A. Eligibility for Fee Payment. When the calculation of inclusionary requirements yields a fractional number, a fee in lieu of providing a full unit may be paid to the City. Said fee shall equal the fractional number times the established fee.

B. Amount of Fee. For purposes of this section, the inclusionary fee shall be established and adjusted from time to time by resolution of the City Council based upon the parameters of this chapter.

C. Payment of Fee. Any fee required by this chapter shall be paid in full prior to the issuance of a building permit for the project. At the applicant’s discretion, total inclusionary fees for the project may be divided and paid on a per-market-rate-unit basis upon issuance of a building permit for each market-rate unit.

D. Use of Funds. Any funds received from fee payments shall be placed in a reserve account used for the exclusive purpose of providing housing affordable to low- and moderate-income households in the City of Sebastopol. (Ord. 1111, 2018)