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ATTACHMENT 3
<br /> The history of the fee from its initial adoption in 1978 to the present is summarized in Table A:
<br /> TABLE A:
<br /> HISTORY OF THE LOWER INCOME HOUSING FEE
<br /> (1978 TO PRESENT)
<br /> SF Resid MF Resid COI
<br /> (per unit) (per unit) (per sq.ft.)
<br /> 1978 $400 $400 NA
<br /> 10/16/1990 * $1,800 $600 $0.40
<br /> 1994 $1,903 $634 $0.42
<br /> 1995 $1,954 $651 $0.43
<br /> 1996 $1,989 $663 $0.44
<br /> 1997 $2,044 $681 $0.45
<br /> 1998 $2,122 $707 $0.47
<br /> 1/3/1999* $2,756 $919 $0.48
<br /> 2000 $2,888 $963 $0.50
<br /> 2001 $3,023 $1,008 $0.52
<br /> 2002 $3,160 $1,054 $0.54
<br /> 2003 $3,203 $1,068 $0.55
<br /> >1,500sf <=1,500sf
<br /> 5/20/2003* $8,650 $2,144 $2,144 $2.28
<br /> 2004 $8,739 $2,166 $2,166 $2.31
<br /> 2005 $8,917 $2,210 $2,210 $2.36
<br /> 2006 $9,166 $2,272 $2,272 $2.44
<br /> 2007 $9,393 $2,328 $2,328 $2.49
<br /> 2008 $9,702 $2,405 $2,405 $2.57
<br /> 2009 $10,053 $2,492 $2,492 $2.66
<br /> 2010 $10,063 $2,494 $2,494 $2.66
<br /> 2011 $10,155 $2,517 $2,517 $2.68
<br /> 2012 $10,382 $2,573 $2,573 $2.74
<br /> 2013 $10,713 $2,655 $2,655 $2.83
<br /> (*)Major adjustments to the LIHF were implemented in 1990, 1999, and
<br /> 2003 following updated nexus studies.A new nexus study is currently
<br /> under way in 2013.
<br /> Lower Income Housing Fund Revenues
<br /> The fee amounts listed in Table A have been applied to all new residential development since 1978
<br /> (and starting in 1990, all commercial, office, and industrial development) resulting in annual revenue to
<br /> the Lower Income Housing Fund. The annual running balance in the LIHF (based on annual revenues
<br /> and expenditures) is summarized in Table B below:
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