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<br />Ordinance No. NS-XXX <br />Page 8 of 18 <br />substantially rehabilitating existing housing units elsewhere within the borders of the city <br />at a rate of one and one-half (1½) habitable square feet per each required habitable <br />square foot of inclusionary units. <br /> <br />(3) Rehabilitated units within a designated target area. Upon application, the <br />developer may satisfy the inclusionary unit requirements for the project, in whole or in <br />part by substantially rehabilitating existing housing units elsewhere within the borders of <br />the city at a rate of one habitable square foot per each required habitable square foot of <br />affordable inclusionary units. <br /> <br />(c) In-lieu fee. <br />(1) More than twenty (20) units. A residential project comprised of more than twenty <br />(20) residential lots or residential units, the developer may elect to satisfy the <br />inclusionary unit requirements for the project, in whole or in part, by payment of <br />a fee in lieu of constructing some or all of the required units. The amount of the <br />fee allowed by this section shall be five dollars per square foot ($5.00/ft.2 ) of the <br />sum total of the number of habitable square feet within the entire project, as <br />measured from the exterior walls of the residential units. This calculation does <br />not include exterior hallways, common areas, landscape, open space or exterior <br />stairways. <br />(2) Entitled residential projects. The applicant(s) of an entitled residential project <br />(see Exhibit A) may either construct the inclusionary units or pay an in lieu fee <br />as follows: <br />(i) Twenty (20) or fewer units. In the case of an entitled residential project containing <br />between five (5) and twenty (20) <br /> (1) Five (5) or more units. For a residential project comprised of five (5) or more <br />residential lots or residential units, the developer may elect to satisfy the inclusionary unit <br />requirements for the project, in whole or in part, by payment of a fee in -lieu of constructing <br />some or all of the required units. The total amount of the fee allowed by this section shall <br />be five dollars per square foot ($5.00/ft.) ofcalculated using the In-Lieu Fee Schedule in <br />section 41-1904(c)(1)(i) multiplied by the sum total of the number of habitable square feet <br />within the entire project, as measured from the exterior walls of the residential units. This <br />calculation does not include exterior hallways, common areas, landscape, open space or <br />exterior stairways. <br />(ii) More than twenty (20) units. In the case of an entitled residential project <br />comprised of more than twenty (20) residential lots or residential units, the <br />developer may elect to satisfy the inclusionary unit requirements for the project, <br />in whole or in part, by payment of a fee in lieu of constructing some or all of the <br />required units. The amount of the fee allowed by this section shall be five dollars <br />per square foot ($5.00/ft.) of the sum total of the number of habitable square <br />feet within the entire project, as measured from the exterior walls of the <br />residential units. This calculation does not include exterior hallways, common <br />areas, landscape, open space or exterior stairways. The in lieu fee amount <br />allowed herein by this subsection shall revert to fifteen dollars per square foot <br />($15.00) on October 1, 2021 for any construction which adds net residential