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Exhibit 3 - Redline Draft <br />3. Rehabilitated units within a designated target area. Upon application, the developer may satisfy <br />the inclusionary unit requirements for the project, in whole or in part by substantially rehabilitating <br />existing housing units elsewhere within the borders of the city at a rate of one habitable square <br />foot per each required habitable square foot of affordable inclusionary units. <br />(c) In -lieu fee. <br />(1) More than twenty (20) units. A residential project comprised of more than twenty (20) residential <br />lots or residential units, the developer may elect to satisfy the inclusionary unit requirements for <br />the project, in whole or in part, by payment of a fee in lieu of constructing some or all of the <br />required units. The amount of the fee allowed by this section shall be fire Fe dollars per square <br />foot ($515.001ftr" j-) of the sum total of the number of habitable square feet within the entire <br />project, as measured from the exterior walls of the residential units. This calculation does not <br />include exterior hallways, common areas, landscape, open space or exterior stairways. <br />(2) €eaiw6 a i�Fget€iErkET�B/9 t I1[uiliLLOLI.t�lLrtTt.2pLThe �pb VdeF e Iolal <br />fee amount fortheantiretvnfa roect'---�-_ _t. <br />dr ekus or a*y trriFregt irerr errtrfoFtk e projee�irw�hole eee-it lieu <br />wkrieFreadd rnet-residerrf ial-rrrrit�-avkricl-rFierreitq-appr�roe�crtrtttl�rr�rtS-tF�rT-Fps-r-reT-bec� <br />i�gErBheat aP the tune of isaianre of the first building permit <br />NOW <br />�'.rrrrrir7g�o�pEryrnerTi—The-devefaPer�iraFl-palrthe-fD[_ll1�pr4icc:f. The drvclonrr skull p�v all in - <br />lieu fees allowed by this section for the enure nroiect prior to issuance of the1c#twr fir..t <br />QGGUDaMC,Yr v I for any construction which adds net residential units. <br />The in lieu fees collected by the city are city funds over which the city <br />has complete and absolute discretion. <br />(4-3) Inclusionary housing fund. Fees collected in compliance with this section shall be deposited in <br />the inclusionary housing fund. <br />( Ord. No. NS-2881. § 2. 9-1-15 ; Ord. No. NS-2994 , 5 3, 9-1-20) <br />Sec. 41-1904.1. - Inclusionary housing development incentives for production of units. <br />City Council 28 - 57 71612021 <br />