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ARTICLE 2 <br />INCLUSIONARY HOUSING COVENANTS <br />E. Developer Compliance with the Ordinance <br />The Developer acknowledges that the City has provided the Developer with <br />copies of the Ordinance and the Administrative Procedures Manual. The <br />Developer is familiar with the requirements of all the foregoing documents and <br />shall ensure that the Project complies in all material respects with this <br />Inclusionary Housing Agreement and the requirements set forth in all the <br />foregoing documents. <br />II. In -Lieu Fee <br />Developer's payment of the in lieu fee shall be paid in phases consistent with the <br />phases of development set forth in Section 5.8 of the Project's Development <br />Agreement. The Developer shall pay the applicable in lieu fee for each phase of <br />the Project, based on the habitable space within that phase of the Project, prior <br />to the issuance of the first building permit for that phase of the Project. <br />Specifically, the Developer will comply with the Housing Opportunity Ordinance <br />by paying an in lieu fee of $9.35 per habitable square foot. The current estimate <br />of the fee that will be paid for each phase and the total fee is indicated in the <br />table below. The actual final in lieu fee amount for each phase will be <br />determined at the time of payment for that phase based on the habitable square <br />footage indicated on the final plans for that phase. <br />Project Phase <br />Estimated Fee <br />Phase 1 <br />$2,700,000 <br />Phase 2 <br />$3,250,000 <br />Phase 3 <br />$3,745,725.60 <br />TOTAL" <br />$9,695,725.60 <br />Inclusionary Housing Agreement - In -Lieu Fee Payment Page 8 <br />City of Santa Ana <br />