(a) To incentivize the construction of opportunity housing units affordable to households at or below 60% of AMI, a residential development that includes at least 9% of its total dwelling units affordable to households at or below 60% of AMI may use the alternative exterior materials of fiber cement, engineered wood, exterior insulation finishing system (EIFS), and 20 year warranty metals on façades not facing public streets where otherwise not allowed by the city code as follows:
(1) A development with 9% of its units qualifying as extremely low income affordable housing may cover up to 100% of qualifying façades with the listed alternative exterior materials;
(2) A development with 9% of its units qualifying as very low income affordable housing may cover up to 75% of qualifying façades with the listed alternative exterior materials; or
(3) A development with 9% of its units qualifying as low income affordable housing may cover up to 50% of qualifying façades with the listed alternative exterior materials.
(b) The alternative exterior material allowances provided in this section are not cumulative. Each qualifying development is eligible for only one alternative construction material allowance of 50%, 75%, or 100% depending on the level of affordability provided.