28.6 Payment In-Lieu Fee

A developer may opt to pay an in-lieu fee rather than construct affordable housing units on-site for both rental and for-sale housing units.

A.        A reduction in the amount of required affordable housing unit(s) for developments located within an MIZ District may be granted conditioned upon payment of a fee-in-lieu per unit not constructed on-site. Such payment shall be placed into a City fund to be used by the City for the acquisition, construction and maintenance of affordable housing.

B.        The payment in-lieu fee shall be paid concurrently with the payment of building permit fees for the development project in accordance with the fee schedule in effect at the time of the building permit application.

C.        The exact amount of the fee in-lieu shall be decided based on the location of the development and the corresponding fee schedule outlined in the Code of Ordinances. This number may be adjusted for inflation as deemed necessary by the City Council.

D.        The Developer shall pay in-lieu fees prior to the receipt of the Certificate of Occupancy of the development.

E.         Upon payment, the development shall be granted the modification of required housing units permanently by ordinance with the number of units for which payment was received by the City.

Ord 28178, 9-5-19, ZD 49/19