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EXHIBIT 1 3 to 19 dwelling units) at a fee of $17.83 per square foot, The impact fee does not apply to for -sale unit developments. San Francisco Inclusionary Housing Program Background: San Francisco has had an inclusionary housing program since 1992, which was discretionary up until 2002. It was recently amended in the fall of 2017 and is currently transitioning to becoming fully operational by 2028. Base Rec;W ment: All residential development projects that are at least 10 units pay an Affordable Housing Fee. The Affordable Housing Fee is different for each unit type. The fee is calculated by multiplying the fee per unit (i.e. a one -bedroom unit has a fee of $268,960) by the number of units of that type in the project, times the fee rate. The fee rate is 30% or 33% since it reflects the off - site affordable unit percentage requirement for either rental units or for -sale units, Alternatives: As an alternative to paying the fee, a developer can construct affordable units on or off -site of the residential development. Affordability requirements vary depending upon the size of the project and whether the units are for -sale or for rent. These requirements are summarized in Table 2 below. On -site: The city is currently phasing in increases to affordable housing obligations for on -site projects. For small for -sale and rental unit projects (10 to 24 units), the number of affordable units required to be constructed on the project site is 12.5% of all units and must be available for low- income households. This percentage will be increased annually until it reaches 15% in 2024, For large projects (25 writs or more), 21% of all units within for -sale unit projects must be affordable, with certain proportions targeting low-income households, moderate -income households, and middle -income households. For rental unit projects, 19% of all units are required to affordable, with a breakdown similar to for -sale units. Off -site: If developers elect to construct affordable units at a different site than the development, the affordability obligation increases from 12% to 20% for small projects, For large for -sale unit projects, the required number of affordable units is 33% of all writs in the development, broken down by low-income, moderate -income, and middle -income households. Similarly, 30% of all units within a rental unit project are required to be affordable with a comparable breakdown by household income. The following table summarizes the details of San Francisco's Inclusionary Housing Program. 7 M•