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IX <br />V4 <br />San Joaquin Hills <br />AOB (Zone B): <br />(5,000 s.f. x <br />$1.30 /s.f.) <br />_ $ <br />6,500 <br />Total fee for <br />development if <br />located in Zone <br />A of SJHTC AOB <br />= $ <br />6.500 <br />Foothill /Eastern <br />AOB (Zone A): <br />(5,000 s.f. x <br />$1.80 /s.f.) <br />_ $ <br />91000 <br />Total fee for <br />development if <br />located in Zone A of Foothill/ <br />Eastern AOB <br />= $ <br />9.000 <br />u 's_ • <br />Fees may be deferred by the Parties for residential <br />multi -unit rental projects or projects which include <br />State or Federal requirements to provide units affordable <br />to families with incomes less than 80% of the median <br />income (Section VIII housing). The deferral may be for a <br />period of five years from the issuance of building <br />permits or the period of the State /Federal funding <br />requirements beginning upon issuance of the first <br />building permit. The fees to be paid shall be those in <br />effect at the time of payment and shall be secured by an <br />agreement and renewable letter of credit held by an <br />escrow company, or cash or time certificate of deposit in <br />the amount of fees plus 15 percent in anticipation of <br />inflationary increases. <br />The enabling ordinance provides for collection of fees as <br />a condition of final map approval or issuance of building <br />permits. Fees shall be collected prior to issuance of <br />all building permits for new residential structures and <br />commercial /industrial structures which establish new and <br />enlarged floor space. Fees will not be required for <br />remodeling or reconstructing existing structures to the <br />same number of residential dwelling units or equal <br />commercial building area. Fees will not be required for <br />construction of retaining walls, patio covers, swimming <br />pools or other non inhabitable residential structures. <br />-30- <br />