A. Inclusionary units shall be reserved for very low-, low- and moderate- income households, and offered at an affordable housing cost, as follows:
1. For residential development projects with five (5) or more but less than ten (10) residential units, the developer shall provide one (1) rental unit affordable to low-income households, but shall have the option of paying a fee in lieu of constructing the unit pursuant to the following schedule:
Number of Units in Building | In Lieu Fee (per square foot of development in building) |
5 Units | $58 |
6 Units | $70 |
7 Units | $82 |
8 Units | $93 |
9 Units | $105 |
2. For all newly constructed rental residential developments with ten (10) or more residential units, a minimum ten percent (10%) of all the units in the development shall be rented to and occupied by very low-income, low income, or moderate income households, however an applicant may provide the required inclusionary units on a different site within the City.
3. For all condominium conversion projects and newly constructed condominiums in a residential or mixed-use development with ten (10) or more residential units, a minimum ten percent (10%) of all the units in the development shall be rental units and rented to and occupied by very low-income, low-income, or moderate income households, however an applicant may provide the required inclusionary units on a different site within the City.
4. For all residential developments that are single-family subdivisions, a minimum ten percent (10%) of all the units in the development shall be sold to and occupied by very low-income, low-income, or moderate income households, however an applicant may provide the required inclusionary units on a different site within the City.
5. When only one affordable dwelling unit is constructed, it may be allocated for a very low, low or moderate income household. When two (2) or more affordable units are constructed, the units shall be allocated for very low income households, low income households, moderate income household, or combination thereof as the applicant may determine in conjunction with any density bonus that may also be sought for the project.
B. The city shall set on an annual basis, or as otherwise needed, the maximum allowable rents and sales prices for inclusionary units, adjusted for family size.
C. In calculating the required number of inclusionary units in subsections A1, A2, and A3 above, fractional units of one-half (.50) or above shall be rounded up to a whole unit. (Ord. 19-O-2797, 12-17-2019; amd. Ord. 20-O-2823, eff. 11-10-2020; Ord. 21-O-2850, 11-26-2021)