The Atascadero city council unanimously approved to introduce an ordinance last night to include the deferral of impact fees for affordable housing projects in its municipal code.
This is a direct implementation of a housing element program in the city’s general plan, which states that the city will provide incentives such as development impact fees for units that are affordable to lower-income households. The deferral would be a 4% interest rate loan that must be paid in full within 17 years, and is requested and approved prior to the issuance of construction permits.
The city council approved the ordinance last night, but a requested adjustment to its wording on eligibility for only residential zoned property will be brought back to council in a consent agenda item for its next meeting.
