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HOUSIIdG § 11-5 (2) In lieu of the provision of affordable housing amts, the affordable housing requirement may be • satisfied in the following ways, the value of which shall be based upon a calculation of in-lieu fees for a particular rezoning: (A) Payment of in-lieu fees These fees are calculated by determining the amount of subsidy required to provide housing amts affordable to our target groups. The in-lieu fee amount, averaged for the venous target groups to be served, amounts to four thousand seven hundred twenty dollars per affordable unit regwrcd m 1997 dollars The in-lieu fee amount may be updated by the County housing agency on an annual basis. The in-lieu fee amount shall be calculated based on the lowest, generally available interest rate for athirty-year fixed mortgage on September 1 of each year. (B) Provision of developable land. The amount of land required will be determined by an assessment of value (by appraisal) of that contribution measured against the projected in-lieu fee value that would otherwise have been required. (C) Provision of mfrestructure/seivices. Contnbutions of infrastructure and semces may be accepted to satisfy affordable housing regmrements The mfrastrocture or sernces provided must be directly related to the provisions for affordable housing units. The value of the contribution will be measured against the in-lieu fee amount that would otherwise have been regwted as the basis for allocating credit (D) Any other means which are approved by the County housing agency. (d) An implementation plan to satisfy affordable housing requirements shall be approved pnor to or m conjunction with the development of new resort or industrial facilities which will generate employment 'Ilse County housing agency shall determine the implementation period based upon the specific circumstances of each case and prevalent economic and regional housing conditions. (1998, Ord. No. 98-1, sec. 2.) • Section 11-6. Waiver of edditlonal requirements. Additional affordable housing requrements for rezoning of off-site property for the development of affordable units in satisfaction of existing affordable housing requirements shall be waived, provided that the parcel is utilized exclusively for the provision of affordable units Additional market rate units produced on such parcel will be assessed based on the provisions outlined in Section 11~(a) above. (1998, Ord. No 98-1, sec. 2.) Section 11-7. Section 201E projects. The County's exemption authonty, as contained in HRS 201E, may be utilized to expedite change of zone requests, subdivision applications, and plan review as well as the consideration of reduced development standards (1998, Ord No 98-1, sec 2.) Section Il-8. Effect on existing requirements. This policy supersedes all previous affordable housing requirements. Any affordable housing condition or portion thereof in a prior rezoning ordinance which has not been fully satisfied as of the effective date of this policy may be re-assessed, to the extent it has not been fully satisfied, pursuant to this policy upon the initiation of the person or entity which rs legally required to satisfy such condition. However, in no event shall the County of Hawaii reimburse or be obligated to reimburse any person or entity for the partial or full satisfaction of an affordable housing condition m any ordinance which became effective prior to the effective date of this policy. (1998, Ord No. 98-1, sec. 2 ) • 11-5 tiw.~~ sir si-ssi