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2. Rehabilitated units outside a designated target area. The developer may satisfy the inclusionary unit requirements for the project, in whole or in part by substantially rehabilitating existing housing units elsewhere within the borders of the city at a rate of one and one-half (1'/2) habitable square feet per each required habitable square foot of inclusionary units. 3. Rehabilitated units within a designated target area. Upon application, the developer may satisfy the inclusionary unit requirements for the project, in whole or in part by substantially rehabilitating existing housing units elsewhere within the borders of the city at a rate of one habitable square foot per each required habitable square foot of affordable inclusionary units. (c) In -lieu fee. (1) AAere than twenty —Five (28J or more units. For aA residential project comprised of five (5) or more than twenty "^` residential lots or residential units, the developer may elect to satisfy the inclusionary unit requirements for the project, in whole or in part, by payment of a fee in -lieu of constructing some or all of the required units. The total amount of the fee allowed by this section shall be calculated using the In -Lieu Fee Schedule as shown below in section 41-1904(c)(1)(i) multiplied by five dollars per square feet ($5 nnitt --}- the sum total of the number of habitable square feet within the entire project, as measured from the exterior walls of the residential units. This calculation does not include exterior hallways, common areas, landscape, open space or exterior stairways. (i) In-1 ipu FPP SChpritilp L._I i C.... C.. ed le Units Fee Per Square Foot of Habitable Area 5-9 6.00 10 — 14 9.00 15 — 19 112.00 20 or more $15.00 .. . e . ..- -. •- -• .MMff'P1M1kW7_Tarr."M .. Ordinance No. NS-XXX Page 8 of 16 City Council 1 — 22 7/26/2021