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ATTY/RESO.0042/HOUSING IN-LIEU FEES <br />REV: 05-15-18 PR <br />Page 3 of 3 <br />EXHIBIT "A" <br /> <br />Housing In-Lieu Fees for Residential Development Otherwise Required to Provide <br />Affordable Housing Onsite Under Article 29 of the Zoning Ordinance <br /> <br />Housing in-lieu fees for residential projects shall be calculated per affordable unit otherwise <br />required. If a fractional unit is required under Zoning Ordinance Article 29 (Affordable <br />Housing Ordinance), the fraction shall be applied to the per unit fee. <br /> <br />Rental Projects - Amount of Fee: The fee shall be $400,000/affordable unit for rental <br />projects. For example if a project requires 5.3 affordable units, the required in-lieu fee shall <br />be: <br /> <br />($400,000 x 5.3) = $2,120,000 <br /> <br />Ownership Projects - Fee Amount: Prior to a decision on the planning permits for a <br />residential development, the applicant shall provide an affordability gap analysis consistent <br />with Section 29.8 (Alternatives) of the Zoning Ordinance demonstrating that the in-lieu fee <br />is adequate to cover the cost of providing at least an equivalent number of affordable units <br />as would otherwise be required under Article 29. <br /> <br />Time of Payment: Fees shall be paid that are in effect at the time of issuance of the building <br />permit for the residential development, based on the effective rate at the time of building <br />permit issuance. <br />7.A. - Page 46