HomeMy WebLinkAboutMisc. Employee Generation Sheet - not sure what yearUnit Type
Employees Housed
Studio
1.25
One -bedroom
1.75
Two -bedroom
2.25
Three -bedroom or larger
3.00, plus .5 per each additional bedroom
Dormitory
1.00 employee per 150 square feet of net livable space
3. Employee housing fee -in -lieu payment. Whenever a project provides employee housing via a
fee -in -lieu payment, in part or in total, the amount of the payment shall be based upon the
following (fee -in -lieu is only allowed for Categories 1-4, Categories 5-7 is calculated only for
use in the Housing Certificates Program):
Fee -In -Lieu (per FTE):
Category 1:
$ 356,433
Category 2:
$ 320,186
Category 3:
$ 286,495
Category 4:
$ 223,072
Category 5:
$ 157,280
Category 6:
$ 132,817
Category 7:
$ 104,148
Payment shall be calculated on a full -time -equivalent employee (FTE) basis according to the
Affordable Housing Category designation required by this Title. Unless otherwise stated in this
Title or in a Development Order, Fee -in -Lieu payments shall be collected by the City of Aspen
Building Department upon and as a condition of Building Permit issuance.
The Fee -In -Lieu rates shall be updated every five years and adopted by city council ordinance.
During intermediate years, The City may choose to update the fee -in -lieu schedule, by ordinance,
based on the change in the engineering news record inflation index.
The following methodology was used to determine the above fee -in -lieu schedule: The subsidy
per FTE was calculated by subtracting unit sales revenue per FTE from the total development
costs per FTE. Total development cost per FTE was determined by using an average of recent
City of Aspen projects and foreseeable future City of Aspen projects for which land has already
been acquired and program/density has been deliberated, where in each case actual land costs
were used in the calculation.
The Program/Density projections for future projects were based upon assumptions suitable for
the respective neighborhood, public outreach, and program/density review by City Council.
Development cost calculations included all "hard" and "soft" costs associated with development.
City of Aspen Land Use Code
Part 400 — GMQS
Page 31