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AOVISOft S IN PUB LIC/P21VAII ItIAI LSIA[[ DIV[IOPM[NI <br />MEMORANDUM <br />A6V6kik,i . <br />Real Lnacc <br />To: <br />Judson Brown, Housing Division Manager <br />Attnrdable Hnuwg <br />E,L,nQ„11iLDe1e10hr„rr1, <br />City of Santa Ana <br />try <br />From: <br />Kathleen Head <br />A. leRy KeySzr <br />Keyer <br />Timothy C. Ke'.,'...y <br />Dcbbic N'.._ Kcrn <br />David Dnezema <br />Date: <br />June 28, 2021 <br />Kevin Feeney <br />1_0S AQ1;f YJN <br />Kathiccn H. Hcad Subject: Housing Opportunity Ordinance: Updated In -Lieu Fee Analysis <br />hvie> A. R„I,e <br />Gregory D. Soo-Hoo <br />Kw n [ m ["npy <br />I�lie I Rney At your request, Keyser Marston Associates, Inc. (KMA Updated our May 2020 financial <br />Tim R. Breu analysis of the in -lieu fee that can be supported by residential development that is <br />3AN Deec<4 subject to the City of Santa Ana (City) Housing Opportunity Ordinance (Ordinance). The <br />Paul C. Marra <br />following memorandum describes the methodology and assumptions that KMA used in <br />preparing the analysis. <br />The results of the following analysis can be summarized as follows: <br />Supportable In -Lieu Fee: Housing Opportunity Ordinance Update <br />Rental Residential Development <br />Ownership Housing Development <br />.I/"r)n::Y"61f(rt,...RwA <br />'Ai: <br />$17.10 to $17.80/Sq. Ft. of Leasable Area <br />$13.00/Sq. Ft. of Saleable Area <br />The Ordinance was originally adopted by the City Council on November 28, 2011. The <br />Ordinance has been amended multiple times; the most recent modifications were <br />adopted in September 2020. The Ordinance imposes inclusionary housing requirements <br />on residential development that embodies any of the following characteristics: <br />City Council ' 28 - 6 217JkQQA1i <br />W W W.KEVSERMARSTON COM 19090.017.021 <br />