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APPENDIX B - TABLE 2 <br />IN -LIEU FEE CALCULATION WORKSHEET <br />RENTAL PROJECTS - 5% LOW INCOME & 0% MODERATE INCOME INCLUSIONARY REQUIREMENT <br />INCLUSIONARY HOUSING IN -LIEU FEE METHODOLOGY <br />SANTA ANA, CALIFORNIA <br />IV. Project Value Comparison <br />A. Rent Income <br />Market Rate Units <br />Studio Units <br />One - bedroom Units <br />Two - bedroom Units <br />Three - bedroom Units <br />Very-Low Income Rents <br />Studio Units <br />One - bedroom Units <br />Two - bedroom Units <br />Three - bedroom Units <br />Low Income Rents <br />Studio Units <br />One - bedroom Units <br />Two - bedroom Units <br />Three - bedroom Units <br />Total Rent Income <br />B. Effective Gross Income <br />Total Rent Income <br />(Less) Vacancy Allowance <br />Effective Gross Income (EGI) <br />V <br />C. Operating Expenses (Excluding Debt Service) <br />General Operating Expenses <br />Property Taxes <br />Total Operating Expenses <br />D. Net Operating Income (EGI - Expenses) <br />E. Project Value <br />Net Operating Income <br />Capitalization Rate <br />Total Project Value <br />Total In -Lieu Fee 3 <br />Per Total Unit <br />Per Income Restricted Unit <br />Per Square Foot of Total Building Area <br />Project with <br />100% @ Market Inclusionary <br />Rent Standards Difference <br />The Total In -Lieu Fee is equal to the difference between the project's value with 100% market rents and the value with the <br />inclusionary housing obligation. <br />Prepared by: Keyser Marston Associates <br />Filename: SA In -lieu Fee_6_7_11; APP B2 75B-20 Page 3 of 7 <br />