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Slide 48 Related Bristol Specific Plan <br />Item No. 22 <br />Planning and Building Agency <br />September 17, 2024 <br />Key Terms (Continued) <br />•Inclusionary Housing –Payment of $5 per sq. ft. of habitable space, contingent <br />upon timely payment of the $22,000,000 Community Benefit Payment. <br />–Pursuant to SAMC Sections 41-1903(a), the applicant has proposed a DA to comply with <br />Section 41-1904, allowing payment of in-lieu fees. <br />–SAMC Section 41-1904 provides for options to satisfy the Affordable Housing <br />Opportunity and Creation Ordinance, including onsite units, offsite units, and payment of <br />in-lieu fees. <br />–For projects containing 20 or more units, the in-lieu fee is as high as $15 per sq. ft., but <br />may be as low as $5 per sq. ft. if determined by a DA or if using skilled and trained <br />workforce. <br />–The Agreement clearly states that should the senior continuum of care units be <br />converted to standard residential units, these units would be subject to the inclusionary <br />housing requirements under the Agreement and would be required to pay the $5 per <br />square foot of habitable residential area in-lieu fee. <br />–A payment of $5 per sq. ft. of habitable space is estimated to produce up to $18,000,000 <br />in in-lieu funds for use throughout Santa Ana to produce inclusionary housing.