Fee-in-lieu Calculations_examples 7.21.26

Extracted text

Project Name
Project Address
Aff'd
BR Size # Units Units Fee/Unit Fee/Month
Studio 0 0 204$ -$
1 54 8.1 470$ 3,807$
2 67 10.05 666$ 6,693$
3 18 2.7 1,202$ 3,245$
TOTAL 139 20.85 13,746$
Cost Per Unit
BR Size 2025 HUD
FMR
Santa Fe
Aff'd Rent Base Gap*
Adjusted Gap
(100% )after July
1, 2024**
Studio $1,235 1,133.00$ $102.00 $204.00
1 BR $1,368 1,133.00$ $235.00 $470.00
2 BR $1,627 1,294.00$ $333.00 $666.00
3BR $2,057 1,456.00$ $601.00 $1,202.00
**Calculation: Base gap x 2 = Adjusted Gap
Calculation for Fee-in-Lieu Payment
Example Project
Example Project
Calculation Base Fee by Unit Type
Start with HUD Fair Market Rent (FMR).
Subtract the 65% rent amount.
Multiply the rent gap by 2 to set the base fee.
*Calculation: HUD FMR - Santa Fe Affordable Rent = Base Gap

Project
Fee
-$
91,368.00$
160,639.20$
77,889.60$
329,896.80$
15,822.39$
t

Project Name
Project Address
Aff'd
BR Size # Units Units Fee/Unit Fee/Month
Studio 0 0 1,424$ -$
1 54 8.1 1,690$ 13,689$
2 67 10.05 2,058$ 20,683$
3 18 2.7 2,768$ 7,474$
TOTAL 139 20.85 41,846$
Cost Per Unit
BR Size
2025 FMR as
determined by
HUD
Santa Fe Aff'd
Rent Base Gap*
Adjusted Gap
(100% )after
July 1, 2024**
Studio $1,235 523.00$ $712.00 $1,424.00
1 BR $1,368 523.00$ $845.00 $1,690.00
2 BR $1,627 598.00$ $1,029.00 $2,058.00
3BR $2,057 673.00$ $1,384.00 $2,768.00
Calculation for Fee-in-Lieu Payment
Example Project
Example Project
Calculation Base Fee by Unit Type
Start with HUD Fair Market Rent (FMR).
Subtract the 30% rent amount.
Multiply the rent gap by 2 to set the base fee.
**Calculation: Base gap x 2 = Adjusted Gap
*Calculation: HUD FMR - Santa Fe Affordable Rent = Base Gap

Project
Fee
-$
328,536.00$
496,389.60$
179,366.40$
1,004,292.00$
48,167.48$
ent