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Ordinance No. XXX, Series 2020 <br />Page 6 of 15 <br />C. Live/work. Live/work units shall be considered residential <br />development for the purposes of this Chapter. <br /> <br />Sec. 17.76.050 Options to satisfy requirements. <br /> <br />A. On-site location. The developer or builder may satisfy its <br />obligations under this Chapter by providing affordable housing at the same <br />location as market-rate units. <br /> <br />1. Quantity and design. At least 12 percent (12%) of the dwelling <br />units in the development shall be affordable. The design and <br />materials used for construction of affordable units shall be <br />equivalent in quality to the market rate units. <br /> <br />2. Phasing. Phasing of construction of affordable units and securities <br />for each phase shall be detailed in an affordable housing agreement <br />approved by the City Council or may be included in a subdivision <br />or other agreement executed by the City and developer at the time <br />of land use approval. <br /> <br />3. Affordable units shall have equal access as market-rate units to all <br />amenities within the development, including but not limited to, <br />common areas, indoor and outdoor facilities for convenience or <br />recreation, and parking facilities. <br /> <br />4. Homeowner associations. Affordable units must be placed on a <br />fair and equal footing as market-rate units within the governing <br />documents of any homeowner association or similar entity. <br /> <br />B. Fee in lieu. A developer may pay a fee in lieu of providing <br />affordable units. <br /> <br />1. Amount. The City Council finds that studies performed by <br />municipalities within the vicinity of the City reasonably calculates <br />the impact to the City, including the City's finances and the welfare <br />of the City's residents, of market-rate dwelling units being <br />developed in the City. Accordingly, the fee in lieu is set initially at <br />$7.90 per square foot of finished market-rate for-sale housing, and <br />$1.90 per square foot of finished market-rate rental housing. The <br />fee in lieu of providing any required fraction of a unit shall be pro- <br />rated based on its proportional share (fractional quantity divided <br />by total number of units required) of the amount of fee in lieu that <br />would be required for the whole development. The City Manager <br />shall periodically recalculate the fee in lieu and present the <br />recalculation to the City Council.