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Electrical Permit Fees(all� <br /> $25 per$1,000 value of wark <br /> Assume construction cost per unit is $700,000. Pro-rated Building Permit fee for that unit= <br /> $10,500. <br /> Assume construction cost per 5 units is $3,500,000. Building permit fee is $52,500 <br /> Assume construction cost per 30 units is $21,000,000. Building permit fee is $315,000, but the <br /> maximum waived would be limited to $100,000. <br /> The fee-waiver is essentially a subsidy the Town would contribute by foregoing a portion of the <br /> Building Permit fee revenue on a multi-family development to increase the development's <br /> affordable housing component. The resulting increased affordability would be recorded in the <br /> deed-restriction. <br /> As the Affordable Housing Trust engages with developers who are preparing to submit <br /> applications for multi-family housing developments, either through Special Residential <br /> Developments or MBTA Overlay districts, a Select Board policy of buy-downs through fee <br /> waivers could make a meaningful difference. <br /> 2 <br />