Housing and Community Development
 

County Inclusionary Housing Ordinance – Annual Updates to Affordable Housing Inclusionary Housing Requirements and In-Lieu Inclusionary Housing Fees

The following adjustments were made for the by Community Services Department (CSD) after an annual review of inclusionary housing requirements, which was completed by the third quarter of 2015:

  • Inclusionary housing requirements (including for developments of five to nineteen lots/units) for the moderate and workforce income household categories were waived for FY 2015 for the Santa Maria and Lompoc HMAs; and 
  • Inclusionary housing requirements for the workforce income household category are waived for FY 2015 for the Santa Ynez HMA.

The adjustments to the inclusionary housing requirements are based on home sales price records for each housing market area (HMA) over a twelve-month period as recorded by the County Assessor.  The results of the 2015 annual adjustment of the inclusionary housing requirements are shown in the following table:

Table 1

The grey-highlighted portions of this table reflect the adjustments to the County's inclusionary housing requirements. The percentages represent the percent of housing units that will be price-restricted to the applicable affordable level.

 

In-lieu Fees for the Inclusionary Housing Ordinance

Housing Market Area (HMA)

Very Low and Low

Moderate and Workforce

South Coast

 $                             130,500

 $                                             487,700

Santa Maria

 $                               67,600

 $                                             173,600

Santa Ynez

 $                             110,500

 $                                             326,100

Lompoc

 $                               70,100

 $                                             160,400

 

 

In-lieu Fee Update for Very Low and Low Units Based on Percentage Change in Median Sales Price of Condominiums

HMA 2013 Median Sales Price of Condos 2014 Median Sales Price of Condos % Change 2014 In-Lieu Fee plus % change 2015 In-Lieu Fee
South Coast 487,704 573,738 17.64% 110,900 19,563.45  $      130,500
Santa Maria 187,500 204,200 8.91% 62,100 5,531.04  $        67,600
Santa Ynez 310,000 383,591 23.74% 89,300 21,198.96  $      110,500
Lompoc 120,544 188,696 56.54% 44,800 25,328.59  $        70,100

 

In-lieu Fee Update for Moderate and Workforce Units

 

 

 

HMA

2014 Median Sales Price of Condos

15% of Median Sales Price of Condos

2015 In-Lieu Fee

South Coast 573,738 86,060.70  $       487,700
Santa Maria 204,200 30,630.00  $       173,600
Santa Ynez 383,591 57,538.65  $       326,100
Lompoc 188,696 28,304.40  $       160,400

 

Median Condominium Sales Price by HMA, 2008-2015

Year

HMA

 

South Coast

Santa Maria

Santa Ynez

Lompoc

2008 (released July ‘09)

$530,500

$177,000

$279,990

$91,800

2009 (released July ‘01)

$487,500

$165,107

$311,141

$174,798

2010 (released July ’11)

$477,292

$168,257

$232,884

$181,355

2011 (released July ’12)

$474,351

$134,000

$255,000

$180,000

2012 (released July ’13)

$415,000

$139,740

$241,867

$123,050

2013 (released July ’14)

$487,704

$187,500

$310,000

$120,544

2014 (released July ’15)

$573,738

$204,200

$383,591

$188,696

Documents

Board Letter

Notice of Exemption

Inclusionary Housing Ordinance 4855