HomeMy WebLinkAbout2016-06-21 Finance Committee Action MinutesSpecial Meeting
Tuesday, June 21, 2016
Chairperson Filseth called the meeting to order at 7:04 P.M. in the Community Meeting Room, 250 Hamilton Avenue, Palo Alto, California.
Present: Filseth (Chair), Holman arrived at 7:38 P.M., Schmid, Wolbach
Absent:
Oral Communications
None.
Action Items
Third Quarter FY 2016 Financial Report.
MOTION: Council Member Wolbach moved, seconded by Council Member Schmid to recommend the City Council approve the Third (3rd) Quarter Financial Report.
MOTION PASSED: 3-0 Holman absent
2. Review Updates to Commercial and Residential Impact Fee Nexus Studies and Recommend Framework for a Draft Ordinance to Adopt Housing Impact Fees for Residential and Commercial Construction.
MOTION: Council Member Wolbach moved, seconded by Council Member Holman to recommend:
Staff draft an affordable Housing Impact Fee Ordinance using the Staff proposal based on the Finance Committee recommendations found in Table 1 of the Staff Report; and
Staff and Planning and Transportation Commission explore options which would allow Office, R&D and Hotels to proportionally reduce their impact fee payment by providing Below Market
Rate housing onsite or offsite or by deed restricting existing units as affordable.
AMENDMENT: Council Member Schmid moved, seconded by Council Member XX that the market rate rental housing fee be set at $30 per square foot.
AMENDMENT FAILED DUE TO LACK OF A SECOND
MOTION PASSED: 3-1 Schmid no
Future Meetings and Agendas
Adjournment: The meeting was adjourned at 9:23 P.M.
DRAFT ACTION MINUTES
Page 2 of 2
Finance Committee Action Minutes
June 21, 2016
FINANCE COMMITTEE
DRAFT ACTION MINUTES
Page 1 of 2
Finance Committee Action Minutes
June 21, 2016