. Affordable Housing Estimate of Costs - 4/13/2015 Page 12 Program 13.13 The City shall encourage Green Building techniques, recycling in demolition, and the use of recycled, repurposed and reused materials in all new affordable housing projects to the greatest extent possible. This policy will be implemented in the event that the City chooses to build its own affordable housing projects in the future. However, no cost is included in this estimate, since any such estimate would be purely speculative. TOTAL COST ESTIMATE FOR AFFORDABLE HOUSING PROGRAMS IDENTIFIED IN THE APPROVED HOUSING ELEMENT: 112.604.66 Total of other funds available to the City of Palm Desert for accomplishing these programs (see attached 112015 Trial Balance as of 03/31/2015): 2,437,718.59 Affordable Housing Estimate of Costs - 4/13/2015 Page 13 COMPUTATION OF POTENTIAL FEE REVENUE City of Palm Desert — Affordable Housing Impact Fee The computation of potential fee revenues begins with identifying the amount of vacant land in Palm Desert on which market rate housing can be developed. For this, an inventory of vacant residential land has been prepared using the current approved Housing Element inventory as a basis, and supplementing it with other vacant parcels which are being considered for residential development. This inventory is presented below. Assessor's Parcel No. General Plan/Zone Size (Acres) Potential Units @ Max. Density 694-130-017 D R-M, R-HO/PCD 10.21 176 694-130-021 G) R-M, R-HO/PR-20 24.16 200 694-130-018 (D) R-M, R-HO/PR-20 3.48 72 694-190-008 (H) MU/PR-20 15 of 29.36 160 694-200-014 (J) R-M, R-HO, MU/PR-20 11.46 194 694-130-012 1 R-M, R-HO/PR-5 33.71 235 694-130-003 (F) R-M, R-HO/PR-20 18.92 302 685-010-005 A C-R/PR-20 30 432 694-310-001 & 005 B C-R/PR-22 10 200 694-120-012 1 I-BP/PR-20 10 200 627-273-018 R-M/R-3 0.3 7 627-273-005 R-M/R-3 0.3 7 625-171-001 R-M/R-3 0.3 7 627-121-044 R-H/R-3 0.25 6 627-121-045 R-H/R-3 0.25 6 627-301-022 R-H/R-3 0.31 7 627-153-007 R-H/R-3 0.22 5 627-101-033, -038, -039, -002, - 017 R-M/R-3 1.64 22 6 7- 41-010 through 013, -29, 031 R-M/OP* and R-2 1.20 19 627-051-002 R-M/R-2 0.16 2 627-031-030 RM/R-2 0.17 2 -71 Affordable Housing Impact Fee Revenue Calculation Page 1 627-052-006 R-M/R-2 0.17 2 627-052-031 R-M/R-2 0.16 2 627-052-033 R-M/R-2 0.16 2 627-084-001 R-M/R-2 0.22 2 627-084-003 R-M/R-2 0.19 2 627-182-004 R-M/R-1 0.20 1 627-182-005 R-H/R-1 0.20 1 627-182-006 R-H/R-1 0.17 1 627-351-042 R-M/R-2 0.20 2 627-351-019 R-M/R-1 0.17 1 625-224-001 R-M/R-1 0.19 1 625-126-009 R-H/R-3 0.14 2 625-061-018 R-M/R-1 0.15 1 625-021-008 R-M/R-1 0.19 1 625-031-011 R-M/R-1 2.20 1 625-032-011 R-M/R-1 0.21 1 624-241-008 R-M/R-1 0.12 1 Total Units (Table III-38 of Housing Element 177.1 2,285 Potential Santa Rosa Golf Course Project 79.5 306 Millennium — SFHs and apartments 63 660 132 Acre Site Shepherd Lane 132 660 170-Acre Site — Specific plan under development — assume 75% residential 127 1,270 Less affordable apartments on City land -20 -400 TOTAL POTENTIAL AT MAX. DENSITY 558.E 4,781 TOTAL POTENTIAL UNITS AT LIKELY DENSITY (6-8 Dwelling Units / acre 3,351 to 4,469 Affordable Housing Impact Fee Revenue Calculation Page 2 COMPUTATION OF POTENTIAL FEE REVENUE (continued) City of Palm Desert — Affordable Housing Impact Fee The total fee potential for all new residential development equals the sum of the fees for each Dwelling Unit (DU), plus the sum of fees for additions to existing homes. A range of fees will be calculated, since there are a range of manners in which the undeveloped residential property in Palm Desert may be developed. The total fees collected will depend upon the density of future residential development, and the size of the dwelling units (both homes and apartments). Although the development pattern in Palm Desert has historically been suburban, low density, single -story, single-family golf resort style homes, the changing demographics and lifestyles indicate that future development might be unlike development to date. Therefore, there is necessarily a degree of uncertainty in these calculations. Formulas: Total Fee Revenue = Fees from new dwelling units + Fees from additions to existing dwelling units Fee for Each Dwelling Unit = (Gross Square Feet of Dwelling Unit) X (Fee per Gross Square Foot) Fee for Average DU = (Gross Square Feet of Average DU) X (Fee per Gross Square Foot) Total fees for all new DU's = (Fee per GSF) X (average GSF of new DU's) X (total # of new DU's) FIRST: Calculate the total fees for all new dwelling units using expected densities of development and estimated sizes of homes and apartments: From the inventory table on the previous page, the total number of new dwelling units may be as low as 3,351 but may be as high as 4,781. Assuming that, in response to changing demographics and lifestyles, future development of the inventoried lands will feature homes smaller than those historically constructed in Palm Desert, the average size of new market -rate DU's is likely to be between 2,000 and 2,500 gross square feet (GSF). On the low end of the range, at an average size of 2,000 GSF, the potential fee revenue for 3,351 dwelling units would be: Sum of fees for all new DU's = ($2.00 per GSF) X (average of 2,000 GSF) X (3,351 DU's) _ $13.4 Million Affordable Housing Impact Fee Revenue Calculation Page 3 while on the high end of the density range, but still with an average size of 2,000 GSF, the fee revenue for 4,781 dwelling units would be: Sum of fees for all new DU's = ($2.00 per GSF) X (average of 2,000 GSF) X (4,781 DU's) _ $19.1 Million Now for the high end of the range, at an average size of 2,500 GSF, the potential fee revenue for 3,351 dwelling units would be: Sum of fees for all new DU's = ($2.00 per GSF) X (average of 2,500 GSF) X (3,351 DU's) _ $16.8 Million and the fee revenue for 4,781 dwelling units would be: Sum of fees for all new DU's = ($2.00 per GSF) X (average of 2,500 GSF) X (4,781 DU's) _ $23.9 Million NEXT: Calculate the total fees for additions and remodels to existing homes. Note that the number of residential remodels and additions that increase the number of bedrooms is not directly tracked. However, an approximation can be made by starting with the number of residential remodel/addition projects with construction values of $15,000 or more in one year. (A bedroom addition likely will cost more than $15,000.) In the calendar year 2014, the City of Palm Desert issued 178 building permits for residential remodels and additions with a value of $15,000 or more. Assuming that 2/3 of these projects are for interior remodels of bathrooms, kitchens, and other living space, without involving an increase in the number of bedrooms, there are 1/3 of 178 or 60 existing homes that increase the number of bedrooms, presumably by one bedroom each, over the course of one year. The affordable housing impact fee for these projects over the course of 20 years would be: (60 bedrooms) X (avg. 250 SF per bedroom) X ($2.00 per GSF) X (20 years) _ $600,000 The total fee potential for all new residential development equals the sum of the fees for each DU, plus the sum of fees for additions to existing homes. From the information above, the project range of the total fee revenues is: Low end: ($13,400,000 to $19,100,000) + $600,000 = $ 14.0 to $19.7 million High end: ($16,800,000 to $23,900,000) + $600,000 = $ 17.4 to $24.5 million Affordable Housing Impact Fee Revenue Calculation Page 4 CITY OF PALM DESERT PUBLIC HEARING NOTICE NOTICE OF INTENT TO ADOPT AN AFFORDABLE HOUSING IMPACT FEE FOR NEW MARKET -RATE RESIDENTIAL DEVELOPMENT. NOTICE IS HEREBY GIVEN that on Thursday, 23 April 2015, the Palm Desert City Council will consider approval of two nexus -based studies and adoption of an ordinance establishing an affordable housing impact fee and a resolution establishing the amount of that fee for new development of new market -rate for -sale and rental housing in Palm Desert, California. For the purpose of this proposed fee, "new development of market -rate for -sale and rental housing" includes single family homes, condominiums, time-share units, apartments, and additions to, or remodels of, existing dwelling units when such additions/remodels include the addition of bedroom(s). Dwelling units on which affordability restrictions have been placed for thirty (30) or more years are exempt from the proposed ordinance. The adoption of such a fee constitutes the creation of a government funding mechanism or other government fiscal activity that does not involve any commitment to any specific project that may result in physical environmental impacts and, accordingly, is not considered a project under the provisions of the California Environmental Quality Act (CEQA). PUBLIC HEARING: Said public hearing will be held before the City Council of the City of Palm Desert on Thursday, 23 April 2015 at 4:00 p.m. in the City Council Chamber at the Palm Desert Civic Center, 73-510 Fred Waring Drive, Palm Desert, California, at which time and place all interested persons are invited to attend and be heard. Written comments concerning all items covered by this public hearing notice shall be accepted up until the date of the hearing. At least ten (10) days before the hearing, the nexus studies and other information will be made available to the public to indicate the estimated cost of providing the affordable housing required to support future market -rate development and the revenue sources anticipated to be available to fund that affordable housing. This information will be available for review in the Department of Community Development at the above address between the hours of 8:00 a.m. and 5:00 p.m. Monday through Friday. If you challenge the proposed actions in court, you may be limited to raising only those issues you or someone else raised at the public hearing described in this notice, or in written correspondence delivered to the City Council at, or prior to, the public hearing. Lauri Aylaian, Director of Community Development City of Palm Desert 73-510 Fred Waring Drive Palm Desert, CA 92260 (760) 346-0611 laylaian@cityofpalmdesert.org PUBLISH: DESERT SUN RA ELLE D. KLASSEN, ITY CLERK 12 and 19 April, 2015 CITY OF PALM DESERT, CALIFORNIA GOVERNMENT CODE SECTS. 66000 - 66025 Current Requests for Notice As of January 2015 Ms. Gretchen Gutierrez, CEO Desert Valleys Builders Association 75100 Mediterranean Palm Desert CA 92211 Ms. Jennifer Cusack, Region Mgr. Local Public Affairs - S. C. E. 36100 Cathedral Canyon Drive Cathedral City CA 92234 Ms. Deborah McGarrey, Public Affairs Southern California Gas Company 75095 Mayfair Drive Palm Desert CA 92211-5102 Mr. Nathan A. Miller, Dir. Govtl. Affairs Riverside Co. Chapter - B I A So. Cal. 3891 11 th Street Riverside CA 92501 hECEIVED CITY CLERK'S OFFICE PALM DESERT. CA 2015 APR 23 AM 10: 09 April 23, 2015 Re: City of Palm Desert — City Council Agenda — April 23, 2015 Objections to Proposed "Affordable Housing Impact Fees" and Request for Continuance of Council Consideration To the Honorable Mayor and Members of the City Council: d% BIA R i1'ersidc' C oulat• C'h(1Ptc11* 3891 11" Street Riverside, California 92501 (951) 781-7310 Fay 9951)781-0509 This letter is respectfully submitted on behalf of the Riverside County Chapter of the Building Industry of Southern California and its members, in response to the proposal that the City adopt a new and unsanctioned "impact fee" to be used to subsidize "affordable housing" in the City of Palm Desert. This letter summarizes some of our concerns and potential legal complications to the proposed new "affordable housing impact fee." The Council is respectfully urged to reject the proposal, at least in its present form, and to instead direct City Staff to work with the BIA and other critical stakeholders to develop a more lawful, effective and market driven approach to improving the affordability of housing in Palm Desert. Below you find a brief summary of our general objections to the proposed fee as well as a list of our legal concerns on the matter. Additionally, Attachment A elaborates on each specific legal issue. Introduction and Request for Deferral of Council Consideration: It should be noted at the outset that we greatly appreciate the opportunity to comment. We do regret that we have been forced to communicate our concerns in this rushed manner, and so close to the scheduled Council meeting. However, BIA and other members of the public were not given adequate prior notice of this proposed action, nor any meaningful opportunity to review the associated nexus studies that assumes supports the proposed resolutions. The BIA did not receive notification until April 13, 2015 and then had to request for an electronic copy of the study which was not initially provided. There were no advance informal meetings between staff and the affected stakeholders, nor any study sessions or opportunities to question the consultant about the novel methodology and assumptions used in creating the nexus studies, nor to discuss the negative impacts of this fee on all housing construction activity in Palm Desert. We strongly recommend that this matter be deferred and continued, to allow for further public review and input, should the Council choose or choose not to consider it at a later date. The BIA does not question the importance of attempting to improve the affordability of housing in Palm Desert and other Riverside County communities. That is a worthy and legitimate public An Athh.I:t 01U;r ti.at rn.ii ASFO. ;a:uui :d Ilom" 131111dolr .uid the U1110rni,i 1311ild][19 Indumi As<<xi.uion objective. The BIA and its members are among the most supportive advocates for constructive, reasonable, and lawful measures that will actually improve the supply and affordability of housing, including policies promoting the increased production of homes affordable to residents in all income ranges. Local governments concerned about the affordability of housing should therefore be encouraging new housing production and adopting policies to incentivize new housing development as opposed to creating new burdens on housing development that many have determined to be counter- productive as such is the case with inclusionary zoning type impact fees. Housing "impact fees" and their relational inequities are regressive. They disproportionately burden entry-level renters and homebuyers. They are generally ineffective and in many cases counter- productive to their objective. Planning professionals and housing advocates increasingly recognize them as constraints on the production of housing and the supply of affordable housing in particular. This letter summarizes legal objections to the proposed imposition of affordable housing impact fees and deficiencies of the purported nexus study. However, the City is urged to also take note of the policy criticisms and economic objections to such the proposed impact fees and exactions (E.g., Cal. Gov. Code § 65589.5(a)(2): "The excessive cost of the state's housing supply is partially caused by activities and policies of many local governments that limit the approval of housing, increase the cost of land for housing, and require that high fees and exactions be paid by the producers of housing.") • Objections to Unlawful Fees on New "For Sale" Homes • No Statutory Authority for "Impact Fees" to Fund "Affordable Housing" • The Proposed "Impact Fees" Are NOT Justified by the "Nexus Studies" • The Purported "Nexus Studies" Are Flawed and Fail to Meet Evidentiary Requirements to Demonstrate a Reasonable Relationship Between New Housing Development and Increased Public Needs for Privately -Subsidized Affordable Housing • Failure to Comply With the Mitigation Fee Act • The Proposed New "Impact Fees" Would Violate California Constitutional Prohibitions Against "Special Taxes" Without Voter Approval • General Plan "Consistency" Issues • State Housing Law Issues • Denial of Equal Protection of the Laws and Substantive Due Process • Unlawful Fees on New "For Rent" Homes • Unlawful Circumvention of State Rental Housing Law We again appreciate the opportunity to comment and respectfully reserve the right for additional review of the study and supplemental documentation to determine additional legal conflicts and issues as our time frame to do so in this circumstance has been unfortunately limited. If you have any questions regarding this request of notification please do not hesitate to contact me at (951) 505-2594 or nmiller@riversidebia.org. Sincerely, ( � x4x� Nathan A. Miller Director of Government Affairs An AYi=a.tt, i,l thr tiaU:ui.il A,sot i.uum id Ilo le U1111dci s and thr r: IM"! 111A Hu;;1lirr9 Indushy A�stxmlion