§ 9.20  ENCLOSED PARKING SPACE CONVERSION ALLOWANCE.
   (a)   To incentivize the creation of opportunity housing units, a residential development that includes at least 9% of its total dwelling units affordable to households at or below 60% of AMI may convert required enclosed parking spaces to unenclosed parking spaces depending on the level of affordability provided as follows:
      (1)   A development with 9% of its units qualifying as extremely low income affordable housing qualifies to convert 50% of required enclosed parking spaces to unenclosed parking spaces provided that the affordable housing agreement required pursuant to § 9.32 provides that the owner will make all parking spaces accessible to the opportunity housing units without charge;
      (2)   A development with 20% of its units qualifying as extremely low income affordable housing qualifies to convert 100% of required enclosed parking spaces to unenclosed parking spaces provided that the affordable housing agreement required pursuant to § 9.32 provides that the owner will make all parking spaces accessible to the opportunity housing units without charge;
      (3)   A development with 9% of its units qualifying as very low income affordable housing qualifies to convert 50% of required enclosed parking spaces to unenclosed parking spaces provided that the recorded affordable housing agreement required pursuant to § 9.32 provides that the owner will make all parking spaces accessible to the opportunity housing units without charge; or
      (4)   A development with 9% of its units qualifying as low income affordable housing qualifies to convert 10% of required enclosed parking spaces to unenclosed parking spaces provided that the recorded affordable housing agreement required pursuant to § 9.32 provides that the owner will make all parking spaces accessible to the opportunity housing units without charge.
   (b)   The enclosed parking space conversion allowances provided in this section are not cumulative.  Each qualifying development is eligible for only one enclosed parking space conversion allowance of 10% to 100% depending on the level of affordability provided.
(Ord. 2019-16, passed 2-25-2019; Ord. 2019-30, passed 8-5-2019; Ord. 2021-1, passed 3-8-2021)