Developers - In-Lieu Fees


 

 Housing Requirements for the Inclusionary Housing Ordinance FY 2019-2020

Housing Market Area

(HMA)

Very Low Low Moderate Workforce

Total Inclusionary Housing %

South Coast 2.5% 2.5% 5% 5% 15%
Santa Ynez 2.5% 2.5% 5% 0% 10%
Santa Maria 2.5% 2.5% 5% 0% 10%
Lompoc 2.5% 2.5% 0% 0% 5%

                                  


2019 In-Lieu Fees for the Inclusionary Housing Ordinance

Housing Market Area (HMA)  Very Low and Low  Moderate and Workforce 
South Coast  $173,800 $649,100 
Santa Maria  $92,400 $237,200
Santa Ynez  $141,100 $416,900
Lompoc  $95,600 $218,700



 

 2019 In-Lieu Fee Update for Very Low and Low Units based on % change in median sales price of condominiums

 

HMA  2017 Median Sales Price of Condominiums  2018 Median Sales Price of Condominiums  % Change  2018 In-Lieu Fee  plus % change  2019 In-Lieu Fee 
South Coast  $665,951 $763,900 14.72% $151,500 +$22,300 $173,800
Santa Maria  $259,590 $279,000 7.48% $86,000 +$6,400 $92,400
Santa Ynez  $465,000 $490,092

5.4%

$133,900 +$7,200 $141,100
Lompoc  $249,000 $257,295 3.33%  $92,500 +$3,100 $95,600



 

2019 In-Lieu Fee Update for Moderate and Workforce Units

 

HMA  2018 Median Sales Price of Condominiums  15% of Median Sales Price of Condominiums  2018 In-Lieu Fee 
South Coast  $763,990 $114,599 $649,400
Santa Maria  $279,000 $41,850 $237,200
Santa Ynez  $490,092 $73,514 $416,600
Lompoc  $257,295 $38,594 $218,700


 

 

Median Condominium Sales Price by HMA, 2012-2018     

Year  HMA 
  South Coast   Santa Maria Santa Ynez  Lompoc 
2012 (released July '13) 
$415,000 $139,740 $241,867 $123,050

2013 (released July '14) 
$487,704 $187,500 $310,000 $120,544
2014 (released July '15) 
$573,138 $204,200 $383,591 $188,696
2015 (released July '16) 
$675,141 $218,278 $359,281 $186,000
2016 (released July '17) 
$661,981 $240,310 $400,000 $208,000
2017 (released July '18) 
$665,951  $259,590 $465,000 $249,000
2018 (released July '19)  $763,990 $279,000 $490,092 $257,295

 

 

Documents

2019 Board Letter

Adopted IHO