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Table 1: Proposed Housing Fees Unit Plan Type Plan Size (S.F.) Current Affordable Housing Fee per Unit Affordable Housinq Total Amount Per Unit (Total of Affordable Housing Fee plus Affordable Housing Contribution Contribution per Unit based on design plan 1 3,354 $11,939 $18,200 $30,139 2 3,690 $11,939 $20,344 $32,283 3 3,838 $11,939 $21,047 $32,986 4 4,072 $11,939 $23,080 $35,019 5 3,206 $11,939 $16,724 $28,663 The payment of the LIHF and the affordable housing contribution as well as the construction of Accessory Dwelling Units on at least twenty percent of the units will be in lieu of providing price restricted affordable housing on or off of the property or any other affordable housing program and would fully meet the developer's affordable housing obligation for this project. The total LIHF paid and Affordable Housing Contribution would be calculated once the final total number of units is determined. It is important to note that while the LIHF is required by City ordinance to be placed in the City's Lower Income Housing Fund and used in accordance with the terms of that fund, this requirement is not applicable to the Affordable Housing Contribution. City Council may appropriate these funds to a use that it deems best meets the City's needs; however, Staff will recommend that the City Council appropriate this Affordable Housing Contribution to the Lower Income Housing Fund. As stated earlier, staff is recommending the Housing Commission approve the Spotorno Ranch Project Affordable Housing Agreement. In accordance with the IZO, the Commission may accept, reject or modify the recommended agreement. Following the Commission's action, staff will forward its recommendation to the City Council concurrent with and as part of its review of the proposed Planned Unit Development. Page - 5 -