Construction Alternatives

• conversion to affordable housing
• credit transfer
• in-lieu fee
• land dedication
• off-site construction

In-Lieu Fee Structure: formula

The amount of the in-lieu fee for each required inclusionary unit shall be determined by the director of housing and neighborhood services at the time of issuance of building permits for the first residential units in a development project based on: The median sales price of homes sold in the City of Oceanside based on the last quarter of the calendar year prior to the year in which the building permit is issued minus The maximum affordable sales price for a three-bedroom unit as defined in section 14C.4(a)(1). However, the area median income figures in effect during the last quarter of the calendar year prior to the year in which the building permit is being issued shall apply. (Median sales price of new home - affordable three-bedroom sales price = in-lieu fee). To obtain the per unit in-lieu fee the entire in-lieu fee shall be divided by the total number of units in the project. If the in-lieu fee option is chosen to comply with this chapter, in whole or in part, the per unit in-lieu fee shall be paid for each unit that a building permit is issued."