The intent of this article is to foster stable, diverse neighborhoods with a robust quality of life and to create incentives for the development of affordable housing within mixed income residential subdivisions, in which at least 20% of the units are affordable to low and moderate income residents. To capitalize on city investment, the article provides incentives for development in the City Water Service Area and greater incentives for infill development. The affordable housing within a subdivision will have the same appearance and quality, without upgrades, as the market rate units. The city will establish rules and regulations to ensure the long-term affordability of the affordable units. Implementation of the program will be structured around a contractual agreement between the city and the developer and/or builder, which provides specific incentives to the subdivision in exchange for production of the affordable units.
(Ord. 34-1998)