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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, when 12% affordable housing <br />is required, the fee in lieu is set initially at $9.24 per square foot of <br />finished market -rate for -sale housing, and $4.72 per square foot of <br />finished market -rate rental housing. When 30% affordable housing <br />is required, the fee in lieu is set initially at $23.11 per square foot of <br />finished market -rate for -sale housing, and $10.67 per square foot of <br />finished market -rate rental housing. The fee in lieu of providing any <br />required fraction of a unit shall be pro -rated based on its proportional <br />share (fractional quantity divided by total number of units required) <br />of the amount of fee in lieu that would be required for the whole <br />development. The City Manager shall periodically recalculate the <br />fee in lieu and present the 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 />permit for that unit. The fee paid shall be the fee in effect at the time <br />of the submittal of a complete building permit application for the <br />development, whichever is later. <br />C. Off -site location. A developer or builder may seek to provide <br />affordable units within the City in a different location than the development of the <br />market -rate units. <br />Ordinance No. XXXX, Series 2022 <br />Page 6 of 15 <br />26 <br />