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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 l of each <br />year. <br />(B) Provision of developable land. The amount of <br />land 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 />(C) 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 />(D) Any other means which are approved by the <br />County Housing Agency. <br />(d) An implementation plan to satisfy affordable housing <br />requirements shall be approved prior to or in conjunction with <br />the development of new resort or industrial facilities which will <br />generate employment. The County Housing Agency shall determine <br />the implementation period based upon the specific circumstances <br />of each case and prevalent economic and regional housing <br />conditions. <br />0749H.DKL/12-15-97 -8- <br />