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filJ71011blvel *14,11-311111f <br />IN -LIEU FEE ANALYSIS <br />RENTAL RESIDENTIAL DEVELOPMENT <br />HOO: IN -LIEU FEE ANALYSIS <br />SANTA ANA, CALIFORNIA <br />1 ow Income 1 ow Income <br />L Rent Difference <br />A. Studio Units <br />Market Rate Ilnits <br />$7 47f1 <br />57,470 <br />Affordable Units <br />876 <br />1,063 <br />Difference <br />51,544 <br />$1,358 <br />e. One -Bedroom Units <br />Market Rate Units <br />$2,600 <br />$2,500 <br />Affordable Units <br />1,000 <br />1,213 <br />Difference <br />51,600 <br />$1,387 <br />C. Two -Bedroom Units <br />Market Ratn Units <br />$2,930 <br />$2,930 <br />Affordable Units <br />1,111 <br />1,351 <br />Difference <br />51,719 <br />$1,470 <br />D. Three -Bedroom Units <br />Market Rate Units <br />$3,750 <br />$3,750 <br />Affordable unils <br />1,770 <br />1,4A/ <br />Difference <br />$7,53n <br />57,764 <br />II. Distribution of Total Units ' <br />Studio Units <br />25% <br />25% <br />One Bedroom UNLS <br />3S% <br />35•Y <br />I wo-Bedroom Units <br />3S'Yn <br />3h"/n <br />Three -Bedroom Units <br />51/ <br />5% <br />III. Annual Affordability Gap Per Inclusionary, Unit <br />$20,093 <br />$17,468 <br />Less: Property Tax Difference <br />(4,660) <br />(4,050) <br />Annual Affordability Gap Per Incuslonary, Unit <br />$15433 <br />$1341A <br />IV. Net Affordability Gap Per Inclusionary Unit ° <br />5333,000 <br />$289,000 <br />V. In -Lieu Fee <br />Per TOLal Un1L in Lhe Project <br />$16,700 <br />$17,300 <br />Per Square Foor of Leasable Area ° <br />$17A0 <br />$17.80 <br />The market rents are drawn from the pro forma analyses (See APPENDIX A - EXHIBIT 1). The Affordable Rents are <br />based on the H&SC Section 50D53 calculation methodology. (See APPENDIX B EXHIBIT I). <br />Based on Lhe unit ml. disLribuLion applied in Lhe pro forma analysis. <br />Based Oil the rent differential capitalized at A S.0% rate to estahlish the value, and a 1.16% property tax rate. <br />4 Based on the Annual Affordability Gap Per Inclusiondry Unit capitalized at the I hreshold Return on total Investment. <br />s Rased on the Affordability Gap Per Inclusionary Unit multiplied times the Inclusionary Housing Percentage. <br />" Based on the Affordability Gap Per Inclusionary Unit divided by the average leasable area per unit. <br />Prepared by: Keyser YMAy r.M1dur A 28 - 28 7/6/2021 <br />File name b 24 21 SA 100 RcnL, Foe ✓age g of g <br />