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lowest, generally available interest rate for a <br />thirty-year fixed mortgage on September 1 of each <br />year. <br />Section 3 Chapter 11, Section 11-5 (c)(2)(A), of the Hawai':_ County <br />Code 1983 (1995 Edition) is amended to read as follows <br />Section 11-5. Requirements for rezoning involving resorts and <br />industrial uses. <br />(c) Satisfaction of these requirements will be accomplished <br />through the use of the following alternatives. <br />(2) In -lieu of the provision of affordable housing units, <br />the affordable housing requirement may be satisfied <br />in the following ways, the value of which shall be <br />based upon a calculation of in -lieu fees for a <br />particular rezoning <br />(A) Payment of in -lieu fees These fees are <br />calculated by determining the amount of subsidy <br />required to provide housing units affordable to <br />the targeted income groups. The in -lieu fee <br />amount averaged for the various groups to be <br />served, amounts to [$4,720] $11,940 per <br />affordable unit required in [1997] 2000 dollars <br />The in -lieu fee amount may be updated by the <br />Hawai'i County Housing Agency on an annual <br />basis The in -lieu fee amount shall be <br />calculated based on the lowest, generally <br />available interest rate for a thirty-year fixed <br />mortgage on September 1 of each year <br />0959hes( <br />