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The Current Proposal's Financial Impacts
<br />Our review of publicly available reports show a $25,263,001 decline in in -lieu fees from
<br />`pipeline' (currently approved) projects and $15,133,310 from anticipated projects. It is
<br />important to note that some of these pipeline projects are already exempt from the HOO and that
<br />the number of exempt anticipated projects will grow under the proposed revisions.
<br />Pipeline Projects
<br />Project
<br />Current HOO In -lieu
<br />Proposed HOO
<br />Difference
<br />Fee Estimate
<br />In -lieu Fee Estimate
<br />Mainplace
<br />$20,776,500
<br />$6,925,500
<br />Redevelopment'
<br />[$15 Sq. Ft.]
<br />[$5 Sq. Ft.]
<br />$13,851,000
<br />The Legad02
<br />$0
<br />$0
<br />$0
<br />$3,334,000
<br />$1,111,333
<br />The Madison
<br />[$15 Sq. Ft.]
<br />[$5 Sq. Ft.]
<br />$2 222,667
<br />$2,813,000
<br />$937,666
<br />Legacy Sunflower
<br />[$15 Sq. Ft.]
<br />[$5 Sq. Ft.]
<br />$1,875,33
<br />2 units and
<br />2 units and
<br />Hapham Residential
<br />$34,000
<br />$34,000
<br />$0
<br />[$5 Sq. Ft.]
<br />[$5 Sq. Ft.]
<br />$3,930,000
<br />$3,930,000
<br />$0
<br />One Broadway Plaza
<br />[$15 Sq. Ft.]
<br />[$15 Sq. Ft.]
<br />$3,291,000
<br />$1,097,000
<br />Toms Trucks
<br />[$15 Sq. Ft.]
<br />[$5 Sq. Ft.]
<br />$2,194,000
<br />$7,680,000
<br />$2,560,000
<br />Wermers
<br />[$15 Sq. Ft.]
<br />[$5 Sq. Ft.]
<br />$5,120,000
<br />1 unit and
<br />1 unit and
<br />West 5th Villas
<br />$14,500
<br />$14,500
<br />$0
<br />[$5 Sq. Ft.]
<br />[$5 Sq. Ft.]
<br />TOTAL
<br />$41,873,000
<br />$16,609,999
<br />$25,263,001
<br />Estimate based on 1,900 units meeting the regional average size of 729 sq. ft for new apartment units.
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