(a) To incentivize the creation of opportunity housing units, a residential development with at least 9% of its total dwelling units affordable to households at or below 50% of AMI qualifies for car parking reductions provided that the development agreement required pursuant to § 9.35 affirms that the owner will not charge opportunity housing units in the residential development for access to parking. Potential parking reduction incentives are based upon the level of affordability as follows:
Affordability provided: | Projects located in the Designated Transit Area, Tier I: | Projects located in the Designated Transit Area, Tier II: | Projects located outside a Designated Transit Area: |
9% of units qualifying as very low or extremely low income | 15% | 10% | 5% |
20% of units qualifying as very low income | 25% | 20% | 10% |
50% of units qualifying as very low income or 20% of units qualifying as extremely low income | 35% | 30% | 15% |
100% of units qualifying as very low income or 50% of units qualifying as extremely low income | 45% | 40% | 20% |
(b) The car parking reductions provided in this section are not cumulative. Each qualifying development is eligible for only one parking reduction of 5% to 45% depending upon the level of affordability provided.
(c) In mixed use developments, potential parking reduction incentives may only be applied to the parking requirement created by the residential portion of the development.
(d) Opportunity housing units must have access to parking spaces that are comparable in quality and design to parking spaces accessible to market rate units. For example, if a development has enclosed and unenclosed parking spaces, the development agreement required pursuant to § 9.35 will affirm that the availability of enclosed and unenclosed parking spaces to opportunity housing units will be proportional to the availability of enclosed and unenclosed parking spaces to market rate units.
(e) If a development seeks a parking reduction incentive at or above 30%, the City Engineer or their designee may require a parking study, prepared by an independent traffic engineering professional, to help the City Council determine if the parking incentive reduction is appropriate for a particular development, or if it should be adjusted, when there is evidence that the proposed parking supply reduction may negatively impact the surrounding public roadway network or adjacent land uses.