a proposed amendment to the linkage fee

To: Cambridge City Council From: City Councillor Marc McGovern Date: September 29, 2022 Re: Dear Colleagues: With the upcoming conversation regarding raising linkage fees, I would like to offer, along with my colleagues, Councillor Azeem, Councillor Zondervan and Councillor Simmons, the following amendment: Housing Contribution Rate. The Housing Contribution Rate effective upon ordination shall be twenty dollars and ten cents ($20.10) thirty-three dollars and thirty-four cents ($33.34) per square foot of Gross Floor Area, excluding the first 30,000 square feet for buildings less than 60,000 square feet in total size, devoted to the uses that qualify the new development as an Incentive Project. The effective rate shall be subject to annual escalation equal to annual percentage increases in the Consumer Price Index (CPI) Housing Index for Boston-Brockton- Nashua, MA-NH-ME-CT or similar index to reflect changes in dollar values over time; however, annual decreases in CPI shall not cause the contribution rate to be decreased. The table below is intended to administratively track changes to the Housing Contribution Rate as it is adjusted over time.”