(A) In lieu of providing affordable housing units on-site or off-site as required by regulations within Chapter 154 and Chapter 155 (Zoning) or pursuant to a land use plan amendment, a property owner may elect to contribute a fee in lieu of to be deposited into the city’s Local Affordable Housing Trust Fund. If this in lieu of option is taken for the allocation of flex or redevelopment units approved after September 30, 2023, the in lieu of fee, $10,000 per unit (except for those units required to be non-income restricted pursuant to § 154.61(F)(3)(i)), will apply to every flex and redevelopment unit allocated to the project that is not classified as affordable in accordance with the definitions in § 154.60. All flex units allocated before September 30, 2023 that opt to buyout of any income-restriction applicable at the time of approval will pay $2,333 for every flex unit allocated.
(B) For projects within an area that is subject to affordable housing requirements established through a Broward County Land Use Plan Amendment process approved after September 30, 2023, the in lieu of fee to be paid to the city shall be $10,000 per market-rate unit. If affordable units will be provided, they will meet the definition of affordable housing provided in § 154.60 and deed restricted to the proposed range of affordability for a 30-year period. All projects subject to affordable housing requirements established through a Broward County Land Use Plan Amendment process approved before September 30, 2023 that opt to buy-out will pay $2,333 per non-income restricted unit.
(C) Projects granted density bonuses, in association with the Broward County Administrative Policy 2.16.3 and 2.16.4 must comply with the fees and standards of the Broward County policy which include a deed restriction of 30 years.
(D) The city’s in-lieu fee associated with flex and redevelopment units and Comprehensive Plan amendments that were subject to county policy 2.16.2, shall be paid to the city at the time of building permit.
(E) The city’s $10,000 in lieu fee per subsections (A), (B) and (D) above, shall be increased by 3% on every January 1 after adoption.
(Ord. 2014-19, passed 2-11-14; Am. Ord. 2018-06, passed 10-10-17; Am. Ord. 2019-17, passed 1-8-19; Am. Ord. 2019-110, passed 9-24-19; Am. Ord. 2022-36, passed 3-22-22; Am. Ord. 2023-63, passed 7-25-23)