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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 required in 1997 <br />dollars. The in -lieu fee amount may be updated by the County <br />Housing Agency on an annual basis. The in -lieu fee amount shall <br />be calculated based on the lowest, generally available interest <br />rate for a thirty-year fixed mortgage on September 1 of each <br />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 />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 />Housing Agency. <br />0749H.DKL/12-15-97 - 5 - <br />