In-lieu Cost is a fee or markup cost that is 1) paid by a developer instead of building an inclusionary unit, when a developer is required to build units onsite but allowed to pay a fee as an alternative; 2) paid by a client to cover the contractor's fee or markup for labour burdens and benefits that are invoiced at a different amount specified in the contract (usually higher and includes contractor's profit and overhead).
Related Definitions in the Project: The Project Cost
