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Hermosa Beach lowers development fees to save 'failed' affordable housing plan
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Hermosa Beach lowers development fees to save 'failed' affordable housing plan
by Kevin Cody To encourage residential development in Hermosa’s downtown and along Pacific Coast Highway, the Hermosa Beach City Council voted at its Tuesday, February 4 meeting, to eliminate associated development fees on one- and two-unit projects. And to reduce fees on three- and four-unit developments from $76/sq.ft. to $40/sq.ft. The fees are contained in the city’s Land Value Recapture (LVR) plan, implemented by the council two years ago. …
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