Regular Governing Body Meeting - Second Wednesday — Wed, Sep 9, 2026 · 19.b CONSIDERATION OF BILL NO. 2026-11. ADOPTION OF ORDINANCE NO. 2026-____. (Mayor Michael Garcia, Councilor Alma Castro, Councilor Pilar Faulkner, and Councilor Lee Garcia)A Bill Relating to the Santa Fe Homes Program and Requirements for Rental Units; Amending Section 26-1.22 to Make Certain Technical Changes, to Clarify the Calculation of Fees Paid in Lieu of Providing On-Site Affordable Units, to Amend the Fee-in-Lieu Calculation to Use Thirty Percent of the Area Median Income Instead of Sixty-Five Percent when Determining Base Fee Amount, and to Specify that Developers May Work with the Office of Affordable Housing to Establish a Payment Date. (Faviola Chavez, Affordable Housing Director; fachavez@santafenm.gov) Committee Review: Governing Body (Introduction): 05/27/2026Governing Body (Public Comment): 06/10/2026Quality of Life Committee 06/17/2026 (POSTPONED TO A DATE CERTAIN - QUALITY OF LIFE COMMITTEE 07/01/2025)Finance Committee: 06/22/2026 (POSTPONED TO 07/06/2026)Governing Body (Public Hearing): 07/08/2026 (POSTPONED TO 07/29/2026)Quality of Life Committee: 07/01/2026 Finance Committee: 07/06/2026 (POSTPONED TO 07/27/2026) Governing Body (Public Hearing): 07/29/2026 (POSTPONED FOR NOTICING) Finance Committee: 07/27/2026 Governing Body (Public Hearing): 08/12/2026 (POSTPONED TO THE 09/09/26 REGULAR GOVERNING BODY MEETING) Governing Body (Public Hearing): 09/09/2026
Updated Ordinance Example Calculations 2025 FMR Numbers and example unit numbers: BR Size 2025 FMR as determined by HUD # Units Total Aff'd Units Required Studio $1,235 0 0.00 1 BR $1,368 54 8.10 2 BR $1,627 67 10.05 3 BR $2,057 18 2.70 139 20.85 *The FMR remains the same for both the current calculation and the proposed calculation Under current ordinance using 65% AMI for fee-in-lieu calculation: BR Size Santa Fe Aff'd Rent** Base Gap Adjusted Gap (100% )after July 1, 2024 Studio $ 1,133.00 $ 102.00 $ 204.00 1 BR $ 1,133.00 $235 $ 470.00 2 BR $ 1,294.00 $333 $ 666.00 3BR $ 1,456.00 $601 $ 1,202.00 Fee Per Month Project Fee** $0 0 $3,807.00 $91,368.00 $6,693.30 $160,639.20 $3,245.40 $77,889.60 Total: $13,745.7 Project Total: $329,896.80 *Fee per month = adjusted base gap x number of affordable units * Project fee = fee per month x 24 Under proposed ordinance change using 30% AMI for fee-in-lieu calculation: BR Size Santa Fe Aff'd Rent** Base Gap Adjusted Gap (100% )after July 1, 2024 Studio $ 523.00 $ 712.00 $ 1,424.00 1 BR $ 523.00 $ 845.00 $ 1,690.00 2 BR $ 598 .00 $ 1,029.00 $ 2,058.00 3BR $ 673.00 $ 1,420.00 $ 2,840.00 Fee Per Month Project Fee** $0 0 $13,689.00 $328,536.00 $20,682.90 $496,389.60 $7,668.00 $184,032.00 Total: $42,039.90 Project Total: $1,008,957 *Fee per month = adjusted base gap x number of affordable units * Project fee = fee per month x 24