Developers - In-Lieu Fees


 

 Housing Requirements for the Inclusionary Housing Ordinance FY 2020-21

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%      0%     0%                      5%
Lompoc      2.5%      2.5%      0%      0%                      5%

                                  


2020 In-Lieu Fees for the Inclusionary Housing Ordinance

Housing Market Area (HMA)  Very Low and Low  Moderate and Workforce 
South Coast                   $176,200                             $658,300
Santa Maria                   $96,600                             $248,000
Santa Ynez                   $146,200                             $431,600
Lompoc                   $99,500                             $227,600



 

 2020 In-Lieu Fee Update for Very Low and Low Units based on % change in median sales price of condominiums

 

HMA   2018 Median Sales Price of Condominiums   2019 Median Sales Price of Condominiums  % Change  2019 In-Lieu Fee  plus % change  2020 In-Lieu Fee 
South Coast                       $763,990                       $774,523 1.38% $173,800 +$2,400 $176,200
Santa Maria                       $279,000                       $291,750 4.57% $92,400 +$4,200 $96,600
Santa Ynez                       $490,092                       $507,766

3.61%

$141,100 +$5,100 $146,200
Lompoc                       $257,295                             $267,750 4.06%  $95,600 +$3,900 $99,500



 

2020 In-Lieu Fee Update for Moderate and Workforce Units

 

HMA        2019 Median Sales Price of Condominiums                        15% of Median Sales Price of Condominiums                      2020 In-Lieu Fee 
South Coast                                                    $774,523                                                            $116,178                           $658,300
Santa Maria                                                    $291,750                                                            $43,763                           $248,000
Santa Ynez                                                    $507,766                                                            $76,165                           $431,600
Lompoc                                                    $267,750                                                            $40,163                           $227,600


 

 

Median Condominium Sales Price by HMA, 2013-2019     

Year  HMA 
  South Coast   Santa Maria Santa Ynez  Lompoc 
2013 (released July '14) 
$487,704 $187,500 $310,000 $120,544

2014 (released July '15) 
$573,738 $204,200 $383,591 $188,696
2015 (released July '16) 
$675,141 $218,278 $359,281 $186,000
2016 (released July '17) 
$661,980 $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
2019 (released July '20)  $774,523 $291,750 $507,766 $267,750

 

 

Documents

2020 Board Letter

Adopted IHO