23.61.030 AFFORDABLE HOUSING COMMERCIAL LINKAGE FEE.

(a) An affordable housing commercial linkage fee is hereby imposed on all developers of commercial development projects. The amount of the affordable housing commercial linkage fee shall be established, from time to time, by resolution of the City Council. Fees shall not exceed the cost of mitigating the impact of commercial development projects on the need for affordable housing in the City.

(b) Payment of the affordable housing commercial linkage fee shall be done at the issuance of the building permit for the development. The fee shall be calculated based on the fee schedule in effect at the time the building permit is issued.

(c) Commercial development projects where the developer voluntarily enters into an "Area Standard Wage Participation Agreement" with the City will be entitled to a reduction of the commercial linkage fee that would otherwise be applicable to the development project. The amount of the reduction and terms of the agreement will be established by resolution of the City Council.