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EXHIBIT 4 Affordability requirements: The ordinance states that multi -dwelling development projects constructed for fee credit may contain any proportion of affordable dwelling units. Affordable units must be targeted to low-income households earning up to 80% of AMI. It also provides that the maximum number of affordable dwelling units in a multi -unit residential development project is 150. Fee: The fee is $2.85 per square foot for housing units up to a certain density. For multi -unit dwellings, the fee is reduced to $0 at 40 dwelling units per acre, with the intent to incentivize such development. Dwelling units located in a specified Housing Incentive Zone are charged $1.23 per square foot. The fee is adjusted annually for inflation. Exem to ion: The ordinance exempts various development projects from paying the impact fee, including projects in which at least 10% of the dwelling units are affordable for a duration of no less than 30 years. Impact: According to the most recent annual report on the Mixed Income Housing Ordinance, $1.7 million in fees and interest have been collected since the implementation of the ordinance in 2015. There have not been expenditures on development of affordable housing yet." City of Oakland Affordable Housing Impact Fee Background: The Oakland City Council adopted development impact fees for affordable housing, transportation, and capital improvement in May 2016 and they went into operation in September of that year. The Affordable Housing Impact Fees are being phased in over three years 12 which will largely be completed by fiscal year 2019. The impact fee is intended to compensate for the increased demand for affordable housing generated by market -rate residential development projects within the City of Oakland. Base Requirement: As a condition of a building permit for new housing units, the developer must pay the impact fee or provide affordable housing units on-site or off-site of the project. Fee: The fee varies by housing type and in which of the three "impact fee zones" the project takes place. The payable fee is the product of the fee per housing unit, and the number of additional housing units. The bottom of the range for the fee per housing unit in Table 3 reflects the zone that has the most affordable housing costs, while the top end of the range reflects areas that are the most expensive. Zone 2 lies between these figures. 11 City of Sacramento City Council Report, Annual Reports of the Housing Trust Fund, Mixed Income Housing Ordinance, and HOME Investment Partnerships Program, June 26, 2018, http://sacramento.granicus.com/MetaViewer.phhp?view id=21&event id=3250&meta id=527433. 12 City of Oakland Transportation, Capital Improvements, and Affordable Housing Impact Fees Summary, ham://www2.oaklandnet.com/oakeal /groups/ceda/documents/report/oak063468.pddf 9 65B-21