(a) In consideration of and as a way of providing the developer with tools and flexibility to meet the requirements of this chapter, a developer may meet its opportunity housing requirement by the construction of opportunity housing units on a site different from the site of the residential development as follows:
(1) For-sale residential development. Off-site opportunity housing units equivalent to no less than 9% of the total dwelling units in the residential development must be made available for purchase at a housing cost to those households earning no more than 110% of the area median income.
(2) Rental residential development. Off-site rental opportunity housing units numbering no less than 9% of the total dwelling units in the residential development must be made available for rent with a housing mix of extremely low, very low and up to 60% AMI households.
(3) Additional requirements. All opportunity housing units constructed off-site of the residential development must also comply with all of the following requirements:
(A) The site of the opportunity housing conforms to the city’s affordable housing dispersion objective set forth in § 9.36;
(B) The site has a comprehensive plan designation authorizing residential uses and is zoned for residential development at a density to accommodate at least the number of required opportunity housing units within the residential development;
(C) The site can accommodate the development of the opportunity housing units;
(D) Environmental review for the site has been completed for the presence of hazardous materials and geological hazards, and all such hazards are or must be mitigated to the satisfaction of the city prior to acceptance of the site by the city;
(F) Construction of the off-site opportunity housing units must be completed prior to or concurrently with the market rate residential development pursuant to § 9.36(e).
(4) Location. Where the market rate residential development is located in a district plan area, the following will apply:
(A) The off-site opportunity housing units for the residential development must be located within the same district plan area.
(B) If at the time of submission of the affordable housing plan pursuant to § 9.32, the developer has petitioned and provided credible documentation in writing to the Community Development Department that there is insufficient available land within the district area plan to construct the off-site opportunity housing units, the opportunity housing units may be constructed upon a site approved by the city in another area in the city.
(5) Incentives. In cases where opportunity housing units are constructed off site, the tools and incentives described in Article III apply only to the site hosting the opportunity housing units.