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
Project Name Project Address Aff'd BR Size # Units Units Fee/Unit Fee/Month Studio 0 0 204$ -$ 1 54 8.1 470$ 3,807$ 2 67 10.05 666$ 6,693$ 3 18 2.7 1,202$ 3,245$ TOTAL 139 20.85 13,746$ Cost Per Unit BR Size 2025 HUD FMR Santa Fe Aff'd Rent Base Gap* Adjusted Gap (100% )after July 1, 2024** Studio $1,235 1,133.00$ $102.00 $204.00 1 BR $1,368 1,133.00$ $235.00 $470.00 2 BR $1,627 1,294.00$ $333.00 $666.00 3BR $2,057 1,456.00$ $601.00 $1,202.00 **Calculation: Base gap x 2 = Adjusted Gap Calculation for Fee-in-Lieu Payment Example Project Example Project Calculation Base Fee by Unit Type Start with HUD Fair Market Rent (FMR). Subtract the 65% rent amount. Multiply the rent gap by 2 to set the base fee. *Calculation: HUD FMR - Santa Fe Affordable Rent = Base Gap Project Fee -$ 91,368.00$ 160,639.20$ 77,889.60$ 329,896.80$ 15,822.39$ t Project Name Project Address Aff'd BR Size # Units Units Fee/Unit Fee/Month Studio 0 0 1,424$ -$ 1 54 8.1 1,690$ 13,689$ 2 67 10.05 2,058$ 20,683$ 3 18 2.7 2,768$ 7,474$ TOTAL 139 20.85 41,846$ Cost Per Unit BR Size 2025 FMR as determined by HUD Santa Fe Aff'd Rent Base Gap* Adjusted Gap (100% )after July 1, 2024** Studio $1,235 523.00$ $712.00 $1,424.00 1 BR $1,368 523.00$ $845.00 $1,690.00 2 BR $1,627 598.00$ $1,029.00 $2,058.00 3BR $2,057 673.00$ $1,384.00 $2,768.00 Calculation for Fee-in-Lieu Payment Example Project Example Project Calculation Base Fee by Unit Type Start with HUD Fair Market Rent (FMR). Subtract the 30% rent amount. Multiply the rent gap by 2 to set the base fee. **Calculation: Base gap x 2 = Adjusted Gap *Calculation: HUD FMR - Santa Fe Affordable Rent = Base Gap Project Fee -$ 328,536.00$ 496,389.60$ 179,366.40$ 1,004,292.00$ 48,167.48$ ent