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Sec. 17.76.050 Options to satisfy requirements. <br />A. On -site location. The developer or builder may satisfy its <br />obligations under this Chapter by providing affordable housing at the same location <br />as market -rate units. <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 />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 />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 />4. Homeowner associations. Affordable units must be placed on a fair <br />and equal footing as market -rate units within the governing <br />documents of any homeowner association or similar entity. <br />B. Fee in lieu. A developer may pay a fee in lieu of providing <br />affordable units. <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 $9.24 per square foot of finished market -rate for -sale housing, <br />and $4,90 $4.72 per square foot of finished market -rate rental <br />housing. The fee in lieu of providing any required fraction of a unit <br />shall be pro -rated based on its proportional share (fractional quantity <br />divided by total number of units required) of the amount of fee in <br />lieu that would be required for the whole development. The City <br />Manager shall periodically recalculate the fee in lieu and present the <br />recalculation to the City Council. <br />2. Timing of payment. A developer or builder shall pay the fee in lieu <br />for each market -rate unit as a prerequisite for receiving the building <br />Ordinance No. 1809, Series 2021 <br />Page 6 of 15 <br />