(a) New residential construction, regardless of type of dwelling unit. For newly constructed, converted, or infill multi-family or townhome residential developments with 20 or more newly created units, at least 9% of the newly created units must be affordable to households at or below 60% of AMI. For newly constructed or infill single-family detached residential developments with 20 or more newly created units, at least 9% of the newly created units must be affordable to low income family households up to 115% AMI.
(b) Calculating affordable units. In determining the number of opportunity housing units required under this chapter, any decimal fraction less than 0.5 is rounded down to the nearest whole number and any decimal fraction of 0.5 or more is rounded up to the nearest whole number. For purposes of § 9.18 (density bonus), any additional units authorized and approved as a density bonus are not counted in determining the required number of affordable units.
(c) Phasing. Developments subject to this chapter include but are not limited to development that is undertaken in phases, stages, or otherwise developed in distinct parts.
(d) Preservation and rehabilitation. When a NOAH property with 20 or more units that receives some form of financial assistance from the city or HRA is transferred or is otherwise conveyed to a new owner or member of the prior owner or undergoes substantial rehabilitation, then at least 9% of the units must be preserved as affordable to households at or below 60% of AMI through approval of an affordable housing plan and execution of an affordable housing agreement. This section does not apply to a NOAH property of 19 or fewer units. “Financial assistance” only includes direct financial assistance from the city or HRA and does not include participation in the 4d property tax program or the Section 8 housing choice voucher program.
(e) City assistance. In consideration of the 9% requirement of this section, a developer or owner of a NOAH property preserving opportunity units in accordance with this chapter may utilize the options and tools as provided in this chapter.
(f) Opportunity housing requirement. The requirements of this section are generally referred to in this chapter as the “opportunity housing requirement.”