(a) In-lieu payment.
(1) In general. A property owner may reduce the number of SAH units required to obtain a density bonus by making an in-lieu payment into a special city account, to be known as the Housing Production Trust Fund, for development of SAH units in non-minority concentrated areas of the city. The amount of the payment required is calculated by multiplying the cost of constructing the multifamily dwelling unit [See Paragraph (2) below] required by the number of units of that size that will not be required by reason of the payment. The entire payment must be made to the director before issuance of any required permit.
(2) Cost of constructing multifamily dwelling units. Until January 2, 1995, the cost of constructing a multifamily dwelling unit is as shown:
NUMBER OF BEDROOMS IN UNIT
|
COST PER UNIT
|
1 | $35,000 |
2 | 45,000 |
3 | 55,000 |
4 | 60,000 |
On January 2, 1995, and on January 2 of each odd-numbered year thereafter, the director shall determine the new costs of constructing multifamily dwelling units by using the following formula:
Cost of Constructing Type of Multifamily Unit | X | Dallas Cost Index | X | Historical Cost Index for Year Historical Cost Index for 1993 | X | Cost of Constructing Type of Multifamily Unit In Year X |
Both the Dallas Cost Index and the Historical Cost Indexes must be derived from the most recent issue of Building Construction Cost Data, published by the Robert Snow Means Company, Inc., of Kingston, Massachusetts, unless another publication is designated by the director.
(b) Provision of single family uses. It is assumed that all SAH units provided will be multifamily uses. A property owner may, however, reduce the number of SAH units required to obtain a density bonus by providing one or more single family uses as SAH units in accordance with this subsection and Sections 51A-4.901 through 51A-4.909. The provision of a single family use reduces the number of multifamily bedrooms required as shown:
NUMBER OF BEDROOMS IN THE SINGLE FAMILY USE PROVIDED (“SIZE”) | REDUCTION IN NUMBER OF MULTIFAMILY BEDROOMS REQUIRED |
1 | 2 |
2 | 3 |
3 | 4 |
4 | 5 |
The number of multifamily bedrooms required to obtain a density bonus if a person provides one or more single family uses is calculated as follows. First, determine the number of each size of single family use provided. (For example, a person may provide two two-bedroom and three four-bedroom single family uses as SAH units.) Then, multiply the number of each size of single family use provided by the number of multifamily bedrooms that will not be required by reason of the provision of those single family uses. Next, add these numbers to determine the total number of multifamily bedrooms that will not be required. (In the above example, 21 multifamily bedrooms would not be required because of the provision of the single family uses.) This number is then subtracted from the total number of bedrooms of SAH units that would otherwise be required by Section 51A-4.906(b)(4) to obtain the density bonus. The result is then broken down into the number of different sizes of SAH units required by Section 51A-4.906(b)(4) to obtain the density bonus. (Ord. 21663)