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The Board of Supervisors hereby finds that:
A. The additional affordable housing requirements of this Section are supported by the Nexus Study performed by Keyser Marston and Associates referenced in Section 415.1(11) and found in Board File No. 081152. The Board of Supervisors has reviewed the study and staff analysis and report of the study and, on that basis, finds that the study supports the current inclusionary affordable housing requirements combined with the additional affordable housing fee. Specifically, the Board finds that the study: (1) identifies the purpose of the additional fee to mitigate impacts on the demand for affordable housing in the City; (2) identifies the use to which the additional fee is to be put as being to increase the City's affordable housing supply; and (3) establishes a reasonable relationship between the use of the additional fee for affordable housing and the need for affordable housing and the construction of new market rate housing. Moreover, the Board finds that the current inclusionary affordable requirements combined with the additional fee are less than the cost of mitigation and do not include the costs of remedying any existing deficiencies. The Board also finds that the study establishes that the current inclusionary affordable requirements and additional fee do not duplicate other City requirements or fees.
B. Furthermore, the Board finds that generally an account has been established, funds appropriated, and a construction schedule adopted for affordable housing projects funded through the Inclusionary Affordable Housing program. The Affordable Housing Fee will reimburse the City for expenditures on affordable housing that have already been made.
C. A major Market and Octavia Area Plan objective is to direct new market rate housing development to the area. That new market rate development will greatly outnumber both the number of units and potential new sites within the plan area for permanently affordable housing opportunities. The City and County of San Francisco has adopted a policy in its General Plan to meet the affordable housing needs of its general population and to require new housing development to produce sufficient affordable housing opportunities for all income groups, both of which will not be met by the projected housing development in the plan area. In addition, the "Draft Residential Nexus Analysis City and County of San Francisco" of December 2006 indicates that market rate housing itself generates additional lower income affordable housing needs for the workforce needed to serve the residents of the new market rate housing proposed for the plan area. In order to meet the demand created for affordable housing by the specific policies of the Plan and to be consistent with the policy of the City and County of San Francisco it is found that an additional affordable housing fee need be included on all market rate housing development in the Plan Area with priority for its use being given to the Plan area.
(Added by Ord. 108-10, File No. 091275, App. 5/25/2010; Ord. 312-10, File No. 100046, App. 12/23/2010)