Bend Oregon Fee in Lieu of Agreement

• Category: Oregon Real Estate - Contracts
• State: Oregon
• City: Bend
• Control #: OR-LR004T
• Format: Word; Rich Text

Description

This "Fee in Lieu Agreement" is based on a two-tier system. Property owners will be assessed a percentage of the total project cost based upon the street classification for their property. The Bend Oregon Fee in Lieu of Agreement is a legal agreement that allows developers or property owners to pay a fee in place of including affordable housing units within their development project. This agreement is designed to address the need for affordable housing in Bend, Oregon, by providing an alternative option for developers who may be unable or unwilling to include affordable housing units in their projects. The Fee in Lieu of Agreement is an important tool utilized by the City of Bend to ensure the availability of affordable housing options for low and moderate-income residents. The fees collected through this agreement are used to fund affordable housing programs and initiatives within the city. There are two main types of Bend Oregon Fee in Lieu of Agreements. The first type is the Residential Fee in Lieu of Agreement, which applies to residential developments such as apartment complexes, condominiums, or single-family housing projects. The second type is the Commercial Fee in Lieu of Agreement, which is applicable to commercial developments such as office buildings, retail spaces, or mixed-use projects. Both types of agreements require developers to pay a fee to the City of Bend based on a predetermined formula or calculation. The specific fee amount is determined by factors such as the number of units or square footage of the development, the location, and the current market conditions. The fees collected are then allocated towards the city's affordable housing programs and initiatives, aimed at increasing the availability of affordable housing for residents. It's important to note that the Bend Oregon Fee in Lieu of Agreement is a voluntary option for developers, and they can choose to include affordable housing units in their projects instead of paying the fee. However, the Fee in Lieu of Agreement provides an alternative avenue for developers to contribute to affordable housing efforts while still moving forward with their development plans. Overall, the Bend Oregon Fee in Lieu of Agreement is a crucial mechanism that ensures the continued development of affordable housing options within the city. It provides developers with flexibility while simultaneously addressing the affordable housing needs of Bend's community.

The Bend Oregon Fee in Lieu of Agreement is a legal agreement that allows developers or property owners to pay a fee in place of including affordable housing units within their development project. This agreement is designed to address the need for affordable housing in Bend, Oregon, by providing an alternative option for developers who may be unable or unwilling to include affordable housing units in their projects. The Fee in Lieu of Agreement is an important tool utilized by the City of Bend to ensure the availability of affordable housing options for low and moderate-income residents. The fees collected through this agreement are used to fund affordable housing programs and initiatives within the city. There are two main types of Bend Oregon Fee in Lieu of Agreements. The first type is the Residential Fee in Lieu of Agreement, which applies to residential developments such as apartment complexes, condominiums, or single-family housing projects. The second type is the Commercial Fee in Lieu of Agreement, which is applicable to commercial developments such as office buildings, retail spaces, or mixed-use projects. Both types of agreements require developers to pay a fee to the City of Bend based on a predetermined formula or calculation. The specific fee amount is determined by factors such as the number of units or square footage of the development, the location, and the current market conditions. The fees collected are then allocated towards the city's affordable housing programs and initiatives, aimed at increasing the availability of affordable housing for residents. It's important to note that the Bend Oregon Fee in Lieu of Agreement is a voluntary option for developers, and they can choose to include affordable housing units in their projects instead of paying the fee. However, the Fee in Lieu of Agreement provides an alternative avenue for developers to contribute to affordable housing efforts while still moving forward with their development plans. Overall, the Bend Oregon Fee in Lieu of Agreement is a crucial mechanism that ensures the continued development of affordable housing options within the city. It provides developers with flexibility while simultaneously addressing the affordable housing needs of Bend's community.