Linkage fee for housing now on the books in Watertown
The Watertown City Council approved a zoning amendment Tuesday that would add a $11.12 per SF linkage fee to new commercial developments and major renovations over 30,000 SF.
The funds will be used for affordable housing.
While the chamber aired concerns about the proposed zoning amendment, we always supported using linkage as one tool to address the housing shortage.
We’re thankful to the Planning Board and City Council for supporting a two-payout compromise (half upon receipt of certificate of occupancy, the balance 12 months later) and for listening to the concerns of the business community.
BTW, Boston voted this week to increase its linkage fees, although the city agreed to delay the rate increase to January and then phase-in the rates, two ideas we also suggested in Watertown, without success.
And in case you missed it, scroll down to watch the video from our chamber life sciences panel discussion yesterday.