SLO council approves lower fees
July 24, 2012
Developer fees for construction in the Margarita area have been reduced by nearly $2.3 million by the San Luis Obispo City Council in an effort to settle a disagreement and stimulate home building.
The agreement was made with Rescal, a company that owns a pair of residential subdivisions. MD2 Communities is building 177 homes in the southeastern part of the area.
By approving the fee reduction, council members made it possible for builders to enjoy a $5,000 per unit reduction in costs.
The development area is contained within the boundaries of South and Broad streets and South Higuera.
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