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(1) Payment of in-lieu fees. These fees are <br /> calculated by determining the amount of subsidy required to <br /> provide housing units affordable to the targeted income groups. <br /> The in-lieu fee amount, averaged for the various target groups to <br /> be served, amounts to [ 4 720] per affordable unit <br /> required in 1997 dollars. The in-lieu fee amount may be updated <br /> by the County Housing Agency on an annual basis. The in-lieu fee <br /> amount shall be calculated based on the lowest, generally <br /> available interest rate for a thirty-year fixed mortgage on <br /> September 1 of each year. <br /> (2) Provision of affordable housing units on property <br /> other than the land which has been the subject of the rezoning. <br /> (3) Provision of developable land. The amount of land <br /> required will be determined by an assessment of value (by <br /> appraisal) of that contribution measured against the projected <br /> in-lieu fee value that would otherwise have been required. <br /> (4) Provision of infrastructure/services. <br /> Contributions of infrastructure and services may be accepted to <br /> satisfy affordable housing requirements. The infrastructure or <br /> services provided must be directly related to the provisions for <br /> affordable housing units. The value of the contribution will be <br /> <br /> measured against the in-lieu fee amount that would otherwise have <br /> been required as the basis for allocating credit. <br /> (5) Any other means which are approved by the County <br /> <br /> Housing Agency. <br /> 0]49H.DKL/12-15-9] - 5 <br /> <br />