Community Benefit Fee opportunity

On Thursday, February 23, the Placer County Planning Commission will consider approval of two more Squaw Valley development projects:  Plumpjack Squaw Valley Inn and The Palisades at Squaw.  Obviously, these development proposals have not received the same scrutiny as the Village at Squaw Valley but they still represent an opportunity for the developer to commit to a Community Benefit Fee, to offset their impacts to the community as well as contribute to a fund that will improve the Squaw Valley environment and community.  When the project proposals were reviewed at the Squaw Valley Municipal Advisory Council meetings, that council made recommendations that both developers consider a commitment to a Community Benefit Fee.

A “Community Benefit Fee”, implemented as real estate transfer fee, “is a covenant recorded against real property, imposing a fee (typically a percentage of the gross sales price) on the transfer (sale or exchange) of the covenanted land/lots” (Porter Simon 2006 document).  The fees are an instrument developers can self-impose on their projects to further mitigate the impact of their projects and provide enhanced benefits to the community in which they are located.

Locally, since 2006, Martis Valley developers pay “private community benefit fees” into the Martis Fund which supports programs to conserve open space, enhance habitat and forest lands, and promote workforce housing opportunities.  It is a collaboration between DMB/Highlands Group, Mountain Area Preservation (MAP), and Sierra Watch.

When the Resort at Squaw Creek, phase 2, was approved in 2008, that developer agreed to pay 0.25% of all residential real property real estate transfer fees into a fund, run by a non-profit entity, to provide benefit to the local community.  It is paid in escrow and is a joint obligation of the buyer and seller.  Recently, Placer County granted an additional extension of the Resort’s phase 2 project entitlements into 2019.  As such, no fees have yet to be generated.

Last fall, at both the Planning Commission hearing and the Board of Supervisors’ meeting, Squaw Valley Real Estate, as developer of the Village at Squaw Valley Specific Plan, committed to a 1.5% transfer fee, in perpetuity, on all new and resales of residential property in their development and to be overseen by a new entity “the Squaw Valley Foundation”.  This would be an incredible opportunity for all of Squaw Valley.

Although the County does not impose or oversee the collection of these fees or their implementation for community benefit, they are clearly a wonderful opportunity to “achieve a wide range of charitable, philanthropic, or community goals.” (ibid -Porter)

Please write the Planning Commission (these projects do not require Board of Supervisor approval) or attend the February 21 hearing in Auburn, or remotely by interactive video in Tahoe City, at 10:15 and 10:45 and request Plumpjacks and the Palisades to commit to a Squaw Valley Community Benefit Fee.

http://www.placer.ca.gov/departments/communitydevelopment/planning/pchearings