Laserfiche WebLink
3) Each agricultural development right which is acquired shall entitle the developer to 5,000 square feet of <br /> additional floor area. <br /> 4) In order to implement this program cooperatively with Snohomish County,the city of Everett adopts <br /> Chapter 365-198 of the Washington Administrative Code,as now or hereafter amended, by reference. <br /> G. Fee-in-Lieu-of Program. <br /> 1) When Allowed.Where a fee in-lieu-of is allowed,the determination of the fee must follow the <br /> requirements set forth in subsection 2 below. <br /> 2) Fee Calculation. <br /> a) The in-lieu-of fee is based on the bonus provided. For example, if a developer wishes to pay an in- <br /> lieu-of fee to support two(2)floors of affordable housing in return for four(4) bonus floors,the fee is <br /> based on the 2 floors of affordable housing. <br /> b) The in-lieu-of fee,as of July 1, 2018, is based on the zoning designation and values set forth below. <br /> The fee will be adjusted annually based on the adjustment process set forth in EMC 16.72.020. <br /> i. Urban Mixed Zone: $7.50 per square foot <br /> ii. Urban Light Industrial Zone: $6.00 per square foot <br /> iii. Urban Residential Zone: $5.00 per square foot <br /> Fee calculation example#1:A developer wishes to provide a fee in-lieu-of providing affordable housing in <br /> the Urban Mixed Zone.The developer wishes to support 2 floors of affordable housing,which would <br /> provide a height bonus of 4 additional floors.The floorplates of the upper floors are 7,500 square feet. <br /> The in-lieu-of fee would be$112,500 based on 2018 rates.(2 x 7,500 x$7.50=$112,500) In this example, <br /> the developer would have four(4)additional floors, or 30,000 square feet of gross floor area in exchange <br /> for an affordable housing fee of$112,500. <br /> Fee calculation example#2: A developer wishes to build one additional floor and provide to the city's <br /> public art fund.The gross floor area of that incentive floor is 7,500 square feet.The in-lieu-of fee would be <br /> $56,250 based on 2018 rates. (7,500 x$7.50=$56,250) <br /> 3) City Funds.Any fees accepted by the city shall be deposited into city funds to be used for the purpose for <br /> which they were deposited.The city will annually account for the deposit and expenditure of the funds <br /> provided in-lieu-of the developer providing the required benefit. <br /> Exhibit 2,Chapter 20,Development Standards 35 8/29/18 <br />