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Linkage fees are levied in some states (such as Massachusetts, New Jersey, and California) on nonresidential and market-rate multifamily residential projects, normally upon receipt of the building permit or prior to construction. Linkage fees are a derivative of development impact fees and are exacted on developers by some cities and countries ...
The Supreme Court says home builders in California may challenge the fees commonly imposed by cities and counties to pay for new infrastructure. Builders may fight 'impact fees' that fund ...
The Vallco Shopping Mall redevelopment project in Cupertino is the largest project to have utilized SB 35. [22] The project will include retail and 2 million square feet of office space, and 2,402 total units of housing. Half of those units, or 1,201, will be designated as below-market rate housing for low and very low-income residents. [9]
Cons of new construction Longer timeline If you have a short window to move into a new home, buying new construction or a home that’s still being built might not be for you.
How much does it cost to build a house in total? The average cost to build a house in 2024 is $329,000, or about $150 per square foot, according to Forbes. However, that figure comes with a huge ...
The total project cost, including additional private investments in retail and housing, is estimated at $650 million, of which $250 million will be financed using TIF capture to repay 30-year tax exempt bonds purchased by the Michigan Strategic Fund, the state's economic development arm.
Architects cost: $125 to $250 per hour. Construction manager cost: 5% to 15% of the total project cost. Electrician rate: $50 to $100 per hour. General contractor cost: 10% to 20% of the total ...
Whether fees can be paid in lieu of building inclusionary housing. Fees-in-lieu allow a developer to "buy out" of an inclusionary housing obligation. This may seem to defeat the purpose of inclusionary zoning, but in some cases the cost of building one affordable unit on-site could purchase several affordable units off-site.
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