(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.
(c) In mixed use developments, potential enclosed parking space conversion allowance incentives may only be applied to the required enclosed parking spaces 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 designation of enclosed and unenclosed parking spaces to opportunity housing units will be proportional to the designation of enclosed and unenclosed parking spaces to market rate units.